Entrepreneur Donates $20 Million to Booth

The donation will go toward a new center for social innovation and entrepreneurship.

By Camille Kirsch, News Editor

The Booth School for Business announced a new center for social innovation and entrepreneurship following a $20 million donation from Tandean Rustandy (M.B.A. ’07). 
The Rustandy Center for Social Sector Innovation will expand on the Booth School’s existing Social Enterprise Initiative (SEI), which opened in 2012. The SEI has helped launch companies such as BallotReady, a civic-engagement startup, and Hello Tractor, an equipment manufacturer working with small-scale farmers in Nigeria. 
The Rustandy Center will focus on social sector research, venture funding, university curriculum creation, and development programs for nonprofit executives. The center will also provide help for students and alumni considering social sector careers.  
“This most generous commitment from Tandean will secure the future of Booth’s social enterprise activities,” Booth Interim Dean Doug Skinner said in the press release announcing the gift.  
Tandean Rustandy is an Indonesian businessman known for founding PT Arwana Citramulia Tbk, a ceramic tile manufacturing company.  
Rustandy has a track record of supporting entrepreneurship. In 2016, he donated approximately $6 million to the University of Colorado Boulder’s Leeds School of Business.  
Rustandy said his gift was motivated by his belief in the importance of socially responsible business.  
“I want to give to an institution that can create so much—not just for the U.S. but for all the world. That is why I want to give this gift to the University of Chicago and to Booth,” Rustandy said in the release.