New CMU center will support entrepreneurial activities
CMU alum James R. Swartz, donated $31 million to support the school’s efforts to bring together cross-university initiatives. Swartz is founding partner of the global venture capital firm Accel Partners and one of the most successful venture capitalists in the world.
The gift includes $13 million in permanent university endowment that will help support Presidential Scholarships and Fellowships for students, a faculty chair, entrepreneurs-in-residence and an executive director and staff for the center. An additional $18 million will fund programmatic and infrastructure projects over the next four years.
The investment comes as the university builds momentum as a leader in innovation, artistic creativity, learning technologies and transformational discoveries at the crossroads of different academic fields and disciplines. Startup activity among the university’s faculty, students and alumni has been robust, with more than 138 companies created since 2009. CMU is poised to create a new innovation corridor with global impact in research, invention and commercialization.
Source: Keystone Edge