Pinduoduo founder Colin Huang’s Starry Night Foundation donates $100 million to support agri-food tech and biomedical resea...
March 18 2021 - 4:05AM
Pinduoduo founder Colin Huang’s Starry Night Foundation has pledged
$100 million to Zhejiang University to support fundamental research
in biomedical science, agriculture and food.
The $100 million donation, to be disbursed over the next three
to five years, will fund research at an advanced institute set up
by Zhejiang University and the Shanghai municipal government to
support innovation and promote fundamental research in the areas of
biomedical sciences, agriculture and food.
The first batch of research projects that will receive funding
from the foundation include research into cell-cultured fish, tumor
neoantigens, and major neurocognitive disorders.
As a first phase of funding, the donation is the biggest pledge
to date by Starry Night Foundation since it was set up in July
2020. Huang and the founding team at Pinduoduo donated 2.37% of
their company shares to the irrevocable charity trust at the time,
with the aim of promoting social responsibility development and
scientific research.
The donation announcement comes one day after Huang stepped down
from the board of directors of Pinduoduo, the company he founded in
2015. Huang said in an open letter to Pinduoduo shareholders that
he will work on research in the fields of food sciences and life
sciences after stepping down.
The Starry Night Foundation also announced on Thursday the
setting up of a management council and academic committee. The
council will be chaired by Chinese Academy of Sciences academician
and Zhejiang University President Wu Zhaohui. The academic
committee includes Professor Michael Levitt, a Nobel Laureate in
Chemistry, and Raoul Bino of Wageningen University &
Research.
Huang studied computer science at Zhejiang University.
About Starry Night Foundation:The Starry Night Foundation was
set up in July 2020 by Colin Huang and Pinduoduo’s founding team as
an irrevocable charitable trust devoted to promoting social
responsibility development and scientific research.
For investor and media inquiries, please contact:
investor@pinduoduo.com
internationalmedia@pinduoduo.com
PDD (NASDAQ:PDD)
Historical Stock Chart
From Aug 2024 to Sep 2024
PDD (NASDAQ:PDD)
Historical Stock Chart
From Sep 2023 to Sep 2024