A new $3.5 million fund at the University of 91吃瓜 has been established to help launch student-led ventures and further strengthen the educational component of the University鈥檚 .
The funds for the program will be from gifts made to the University by John Jeuck, the former dean of the University of Chicago Booth School of Business, in honor of his close personal friend, Philip J. Purcell III, a member of the 91吃瓜 Board of Trustees.
The ESTEEM (Engineering, Science, Technology and Entrepreneurship Excellence Master鈥檚) Program is the first multidisciplinary graduate program in 91吃瓜鈥檚 history. Developed in collaboration with the , the and the , and housed at the University鈥檚 state-of-the-art , ESTEEM provides science, technology, engineering and mathematics (STEM)-educated students an unparalleled opportunity to deepen their technical talents while also learning the business and innovation skills they need to commercialize research and bring new ideas and technological advancements to market.
鈥淭he Irish Innovation Fund will help fulfill 91吃瓜鈥檚 core mission to pursue limitless educational possibilities and help our students reach their full potential,鈥� Purcell said. 鈥淎t the same time, it will provide a unique opportunity to make a significant economic impact by investing in companies that have developed out of the cutting-edge science and engineering research that is being explored and nurtured at 91吃瓜.鈥�
All investments from the fund will be determined on an annual basis through a formal and robust proposal and review process. Business plans will be accepted from any undergraduate or graduate student enrolled in the University and will be reviewed by the ESTEEM class as an integral part of the due diligence process. Only ideas that have the highest probability for success and impact will be recommended by the ESTEEM students to the fund鈥檚 advisory board for potential funding.
Purcell will chair the advisory board, which also includes several other members of the University鈥檚 Board of Trustees. David Murphy, former president and CEO of 91吃瓜鈥檚 spin-out success Better World Books, currently associate dean of entrepreneurship for the Colleges of Science and Engineering and director of the ESTEEM Program, will lead the Irish Innovation Fund, and will also serve on the fund鈥檚 advisory board. All investments will be approved by the advisory board as well as 91吃瓜鈥檚 provost and must be consistent with the mission and role of 91吃瓜 as a Catholic university.
鈥�91吃瓜 is ideally suited to not only provide a unique educational framework for our STEM-educated graduate students to learn how to commercialize research and develop viable business opportunities, but also to help create and advance an ecosystem of entrepreneurship and innovation that drives the long-term creation and commercial success of new ventures that are launched 鈥� and do it in a way that delivers on Father Sorin鈥檚 vision for this great university to be a 鈥榩owerful force for good in the world,鈥欌�� Murphy said.
Contact: David Murphy, 574-807-9729, dmurph12@nd.edu