The Haydn Green Charitable Trust has donated £1.5m to the University to promote innovation and entrepreneurship.

The gift will build on the achievements of the University’s Institute for Enterprise and Innovation (UNIEI) as a national centre for entrepreneurship education.

UNIEI was founded at Nottingham University Business School in 2000 and now helps hundreds of students every year — at undergraduate, postgraduate and MBA level — to develop the entrepreneurial skills that will enable them to thrive as business leaders.

In honour of the endowment, UNIEI is being re-named The Haydn Green Institute for Innovation and Entrepreneurship.

Dr Vince Cable MP, Secretary of State for Business Innovation and Skills, unveiled a plaque in the Sir Colin Campbell Building on Jubilee Campus to recognise the generosity of the Haydn Green Charitable Trust.

The gift was presented by Hardev Singh, on behalf of the charity’s trustees. Mr Singh said: “The Haydn Green Charitable Trust has been set up by its trustees in the loving memory of the late Haydn Carrick Green, who passed away suddenly in 2007. Haydn was a successful Nottingham businessman, whose entrepreneurial flair brought innovative financial products to the market.

“The trustees believe that they must also help to build innovative and entrepreneurial structures within charitable or voluntary sectors by collaborating or by providing financial assistance. By launching the Haydn Green Institute for Innovation and Entrepreneurship under the leadership of The University of Nottingham, the trustees are confident that this Institute will continue to further the mission of the University by providing a truly international education, inspiring the students, producing world-leading research and benefiting the community with bold innovation and by encouraging excellence in entrepreneurship, which will help to improve life for the individuals and societies in the UK and worldwide.

“The trustees are also very grateful to Professor Nathu Ram Puri of The Puri Foundation for the invaluable advice and tremendous effort he has put in to help us and the University to launch this Institute.”

Professor Puri, Honorary Freeman of the City of Nottingham, said: “Haydn was a dear friend and I am delighted to help and advise the trustees. I was already in discussions with the University for a similar initiative and was pleased for it to be taken up by the Haydn Green Charitable Trust.”

By supporting the Institute’s education programmes and research, the endowment will benefit students and regional businesses as well as help meet a key Government goal of developing entrepreneurial skills.

The University is currently engaged in its biggest-ever fundraising campaign. Impact: The Nottingham Campaign is delivering the University’s vision to change lives, tackle global issues and shape the future.

Professor David Greenaway, Vice-Chancellor, said: “We are proud to be associated with the Haydn Green Charitable Trust, and delighted they wish to collaborate with the University to develop the Haydn Green Institute. The Trust joins a very special group of benefactors who have helped to transform the impact our University is having. This generous gift will ensure we continue to improve on the outstanding programmes and opportunities offered through UNIEI.”

UNIEI was launched by Professor Martin Binks, with support from the Department of Trade and Industry and the East Midlands Development Agency.

Professor Binks is now Dean of the Business School and has led entrepreneurship education that includes a popular MBA in Entrepreneurship, MSc, numerous cross-disciplinary MSc Entrepreneurship programmes in the University; as well as thriving undergraduate entrepreneurship programmes in the UK, China, Malaysia that involve the support of business people and entrepreneurs who mentor hundreds of Nottingham undergraduates every year.

Professor Binks said: “The resources generated by this donation will enable the Institute, the Business School, and the University to broaden and deepen the development of entrepreneurial skills that are so important in today’s economy. This will encourage innovation and growth in the short, medium, and long term both regionally and nationally.”