So9
There really isn't any major rival in the Pacific Northwest. While sometimes the names of schools like WSU or the University of Oregon are bandied about as rivals, in reality UW is the major force in education in the Pacific Northwest. Most of that is due to the medical school (which, without qualifications, is one of the best in the world), and the massive amount of political clout UW has. A very significant number (if not an outright majority) of business leaders and politicians in the Pacific Northwest have studied at UW or have strong connections to UW.
I find it unlikely that any politicians or business leaders in the state of Washington would even consider trying to diminish UW's importance. This is sort of unfortunate in a way, because with all the focus on UW, the state of Washington has not built enough schools to allow the majority of students in state the ability to study at a school in Washington.
So9,
"Wouldn't it make more sense to set up the fund at U Wash's biggest rival?"
Ohhh, I like that!!!