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Major FedEx Gift Will Support Work of U of M's FedEx Institute of Technology
For release: Aug. 25, 2005
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The University of Memphis has announced a recent gift of $5 million from FedEx Corp. over five years to support the work of the University of Memphis' FedEx Institute of Technology. The money will help build the infrastructure for conducting key research, facilitate the recruitment of new faculty members, and support Institute initiatives such as its Vision Speakers Series and a residency program for innovators, artists, and CEOs.

In announcing the gift, U of M President Shirley Raines said, "This generous gift from FedEx Corp. to the University of Memphis is just the latest tangible indication of that company's commitment to the University and its role in higher education. The funds will support a variety of programs, including the FedEx Center for Supply Chain Management, research initiatives, corporate and executive education, conferences, special initiatives for honors and graduate programs, and entrepreneurial ventures. Through the generosity of FedEx and other corporate partners, the FedEx Institute and the entire University can continue to prepare students to make meaningful contributions to business and industry, science and technology, and the arts."

The gift will provide capital that will enable the Institute to offer leading innovators the resources to expand their research by moving to the University of Memphis and the Institute. Through a combination of the FedEx gift and University support, the Institute will actively recruit internationally recognized research talent, giving innovation in this region a major boost and University students the opportunity to work at the forefront of technology development.

"At FedEx, innovation fuels our vision of the future," said Robert B. Carter, executive vice president and CIO of FedEx Corp. "Our continued support of the FedEx Institute of Technology is an extension of both our vision and culture, and we look forward to the continued development of new ideas that help provide solutions for the real world and improve the communities where we live and work."

Institute Director Craig Grossman praised FedEx's vision, saying the company's "…continued generosity gives the Institute the needed flexibility to build its research capacity and to invest in the kind of interdisciplinary, vanguard work that holds the promise not only of growing research at the University of Memphis, but of benefiting the lives of real people."

The FedEx Institute of Technology is the South's premier interdisciplinary research laboratory system, where Fortune 500 companies and other businesses pool people, technical resources, and research dollars in a concerted effort to solve modern challenges. Artificial intelligence, biotechnology, experiential design, geospatial analysis, multimedia arts, nanotechnology – these fields and others are the focus of the FedEx Institute of Technology, which is dedicated to finding and delivering innovations, and innovators, to the world.

For more information about the FedEx Institute of Technology, call 901/678-5105, or visit the Institute's Web page at fedex.memphis.edu.

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