MIT honours ‘father of Lanka’s apparel industry’ Martin Trust

Thursday, 1 December 2011 00:00 - - {{hitsCtrl.values.hits}}

The Massachusetts Institute of Technology (MIT) announced the dedication of the Martin Trust Center for MIT Entrepreneurship, which provides students and faculty across the Institute with programs and space to transform their ideas into new business ventures.

The newly-named and redesigned center aims to foster entrepreneurship at the school and around the world.

Recognised as one of the pioneers of ‘speed sourcing’ for the American fashion retail sector, Martin Trust started his first business — Mast Industries — in 1970 with a modest $ 1,000. In 1978, his company, a contract manufacturer, importer and distributor of clothing, merged with The Limited Stores, now Limited Brands.

A visionary entrepreneur, he transformed the sourcing landscape and was instrumental in placing Sri Lanka firmly on the apparel sourcing map. Trust established his first joint venture partnership in Sri Lanka – a casualwear operation with Brandix (formerly known as LM Apparels) in 1986. He has since invested in over two dozen joint venture companies in the country.

Widely regarded as the father of Sri Lanka’s apparel industry, he was conferred the honorary title of ‘Ranjana’ by the Government of Sri Lanka in 1994 for his contribution towards the development of the industry.

The Trust Center for MIT Entrepreneurship supports all five schools at MIT and its activities and services bridge academic disciplines with its programs available to rising entrepreneurs across the university, including undergraduate and graduate students and faculty.

The Trust Family Foundation donated $10 million in support of construction costs as well as ongoing programming at the center. These programs include expanded classes on entrepreneurship to reach broader MIT audiences, platforms for student experimentation, opportunities and networking exposure, as well as projects designed to drive entrepreneurship around the world.

Currently the founder and President of Brandot International, Trust continues to hold investments in several joint venture partnerships with apparel and textile companies in Sri Lanka. He also serves on the board of Virtusa Corporation, the information technology services company.