University to remember founder Bond

Bond University is to hold a memorial service and fly its flags at half-mast to mark the death of its founder.

The Gold Coast-based institution founded by the late businessman in 1987 was Australia's first private non-profit university.

Mr Bond has died in a Perth hospital, aged 77.

The university said in a statement to staff and students its "entrepreneurial spirit and fierce determination to be different owes much to Alan's legacy".

"With no financial support from either the state or commonwealth governments, Alan was determined to build a world-class educational institution.

"Alan did not possess the benefit of a university education himself but believed passionately in the advantages and opportunities that a university degree can provide."

It acknowledged Mr Bond had a "chequered past" and that the university "has never condoned Alan's business dealings".

"Rather we have accepted that Alan had another side and we are grateful for his vision, passion and determination that led to the establishment of Bond University," the statement said.

The university will hold a remembrance event and its flags will fly at half-mast over the weekend.