$10 million gift ensures construction of new entrepreneurship hub at KU

LAWRENCE — The University of Kansas School of Business received a $10 million gift commitment from an anonymous donor that ensures the construction of a new entrepreneurship hub building that benefits the greater KU community by teaching students to solve problems in meaningful ways.

The dynamic, purpose-driven facility will foster entrepreneurship and innovation and serve all KU students, regardless of their field of study. It will be built at 1420 Crescent Road, formerly the site of McLain’s Bakery and, previously, Jayhawk Bookstore.

The gift supplements the donor’s 2023 lead gift of $50 million to transform business education and research at the school, for a total gift of $60 million. The gift is the largest in KU School of Business history and provides funds to advance key initiatives supporting undergraduate student success — not just the entrepreneurship program but also career-focused opportunities within the school’s Business Professional Development Program, study abroad programming and academic enrichment.

The donor, a longtime KU supporter who is deeply invested in the success of the university, believes in the power of entrepreneurship to create effective ways to solve problems and improve lives. For the donor, this gift is a catalyst that hopefully will spark broader philanthropic giving from others with a few goals in mind:

• Equip students to explore opportunities that revitalize Kansas towns.
• Develop new entrepreneurial opportunities in critical areas to Kansas such as health care delivery, energy sustainability and education.
• Prepare graduates to bring entrepreneurial competency into any career.

“The University of Kansas is in the midst of a transformational era, marked by significant advancements across campus — including a stronger, more innovative business school and a new entrepreneur center. We are proud to play a part in the overall progress of the university,” the donor said.

Having a dedicated entrepreneurship facility will position KU competitively with peer institutions. Seventy percent of student participants in entrepreneurship initiatives currently are outside the School of Business; the hub will give them a physical location to concentrate, collaborate and create, accelerating learning and building entrepreneurial competency.

“One of the ways KU drives economic growth in Kansas is by ensuring our graduates have the skills and the entrepreneurial ability to succeed in their fields,” said Chancellor Douglas A. Girod. “This gift creates a greater KU for all students, with the hub expanding entrepreneurship’s reach and impact.” 

The facility will serve as KU’s new home for entrepreneurship cocurricular programs, which currently include The Catalyst, Jayhawk Consulting and RedTire (Redefine Your Retirement), among others. These initiatives give KU students from all disciplines the opportunity to gain hands-on experience — whether by advancing their own ventures with mentor support, offering strategic consulting to regional clients or helping retiring business owners transition their businesses to the next generation.

“This investment will elevate how the School of Business equips all KU students with the tools and experience to drive innovation,” said Jide Wintoki, incoming KU School of Business dean. “Having this dedicated space marks a significant step forward in our commitment to hands-on, interdisciplinary entrepreneurial education at KU.”

A gift this size, with reach that spans every school and unit across the university, will benefit students for generations, said KU Endowment President Dan Martin.

“The future of KU is brighter with the dreams the hub will enable,” Martin said. “We are deeply grateful for the donor’s dedication to the students at KU who will build invaluable entrepreneurship skills that they will carry with them for a lifetime.”

KU Endowment is the independent, nonprofit organization serving as the official fundraising and fund-management foundation for KU. Founded in 1891, KU Endowment is the first foundation of its kind at a U.S. public university.