It's only natural that a Wharton alumnus goes into the world and makes a lot of money.
But 1961 Wharton graduate William Mack is giving something back to the place that helped start his career.
The Wharton School recently announced the creation of the William and Phyllis Mack Center for Technological Innovation, established with a $10 million donation from Mack.
The Mack Center will be the umbrella organization for all of Wharton's technological initiatives and will support research by Wharton faculty.
"The Center is going to be a great resource in stimulating curriculum and research development," Wharton Deputy Dean David Schmittlein said.
Mack is the president of the Mack Organization, which develops warehouse facilities nationwide. He is also chairman of the Mack-Cali Realty Corporation and founded Apollo Real Estate Advisors.
"The future of the world has to do with technological innovation," Mack said in a statement. "Wharton's role is to help companies improve how they manage technological innovation."
While Mack's expertise is in real estate, he chose to invest in something with a more universal impact.
"I began by asking [former Dean] Tom Gerrity and then [Dean] Pat Harker what they deemed to be priorities for the School," Mack said. "The more we discussed it, the more we came to a situation where I felt the future of the world has to do with technological innovation."
The Center will include the Mack Program in Technological Innovation, encompassing the Wharton Emerging Technologies Management Research Program, a learning network for business executives taught by senior Wharton faculty.
The Mack Center will also create a cross-functional MBA major in Technological Innovation, administered by Wharton's Operations and Information Management Department.
"We will be able to offer additional course offerings in the form of project oriented courses," Schmittlein said.
The Center, co-directed by Marketing professor George Day and Management professor Harbir Singh, will also establish an annual student conference, bringing together industry executives, government officials and Wharton faculty to discuss technological innovation.
In addition, Mack's donation also endowed a professorship for management of technological innovation, for which there will be a global search.
"The Center will ensure Wharton's status as the global educational leader in managing technological development and innovation, with far-reaching impact on our students and the entire business community," Harker said in a statement.
According to Schmittlein, "there will be a lot happening over the next 6 to 12 months, with additional activities being planned."
Mack is a member of both the University's Board of Trustees and Wharton's Board of Overseers.
The Wharton Campaign For Sustained Leadership, launched in 1996, seeks to raise $425 million for attracting faculty, supporting research and offering student scholarships. Mack's gift is part of this campaign.
As of January, 2001, Wharton has raised over $320 million towards its goal.
