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Aftermath CEO Dr. Dre and Interscope Geffen A&M chairman Jimmy Iovine are giving $70 million to the University of Southern California. The gift will create the USC Jimmy Iovine and Andre Young Academy for Arts, Technology and the Business of Innovation
The academy will focus on arts and entrepreneurship; technology, design and marketability; concept and business platforms and creating a prototype.
Students will be able to interact with guest speakers and lecturers from the arts and entertainment field and have one-on-one faculty mentoring from USC's schools of business, fine arts, engineering and music
25 students will enroll in the academy in the fall of 2014. Additional applicants will be chosen by "a rigorous review process" based on academic achievement and the "proven ability for original thought," according to Rolling Stone.
"The vision and generosity of Jimmy Iovine and Andre Young will profoundly influence the way all of us perceive and experience artistic media," university President C. L. Max Nikias said. "USC provides an extraordinarily rich academic, research and artistic environment. We are committed to encouraging our students to use their intellectual and creative resources to effect change in all segments of society. Our goal is to ensure that the academy is the most collaborative educational program in the world."
Part of the donations will go to financially supporting disadvantaged students to “go on to do something that could potentially change the world,” Dre said.