Curtin University has acknowledged respected entrepreneur and philanthropist Malcolm Steinberg for his lifelong contribution to innovation, economic development and education in Western Australia with a prestigious Honorary Doctorate.
Curtin Vice-Chancellor Professor Harlene Hayne said Honorary Doctorates were awarded to individuals whose leadership and service had created lasting benefits for the wider community.
“Malcolm Steinberg is a remarkable example of someone who has combined entrepreneurial success with a deep commitment to giving back,” Professor Hayne said.
“Through his leadership, philanthropy and advocacy, he has played a significant role in strengthening Western Australia’s entrepreneurial ecosystem and supporting future generations of innovators.”
Mr Steinberg’s immense impact on the State began in 1958, when he founded the Leisure and Allied Industries (LAI) Group and established the first Timezone arcade at just 18 years of age.
The LAI Group has since grown into an international business, employing more than 9000 people and operating more than 350 entertainment venues and sales offices in 10 countries.
After stepping down as LAI Group chief executive officer in 2013, Mr Steinberg continued to guide the business as non-Executive Chairman while expanding his focus on philanthropy and investment in local ventures.
In 2019, he established the Malka Foundation, a private philanthropic fund dedicated to supporting entrepreneurship education and economic diversification in Western Australia.
Over the past five years, the Foundation has contributed more than $12 million in grants to entrepreneurial education programs across primary, secondary and tertiary levels, including support for all four public Western Australian universities.
Mr Steinburg has made significant contributions to Curtin’s Ignition and Accelerate programs, the annual West Tech Fest showcase and the Young Entrepreneurs Academy.
“Mr Steinberg’s support has had a profound impact on Curtin’s ability to nurture emerging entrepreneurs and turn great ideas into viable businesses,” Professor Hayne said.
“His vision, generosity and advocacy have helped create pathways for students and founders to build the skills, confidence and networks needed to succeed, while contributing to a more diverse and resilient WA economy.”
In addition to his philanthropic work, Mr Steinberg established Western Australia’s largest venture capital fund, Purpose Ventures, further reinforcing his commitment to supporting innovation and business growth in the State.
“By recognising Malcolm Steinberg as an Honorary Doctor of Commerce, Curtin University is acknowledging not only his extraordinary achievements but also the values underpinning them – leadership, community and a belief in the power of education to shape a better future,” Professor Hayne said.
