The fund, which will be dedicated to people working in the engineering sector, was allegedly green-lighted by Prince Philip himself in 2017 when he agreed to the creation of a fund in his memory in the future.
Philip had a close relation to the institution as he helped set up the Academy in 1976 and spent half a century as a senior fellow.
Princess Anne, also a fellow of the school, unveiled the new fund on 21 October by signing the Fellows’ Book which had been placed beneath a large, three part painting of her late father.
Professor Sir Jim McDonald, the Academy’s President, said the institution will always be indebted to Prince Philip for his passion for engineering.
“As we approach our first half century, I am delighted that we are able to mark our Senior Fellow’s extraordinary contribution by creating the Prince Philip Fund, to enable our Fellows and partners to create an enduring legacy that reflects his passion for engineering and his desire to inspire others to pursue engineering as a profession.”
“[Prince Philip’s] support and advocacy for engineering enabled us to grow and thrive as a leading national Academy delivering impact and value through engineering excellence and expertise.”
It’s not the first time that Princess Anne has taken a leading role within an academic institution.
However, the Princess Royal herself never attended university.
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She also received several honorary degrees including one from the University of Aberdeen that she received from the hands of her sister-in-law Camilla in 2020.