The MIT Press receives $10 million endowment gift for open access to knowledge | May 8, 2023

"The MIT Press today announced that it has received a $10 million gift from Arcadia—a charitable foundation that works to protect nature, preserve cultural heritage, and promote open access to knowledge—to establish the Arcadia Open Access Fund. The new fund will support the MIT Press’s ground-breaking efforts to publish open access books and journals in fields ranging from science and technology to the social sciences, arts, and humanities. It will also help the MIT Press continue to develop tools, models, and resources that make scholarship more accessible to researchers and other readers around the world. “We are incredibly grateful to Arcadia for this generous gift,” said Amy Brand, Director and Publisher of the MIT Press. “The new endowment makes it possible for the MIT Press to build on and sustain its influential publishing programs. With this enduring support for open books and journals, we can use our power as an academic publisher to expand public understanding of scholarship and science and to democratize participation in research.” Arcadia is providing an outright endowment gift of $5 million, as well as a $5 million “challenge” gift to incentivize other funders by matching their support of MIT’s open publishing activities...."