Sanford Kaplan entered the business world in the US at the end of the Second World War, on his return from service in the US Navy. Kaplan went on to serve on the boards of trustees of a number of large companies, including Intel and Xerox, and was also a highly active member of the board of directors of the American Technion Society.
Kaplan financially supported a number of projects at the Technion, such as construction of the eastern student dormitories, the Sanford Kaplan Chair of Aeronautical Engineering, the construction of faculty common rooms, and various research projects. In 1995 he was awarded an honorary doctorate by the Technion. Sanford passed away in 2006.
The Sanford Kaplan Prize for Creative Management in 21st Century High-Tech annually awards a $5,000 grant to a student or faculty member for a technological initiative that brings together cutting-edge research with development of a competitive product.