Latest news with #CatalystFund
Cision Canada
01-05-2025
- Business
- Cision Canada
Ajit Prabhu, CEO and Co-Founder of Quest Global Announces $10M Gift to RPI to Tackle the World's Toughest Engineering Challenges
SCHENECTADY, N.Y., May 1, 2025 /CNW/ -- Quest Global is honored to announce a $10 million endowment to Rensselaer Polytechnic Institute (RPI), aimed at advancing engineering innovation and entrepreneurship. This gift establishes the Ajit Prabhu Catalyst Endowment and the Ajit Prabhu Catalyst Fund donated by the Prabhu family, supporting the Office of Strategic Alliances and Translation (OSAT) to equip RPI students and faculty to solve some of the hardest engineering problems for today and tomorrow. The Catalyst Fund will support accelerating groundbreaking ideas into proof-of-concept prototypes or market-ready ventures. The Fund will help bridge the gap between lab research and real-world application, allowing RPI's brightest minds to focus not only on solving today's challenges but also on anticipating tomorrow's opportunities. This endowment will help translate research into application to benefit society. "Rensselaer Polytechnic Institute, and in particular my mentor Dr. John Brunski in the Biomedical Engineering department shaped my career and expanded my worldview, allowing me to dream of infinite possibilities," said Ajit Prabhu, CEO & Co-founder, Quest Global. "This gift from our family reflects our commitment to empowering students and faculty to pursue ambitious ideas and develop innovative solutions. My dream is that this gift will inspire students to tackle the toughest engineering problems and deliver unparalleled value to humanity." Dr. Jonathan Dordick, Vice President of OSAT, highlighted the significance of the contribution: "The Ajit Prabhu Catalyst Fund represents a powerful opportunity for RPI's entrepreneurial community. This fund will enable students and faculty to innovate freely, knowing they have the resources to turn new discoveries into viable products and thriving businesses." Ajit Prabhu's leadership at Quest Global, one of the world's fastest-growing engineering services firms with over 21,000 engineers worldwide, underscores his dedication to solving the hardest engineering problems across industries including Aerospace, Energy, High Tech, and Automotive. His core belief—that culture and aspiration are as critical as strategy—aligns perfectly with RPI's mission to inspire the next generation of forward-thinking problem-solvers. About Quest Global At Quest Global, it's not just what we do but how and why we do it that makes us different. We are in the business of engineering, but what we are really creating is a brighter future. For over 25 years, we've been solving the world's most complex engineering problems. Operating in 18 countries, with over 84 global delivery centers, our 21,000+ curious minds embrace the power of doing things differently to make the impossible possible. Using a multi-dimensional approach, combining technology, industry expertise, and diverse talents, we tackle critical challenges faster and more effectively. And we do it across the Aerospace & Defense, Automotive, Energy, Hi-Tech, MedTech & Healthcare, Rail and Semiconductor industries. For world-class end-to-end engineering solutions, we are your trusted partner. Founded in 1824 for the application of science to the common purposes of life, Rensselaer Polytechnic Institute is the first technological research university in the United States. Today, it is recognized as a premier university, noted for its robust and holistic learning community that connects creativity with science and technology. RPI is dedicated to inventing for the future, from shaping the scientists, engineers, technologists, architects, and entrepreneurs who will define what's next for humanity, to research that bridges disciplines to solve the world's toughest problems. Learn more at
Yahoo
28-04-2025
- Business
- Yahoo
Conservation group buys 109 acres in Berkshire County
TYRINGHAM, Mass. (WWLP) – A Berkshire County conservation organization has purchased property to protect lands near Beartown State Forest and the Appalachian Trail. Berkshire Natural Resources Council (BNRC) has acquired 109 acres along both sides of Webster Road in Tyringham. It will be protected with conservation restrictions held by BNRC and New England Forestry Foundation. It is within a half mile of the Appalachian Trail and abuts the Beartown State Forest. Healey administration awards grants to improve water supply in Ipswich River communities By adding to these protected lands, BNRC strengthens a network of conserved forests in Tyringham, Otis, and Becket that are crucial for biodiversity, wildlife movement, and climate resilience. Currently, there are no plans to create trails on the property, but it will remain open for passive recreation. 'This land features a remarkable mix of hardwood forest species, hemlock stands, and wetlands, including the headwaters of Merry Brook, a designated cold-water fishery important to native brook trout,' said Nick Pitel, BNRC's Director of Conservation. 'We are thrilled to continue to advance conservation in this ecologically rich area, protecting it from development and preserving habitat for rare species.' 'This property sits at the heart of a significant conservation landscape and exemplifies the goals of the Catalyst Fund, which prioritizes biodiversity and climate resiliency. We are very pleased to be able to support BNRC's land conservation work in the Southern Berkshires,' said David O'Neill, Mass Audubon's President. The land was purchased for $650,000 and funded by the Nion Robert Thieriot Foundation, Mass Audubon Catalyst for Conservation, the Wyncote Foundation, the Commonwealth of Massachusetts Land Acquisition for Forest Reserves Grant Program, and private donors. WWLP-22News, an NBC affiliate, began broadcasting in March 1953 to provide local news, network, syndicated, and local programming to western Massachusetts. Watch the 22News Digital Edition weekdays at 4 p.m. on Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
06-03-2025
- Business
- Yahoo
Nashville affordable housing fund makes first loan. Here's how it works.
Nashville's Catalyst Fund, designed to help affordable housing developers and landlords acquire and preserve attainably-priced homes, has announced its first loan deal. The fund on Wednesday announced its first investment, a $450,000 low-interest loan to Gentry Investment Properties to acquire a four-unit home in Madison. The company plans to purchase the property and update its individual units as they become available over time. It's the first major action for the Catalyst Fund, which was launched in June as a collaborative effort between Metro Nashville and the Community Foundation of Middle Tennessee. The central purpose of the fund is to give affordable housing developers a competitive edge to preserve more housing units that would likely otherwise be replaced by high-end homes in Nashville's fast-paced market. The fund's financing structure requires that two of the four units be maintained as attainably-priced for families with incomes at or below Nashville's Area Median Income (AMI), which is currently $96,250 for a family of three. Tenants at the Madison property may also use federal Housing Choice Vouchers to subsidize rent payments for families making a very low or extremely low income (defined as being below 50% or below 30% of the Nashville AMI, respectively). Vandale Gentry, principal at Gentry Investment Properties, said the fund has been instrumental for the project. He is a participant in Urban League of Middle Tennessee's Real Estate Developers Academy, which trains emerging affordable housing developers from minority backgrounds. 'Their support has been invaluable," he said about the Catalyst Fund, in a news release. The fund also announced the results of its first round of capital fundraising, which totaled $76 million. Investments came from Regions Bank, Citizens Savings Bank & Trust, Pinnacle Financial Partners and others. The fund aims to raise another $20 million in its next investment round. First Horizon Bank contributed a $50 million line of credit while Vanderbilt University invested $5 million. "When we launched the Catalyst Fund, we joined forces with the financial and philanthropic community to add another tool to preserve affordable homes in Nashville that might otherwise be lost to redevelopment,' Mayor Freddie O'Connell said in a news release. 'I'm encouraged to see the shared investment beginning to pay off in the community." The following is a complete list of the first round of fund investors: Citizens Savings Bank & Trust First Horizon Bank FirstBank Metropolitan Government of Nashville and Davidson County Pinnacle Financial Partners Regions Bank Ryman Hospitality Studio Bank The Healing Trust Vanderbilt University This article originally appeared on Nashville Tennessean: Nashville Catalyst Fund makes first investment for affordable housing
