The Manx Educational Foundation is a step closer to reaching its target to fund the new International Centre for Technology.
A £1 million donation has come from local business figures David and Alison Dorricot.
It boosts funds to £7 million in total, with an additional £5 million still needing to be raised.
David is the director of AFD Software - he told us why he feels it is important the private sector get behind the plan:
Forecast high winds cancel three ferries
New Iranian ruler tied to Manx-registered company
Temporary speed limits around TT course from this week
Government considers laws for BYOB events
Police warn about bad behaviour in school - by parents
New fashion outlet for Peel this weekend
Weather warning for gale force winds
Politician raises questions about student loan changes