As chair of Cisco Systems, I understand that better than most people. Stanford has touched Cisco and other Valley institutions in a vast variety of ways. It is the catalyst that helps make the Silicon Valley economic miracle continue to happen, yet many of us take Stanford's quality teaching and research for granted. True, the institution has a large endowment, but, in fact, almost half of the annual funding for Stanford's advanced training and research in science and engineering comes from the Federal Government. In an era of budget downsizing, continued funding is no longer assured.

resident Gerhard Casper officially launched the $200 million Stanford Graduate Fellowships program at an April 15 press conference, heralding the new initiative as a means "to make our graduate students less dependent on the vagaries of federal funding."

Mr. Casper announced that, to date, Stanford had received pledges and gifts totaling $108 million for the program, the first $100 million to provide one-for-one matches for the second $100 million. Two of the program's founding donors also spoke -- John Morgridge, MBA '57, chair of Cisco Systems and chair of the programs National Volunteer Leadership Council, and Robert Bass, MBA '74, president of Keystone, Inc. and chair of Stanford's Board of Trustees.

The payout from the $200 million endowment will contribute approximately $10 million annually to support over 300 students pursuing doctoral degrees in the natural sciences, mathematics, statistics, engineering, the basic sciences in the School of Medicine, and those social sciences that currently depend on federal assistantship support. Each Fellow will receive a tuition voucher of $12,000 and a stipend of $16,000 for each of three years. Perhaps most remarkable about the fellowships is that students will be able to work in a lab or research group of their choice. Currently, many science and engineering graduate students have to pursue research areas based on available funding.

Mr. Bass addressed the importance of such fellowship support saying, "Industry and science now and in the future call for creative, smart, well-trained, well-grounded, independent, as well as department-based research -- research capable of making new connections where, for example, electrical engineers work with biochemists and scientists from other disciplines." Mr. Casper added that the freedom guaranteed by the Stanford Graduate Fellowships is not only important for the graduate students, but also for faculty who compete for graduate students to work on their research projects.

Many of the founding donors are Silicon Valley executives and venture capitalists who recognize the importance of Stanford's cornerstone role in the burgeoning of the area over the past 20 years. Mr. Morgridge noted that he hopes "to try and tap into those who have so generously benefited from the Valley miracle."

A celebratory luncheon followed in Tresidder Union attended by about 100 guests including lead and founding donors, alumni, friends, faculty, and staff.