University of Colorado Boulder – Graduate Tandean Rustandy Donates $6 Million to Global Entrepreneurship Program

The CEO of one of the largest companies in Indonesia is giving $6 million to the Leeds School of Business at the University of Colorado Boulder. Tandean Rustandy, CEO of ceramic tile manufacturer PT Arwana Citramulia Tbkis of Jakarta, is a 1987 graduate of the Leeds School, according to the university.

Rustandy’s gift will be split with $3.1 million establishing an endowed chair in global entrepreneurship and strategy; $1.5 million to establish an endowed professorship in global entrepreneurship and innovation with $500,000 of current funds to award immediately; and $800,000 to “advance strategic initiatives and strengthen core offerings in the areas of entrepreneurship, innovation and design within the business school.

Rustandy has created, from the ground up, one of the best-performing businesses in the Indonesian building materials market. Since founding his company in 1993, Rustandy has dedicated himself to its growth and success and, in doing so, has also helped to advance his native country’s development.

Though born in a small Indonesian town, Rustandy received an international education. Being a nationalist, he opted to return to his homeland after completing his studies, to begin his career in the local timber industry. Despite a lack of experience in the industry, Rustandy went on to found PT Arwana Citramulia Tbk, a ceramic products manufacturer and distributor. For more than a decade, he relied on his instincts and vision for growth through innovation, efficiency, and integrity to help Arwana expand in both size and production capacity.

Rustandy credits his success to his CU Boulder degree and wants to create more educational opportunities for the next generation of global business leaders.

“Without CU Boulder and Leeds, I would not be who I am today,” Rustandy said. “I come from a very humble family with working-class parents in Indonesia. No one was educated after middle school. I was the first of my family to go to college, and now it’s important that I give back to CU. It’s not about me as an individual and my success, but it’s about the success of the institutions that help create us. This is the legacy I want to leave.”

Rustandy’s investment adds to an array of CU Boulder initiatives supporting entrepreneurship and innovation.

“We are deeply humbled by Mr. Rustandy’s gratitude to CU Boulder,” said Chancellor Philip P. DiStefano. “Located in one of the nation’s most entrepreneurial cities, CU Boulder has a unique advantage as one of the top public entrepreneurial universities in the world. The leadership of the Leeds School and our alumni support, both philosophically and philanthropically, reaffirms our commitment to prepare CU graduates with an entrepreneurial mindset and skills.”

Central to these efforts is a focus on integrating the rich entrepreneurial ecosystem of the Colorado Front Range into the student experience at CU Boulder.

“Our aim is to elevate our efforts in entrepreneurship, innovation and design in new, refined and disruptive ways in and outside of the classroom, said Sharon Matusik, who recently was named interim dean of the Leeds School, to begin on Janunary 01, 2017. “To have Tandean step forward with this meaningful investment to continue our long tradition of entrepreneurship helps further not only our momentum with curriculum advancements, but also our world-class reputation.”



SOURCE: University Colorado