The donation is a part of Algol's initiative where the company donates to several different universities within the state matched-funding scheme.
With these donations, Algol wants to support Finnish high-quality higher education and research.
"It is important that the business sector contributes to art, culture and top research. High-quality research and teaching are also important for our own success in the long run," says Alexander Bargum, CEO of the Algol Group.
Algol is a group with operations in several different industries and with experience in international trade since the 19th century. The group's subsidiaries manufacture, services, import and sell products for industry and the healthcare sector. This is the second time Algol has donated to the University of Helsinki.
"In the Finnish higher education field, the University of Helsinki represents a high, multidisciplinary international level in research, innovation and educational ideals," says Bargum.
The state capitalises the universities in 2020-2022 through a matched-funding scheme, which means that the state adds a certain amount for each euro in private donations received by universities during the period from the 15 June 2020 to 30 June 2022.