Chalmers University of Technology will be offering around 50 IPOET scholarships in 2020, funded by the Swedish Council for Higher Education, to prospective fee-paying students. The university was founded in 1829 following a donation by William Chalmers, a director of the Swedish East India Company. He donated part of his fortune for the establishment of an "industrial school". Chalmers was run as a private institution until 1937, when the institute became a state-owned university. In 1994, the school was incorporated as an aktiebolag under the control of the Swedish Government, the faculty and the Student Union. Chalmers is one of only three universities in Sweden which are named after a person, the other two being Karolinska Institutet and Linnaeus University.