Duke Receives $15 Million for Innovation, Entrepreneurship Initiative

Duke University has announced a $15 million gift from trustee David M. Rubenstein to help catalyze the creation of start-up ventures by faculty, staff, students, and alumni.

The gift will provide support for Duke's Innovation and Entrepreneurship initiative, which was launched in 2010 to expand the social impact of the university's existing programs in entrepreneurship, establish new programs to educate the next generation of entrepreneurs, build a stronger culture of research innovation at Duke, and help move ventures created on campus to the global market.

To help encourage and foster innovation across the university, the initiative will engage individual academic departments and various schools at Duke, including the Fuqua School of Business, the Nichols School of the Environment, the schools of Medicine and Nursing, Duke Law School, and the Sanford School of Public Policy, in promoting and securing financial resources for market-driven early stage and translational research.

"Every successful institution began as someone's bright idea, and the creativity and can do spirit of entrepreneurs are playing an ever more important role in building the economy and solving social challenges," said Duke president Richard H. Brodhead. "In today's economic climate, sparking and training the entrepreneurial spirit is a fundamental goal of education. We're grateful to David Rubenstein for making Duke a leader in this field."