University of Utah Secures $25 Million Investment to Ignite Innovation at New Entrepreneurship Institute

The University of Utah recently received a significant boost: a $25 million donation from Pierre Lassonde (MBA ’73) through his family foundation. This generous gift brings the total support for the Lassonde Entrepreneur Institute to $50 million since it started in 2001.

The institute, established in memory of Lassonde’s wife, Claudette MacKay-Lassonde (MA ’73), has grown from a small initiative into a vibrant hub for innovation. It now operates in the impressive 160,000-square-foot Lassonde Studios and serves over 6,000 students each year. The funding will allow for more in-depth courses aimed at nurturing an entrepreneurial mindset among students, enhancing both engagement and innovation in the local economy and beyond.

University president Taylor Randall expressed the impact of this support, stating, “This funding encourages hands-on learning. It gives every student the chance to dive into entrepreneurship—launching companies or products, while honing skills like creative problem-solving and resilience.”

Historically, the idea of entrepreneurship has evolved significantly. In the past, starting a business often required substantial capital and resources. Today, thanks to initiatives like this one, students can access invaluable tools and mentorship in a supportive community. Lassonde himself emphasized that this gift aims to inspire students to think big and get involved—whether by starting their own ventures or lending a hand to future innovators.

With the rapid rise of entrepreneurship in education, especially among younger generations, the future looks promising. According to a recent report by the Global Entrepreneurship Monitor, nearly 50% of millennials and Gen Z are considering starting their own businesses. This cultural shift highlights the growing importance of entrepreneurship education—a landscape in which institutions like the Lassonde Entrepreneur Institute play a crucial role.

As we look forward, initiatives like this at the University of Utah set the stage for a new wave of entrepreneurs eager to contribute to the economy and society as a whole.

(Photo credit: Lassonde Entrepreneur Institute at the University of Utah)

Source link