Yale was founded in 1701 in a town near New Haven by a group of church ministers. At first it was called "The Collegiate School" and was created to teach male church ministers in Connecticut. When Elihu Yale, a businessman with the East India Company, gave the school money and books in 1718, the school changed its name to Yale College. It moved into the center of New Haven in the same year. About fifty years later, the school began to teach other subjects like science and history. As the school became more liberal, it became one of the first American schools where extracurricular student groups were created, especially singing groups, sports teams, and student publications like the Yale Daily News.