New York University Joins Nationwide Kauffman Campuses Initiative to Expand Entrepreneurship Education across Campus
NEW YORK--(BUSINESS WIRE)--New York University has been awarded a $1 million grant by the Ewing Marion Kauffman Foundation to make entrepreneurship education a common and accessible campus-wide opportunity for college students. The grant is part of a $200 million effort to transform the way entrepreneurship education is taught in the nation’s colleges and universities. Under this initiative, NYU will raise $5 million to match the Kauffman funds.
New York University was one of a select number of colleges and universities across the country that received grants as part of the Kauffman Foundation’s Kauffman Campuses Initiative, which was launched in 2003 to foster the creation of interdisciplinary entrepreneurship education programs in American higher education that are available to all students regardless of major.
With this grant, New York University will create The Kauffman Entrepreneurial Campus Program, led by The Berkley Center for Entrepreneurial Studies, housed in NYU’s Stern School of Business. The Berkley Center, with its multi-tiered research, pedagogical and co-curricular emphasis, has an established track record of success in uniting the schools of NYU in entrepreneurial endeavors.
William Baumol, Harold Price Professor of Entrepreneurship and Academic Director of the Berkley Center for Entrepreneurial Studies at NYU Stern, will lead this pan-campus initiative, which will focus on the preparation and effective training of both innovative (vs. replicative) entrepreneurs, as well as social entrepreneurs, while working as a catalyst for enhanced entrepreneurial activity throughout the University.
NYU President John Sexton said, “Among the defining characteristics of the NYU community are its energy, its creativity and its affirmative lack of contentment with the status quo. Entrepreneurship was key to creating the NYU that exists today. This grant from the Kauffman Foundation is a perfect fit for NYU, and it will slake a great thirst among our talented for entrepreneurship learning and activities. We are grateful to the Foundation for selecting us.”
New York University was selected based on a series of criteria, including the ability to create a culture of entrepreneurship that permeates the campus, the potential to create new representative models, and the ability to partner with other foundations and funders.
“With the Kauffman Entrepreneurial Campus at NYU, we have an unprecedented opportunity to bridge the gap between replicative entrepreneurship—the creation of new enterprise that duplicates an abundance of preexistent establishments—and innovative and social entrepreneurship—which are critical for economic growth and the reduction of social ills, but for which no teaching program whose effectiveness is based on evidence currently exists,” said Professor Baumol. “Our goal is to create a model program at NYU through collaboration with our University partners, one that can serve as a model for educational institutions around the world.”
“At the core of entrepreneurship is a dissatisfaction with the status quo, an addiction to change, a drive toward bigger, better and faster and the exercise of the imagination without restraint,” said William R. Berkley, BS ’66, Chairman of the W.R. Berkley Corporation as well as NYU Stern’s Board of Overseers, member of NYU’s Board of Trustees, and main benefactor of Stern’s Berkley Center. “This is the culture we will continue to make synonymous with that of NYU.”
Er, uh, ahem.
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