Singularity University planning to go for-profit
- Singularity University in Mountain View, Calif., began with a non-profit mission to prepare the world for coming technological changes, but its leaders appear to be rethinking that strategy, possibly converting to a for-profit model by the end of 2012.
- A spokesman for the school told Wired that a final decision to go for-profit has not yet been made, but options are being explored, and one model being explored is a "benefit corporation," which California allows for socially conscious businesses.
- State records show that a corporation called Singularity Education Group has already been formed.
From the article:
Singularity University was established in 2008 to “prepare humanity for accelerating technological change.” At the time, this seemed like a charitable mission, but today university overseers see room to make money too. The University’s leaders are drawing up plans to convert the non-profit university into a for-profit corporation under a new category of socially responsible business. Some believe it will happen by the end of the year.
The corporation has already been formed, according to state records, under the name Singularity Education Group. ...
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