In 2013 the two donated $70 million to help build the 10,000 sq ft academy scheduled to open in fall 2019. It will be called The Jimmy Iovine and Andre Young Academy for Arts, Technology and the Business of Innovation.
The academy will focus on four areas: art and design; engineering and computer science; business and venture management; and communication. It's goal is to encourage entrepreneurial spirit while training students in technical and business skills.
"I'm hoping that it will bring to them independence of thought to be able to work in the world between technology and liberal arts," Iovine said.
Take a look at the video below for more details...