One Million Dollar Gift Given to UC Berkeley's Center For Entrepreneurship and Technology

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Technology innovators to compete to become UC Berkeley's Technology Breakthrough Winner on November 15.

At the heart of this initiative is our faculty and students' ability to innovate effectively. We must continue to demonstrate that the world is actually not flat and that Berkeley programs raise a sizable bump on the economic playing field here in California.

The University of California, Berkeley today announced that it has received its first $1 million dollar gift for the Center for Entrepreneurship & Technology(CET), its newest initiative to broaden the skill set of Berkeley students, particularly engineers and scientists.

The contribution was made by In Sik and Isabel Rhee. In Sik, a Bay Area entrepreneur, technical visionary, and Berkeley alumni, co-founded at age 24 KIVA, an application server software company that was acquired by Netscape Communications in 1997 and served as the technical foundation for Netscape's enterprise software offering. In 1999, In Sik with Marc Andreessen co-founded Loudcloud, a leading datacenter automation firm now called Opsware Inc. Currently In Sik is a venture advisor with Accel Partners, a leading Silicon Valley venture capital firm.

"We are spearheading efforts that will promote innovation here in the US, now and in the future. In order to successfully compete in the global economy, engineers and scientists need to know how to derive value from technology," In Sik said. "UC Berkeley's CET provides future entrepreneurs with skills and a network to help build successful ventures."

The mission of UC Berkeley's Center for Entrepreneurship & Technology is to equip Berkeley students with the skills needed to innovate, lead, and commercialize technology in the global economy.

"At the heart of this initiative is our faculty and students' ability to innovate effectively. We must continue to demonstrate that the world is actually not flat and that Berkeley programs raise a sizable bump on the economic playing field here in California." said A. Richard Newton, dean of UC Berkeley's College of Engineering, in reference to Tom Friedman's bestseller "The World is Flat."

CET achieves its mission through a combination of teaching by industry leaders, research programs, and hands-on events, such as UC Berkeley's upcoming Technology Breakthrough Competition. On November 15, the finalists selected from a record number of 47 Berkeley researchers will present their breakthrough technologies to CET's panel of judges from the corporate and venture capital world. The winners, selected on the basis of which innovations have the potential to have the greatest impact in the next five years, will receive $25,000 in awards from the CET sponsors.

"Through CET, Berkeley is leading the evolution of engineering and scientific education by hosting a rich information exchange between students, industry leaders, faculty, and investors interested in applying innovation within existing firms as well as new ventures," said CET's director, Dr. Ikhlaq Sidhu.

CET is affiliated with UC's Center for Information Technology Research in the Interest of Society (CITRIS).

Contact Information:

Thanh Tu

Bite Communications Corp.

(415) 365-0478

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