Andrew Sabin Family Foundation Establishes Yale Prize to Support Eco-Ventures

With a goal to stimulate environmental entrepreneurship, the Andrew Sabin Family Foundation recently established the Sabin Environmental Venture Prize at Yale. This $25,000 annual award will support faculty and student interest in the creation of new nonprofit and commercial organizations, business models, or other innovations that address pressing environmental challenges.

“The Sabin Prize will jump-start new ideas, practices and products toward a better environment and a more sustainable future,” said Dean Gus Speth of Yale’s School of Forestry & Environmental Studies. “I am so grateful for the support of the Andrew Sabin Family Foundation in sponsoring this new prize at Yale.”

Examples of proposed ventures could include new technology for desalination, a startup to distribute existing technologies such as solar-powered lanterns to rural villages lacking electricity, or a venture arising out of an existing Yale center or program. The first Sabin Prize will be awarded in April 2009 by the Center for Business and the Environment at Yale.

The Sabin Prize was made possible through a generous gift from the family foundation of Yale friend Andrew Sabin, who said he decided to sponsor the prize because of his concerns about today’s environmental threats to the planet and their consequences for future generations. “Everyone has a moral obligation to protect our natural world for our children and those who follow,” he said.

Sabin noted that he chose Yale as the host of his sponsored prize because he felt it was the most appropriate institution to field such an undertaking. “Yale is widely recognized as one of the leading institutions in the world on environmental and sustainability issues, and I am confident that the ideas arising from this competition will spur many exciting new ventures,” he said.

The Center for Business and the Environment at Yale will also host the Sabin Prize Speakers Series, a public lecture series on environmental entrepreneurialism that will feature several successful entrepreneurs. Each lecture in the series will be recorded and made available on YouTube through a link from the center’s website at http://cbey.research.yale.edu/.

Andrew Sabin is the president and owner of Sabin Metal Corporation, and he has been a member of Yale’s FES Leadership Council since 2002.

(October 17, 2008)

October 17, 2008