NTU medical school receives $150 million gift from Lee Foundation NTU's new medical school, a partnership by NTU and Imperial College London, has received a gift of $150 million from the Lee Foundation. In recognition of the gift, the medical school will be named the Lee Kong Chian School of Medicine, after the founder of the Lee Foundation. The school will accept its first students in 2013. This is believed to be the biggest sum of private donation in local history. Together with the enhanced Singapore Government matching, NTU will receive a gift amounting to $400 million. The $150 million from the Lee Foundation will be used to establish two endowment funds at the new medical school. Half of the gift - $75 million - is specifically designated for an endowment fund offering student financial aid in the form of scholarships, bursaries and other forms of student financial support. The remaining $75 million will form another endowment fund for the advancement of medical education and clinical research at the new medical school. The new medical school was announced by Prime Minister Mr Lee Hsien Loong at his National Day Rally speech last year.