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Traditionally, non-profit College has operated on the lowest rung of the ladder of American education, catering for students in poor and underclass who is searching for a basic, comfor degree or technical training. Candidate Ivy Leaguers stay away from industrial sites.
This week, the Minerva project, the startup online University, announced that it has received $ 25 million in seed financing from benchmark capital, a leading Silicon Valley venture capital firm famous for initial investment in eBay, among other successful companies that web. Minerva bills itself as “the first elite American University will be launched in the twentieth century”, and promised to re-envision higher education for the information age. Chairman of the Board of advisors: Larry Summers, former Treasury Secretary and Harvard President. Among other things, he is joined on the Board by Bob Kerry, former United States senator and President of the New School.
A non-profit school trying to elbow its way into the top tier of American Universities certainly could do worse for pedigree. * but what makes it interesting is not the possibility that Minerva one day it might replace the Harvard, Yale, Cornell, or even in the hearts of American scholars. Maybe not. Rather, it is what school it might show us about the State of global education market, and how the United States might be able to turn its reputation for excellence into the high-tech industry pedagogical exports.
The brains behind Minerva’s Ben Nelson, former CEO of Snapfish online photo finishing companies. Nelson describes himself as a “student of history in higher education”, and said that the idea of dragging the College into a modern-day personal passions has been since the day scholars at the University of Pennsylvania. He also had something like Trump’s weakness for superlatives.