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Jimmy Iovine and business partner Dr. Dre who co-founded Beats by Dre are venturing into another business deal.  They have come together to donate $70 million to create a new music academy at University of Southern California.

The four-year program will teach undergraduates the necessary skills to be successful in the music industry.  The dean of the university Erica Muhl will conduct interviews to staff professors that will teach courses in engineering, computer science, fine arts, graphic design, business, and leadership training.

According to a statement issued by USC, “industry icons and innovators as visiting faculty and guest speakers” will also take part in the program.  It will also provide one-on-one mentoring by professors.

USC’s Jimmy Iovine and Andre Young Academy for Arts, Technology and the Business of Innovation is set to open in the fall of 2014 with an initial class of 25 students.

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