Minerva University in San Francisco has announced a $20 million gift from Netflix founder and Giving Pledge signatory Reed Hastings.

The gift enables the university to focus on setting its plans in motion for long-term growth and provide scholarships to students with high financial need.

“I am honored that Reed Hastings recognizes the uniqueness of our approach at Minerva University and how we educate students to have a profoundly positive impact on the world,” said Minerva University president Mike Magee. “Reed deeply supports access to quality education for all students, and this incredibly generous gift validates our efforts to provide global higher education for a better world.”

“Minerva University has accomplished so much in a short time: from innovative concept to small pilot, to U.S. accreditation with over 600 students and nearly 600 alumni. I am excited to support Minerva into its next phase of global growth,” said Hastings. “This gift is intended to set Minerva on a trajectory toward educating many more thousands of students from around the world and dramatically increasing its positive impact.”

(Photo credit: Getty Images/Anchiy)