FAYETTEVILLE — An effort to bring together University of Arkansas, Fayetteville researchers from across disciplines will receive a $194.7 million boost from the Walton Family Charitable Support Foundation, the university announced Tuesday.
The gift establishes the University of Arkansas Institute for Integrative and Innovative Research, with state leaders describing the new research institute and a planned facility in Bentonville as a way to help the economy in Arkansas.
“The enhancement of the University of Arkansas’s focus on research to commercialization and entrepreneurship education will have a lasting impact on the state, its businesses and economy. The funding is a clear position of confidence in the University of Arkansas and will strengthen their position as a leading public research university,” Gov. Asa Hutchinson said in a statement.
The new institute will focus on five “clusters of innovation”: data science; food and technology; materials science and engineering; bioscience and bioengineering research in metabolism; and integrative systems in neuroscience.
Chancellor Joe Steinmetz, in a statement, said “all transformational solutions start with questions,” including, “how do we ultimately change the culture of collaboration in such a way that it advances the research and commercialization profile and production of the university?”
“The creation of an interdisciplinary and wholly integrative research institute was the answer,” Steinmetz said.
The gift will be used to build the main facility and also will allow for the hiring of 20 new faculty, according to UA.
“The future location of the building is still to be determined. We anticipate that decision to be made in the coming weeks,” UA spokeswoman Amy Schlesing said in an email.
The gift also includes $14 million for a Bentonville campus, with information released by UA describing initial plans to lease a facility.
“A planning process will commence this summer to plan for populating the space comprehensively with outreach, research and relevant lab space, as well as educational space. The Bentonville Campus is subject to approval by the University of Arkansas System Board of Trustees and appropriate accrediting agencies,” according to information released by UA.
Bentonville is home to the headquarters for Walmart Inc., founded by Sam and Helen Walton. The gift is the latest from the Walton Family Charitable Support Foundation, whose past gifts include $300 million to endow the university’s Honors College and $120 million to establish its School of Art.
“This grant will support the University of Arkansas as it seeks to drive innovation and transform entrepreneurship and research to commercialization for industries nationwide,” said Steuart Walton, chairman of the Walton Family Charitable Support Foundation Board, said in a statement. Steuart Walton is a grandson of Sam Walton and the son of Jim Walton.