California State University, Monterey Bay has received a $30,000 gift from Wells Fargo to support two programs in the College of Business.

The gift will support the Institute for Innovation and Economic Development as well as a program that helps prepare students for the business world.

“Wells Fargo has been a wonderful supporter of the College of Business,” said Dr. Shyam Kamath, dean of the College of Business, noting that the bank has contributed to CSUMB over the years.

The Institute for Innovation and Economic Development provides leadership in creating a vibrant and globally connected entrepreneurial community in the Monterey Bay region.

The Diamond Key Program helps students develop the professional skills, poise and confidence needed for today’s competitive job market with a set of experiences woven into the academic curriculum.

In appreciation for the generous gift, a space in the university’s newly opened Business and Information Technology Building was named for the bank.

“I love this campus,” said Joe Mathai, president for Wells Fargo’s Valley Coastal Market. “We support the College of Business because it provides future small business owners and entrepreneurs the foundation they need to thrive in a competitive business environment and, in turn, they will help make our communities strong and successful.”