Strategic Commitment from FedEx Corp. Advances UofM Technology and Research
March 27, 2015 - FedEx Corporate Services Inc. recently made a $3 million commitment over three years to the University of Memphis' FedEx Institute of Technology. The gift underscores President M. David Rudd's vision for the Institute to advance interdisciplinary research and faculty collaborations in partnership with global technology organizations. Based in Memphis, FedEx Corp. is a leading worldwide provider of transportation, e-commerce and business services.
The renewed support from FedEx allows the U of M to strategically invest in existing areas of strength to build nationally recognized centers of applied research through the FedEx Institute of Technology. Initial areas of continued investment include data analytics, information security and testing, intermodal freight transportation, mobile sensors and quality data management. Also through this investment, the U of M will enter into a partnership framework with Memphis Bioworks Foundation, the Entrepreneurship-Powered Innovation Center (EPIcenter) program, the Greater Memphis Chamber's Chairman's Circle, and other corporate partners to advance logistics innovation.
"We are grateful to continue our close relationship with FedEx Corp., a company with a worldwide reputation for excellence," said Rudd. "This renewed partnership for innovative research, technology development and education with FedEx is the catalyst for the FedEx Institute of Technology's success and expansion."
Since 2005, FedEx has invested more than $8.875 million in the FedEx Institute of Technology.
"FedEx is pleased to continue our collaboration and partnership with the University of Memphis," said Rob Carter, executive vice president and CIO of FedEx Corporation. "As we move forward in our second decade of support of the FedEx Institute of Technology, there is great clarity of intent, which I am confident will result in even greater success, innovation and recognition for all involved."
Dr. Jasbir Dhaliwal, the newly appointed executive director of the FedEx Institute of Technology and the U of M's chief innovation officer, said, "The University of Memphis and FedEx are a natural fit for leading technology innovation in our region. This gift allows us to continue our ongoing innovation journey in niche areas that matter to our region and in which we have international leadership. We want everyone in the country to know what a great public-private collaborative relationship we have built as we promote Memphis as a technology hub for the future.
FedEx Corp. provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $47 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand.
Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 325,000 team members to remain "absolutely, positively" focused on safety, the highest ethical and professional standards and the needs of their customers and communities. For more information, visit news.fedex.com.
Contact: Gabrielle Maxey