In late July, Loyola received two gifts from alumni totaling more than $1.46 million. The gifts came from Nick Simon ’84, and the Frank family (George Frank ’50 and Tim Frank ’85) with the intention to further expand entrepreneurship at Loyola.
Simon has more than 30 years of operating and investment experience in the biopharmaceutical industry, including at Genentech, where he was vice president of business and corporate development. Simon is currently the managing director of Clarus, a healthcare investment firm he cofounded in 2005. Since the founding, the company has invested more than $2.5 billion in more than 50 life science companies.
“My Loyola education gave me the tools to pursue my career in biotech as well as instill in me the Jesuit principle to do well by doing good for others. Hopefully this can be a platform that future students can benefit from as well,” Simon said.
The funds will be put toward the creation of the Center for Innovation and Entrepreneurship (CIE), which will be headed by the newly appointed director, Wendy Bolger.
The CIE will feature four components to encourage innovation on campus in unique ways. First, the new Baltipreneur’s Institute will connect underserved entrepreneurs with Loyola faculty and alumni, and the introduction of an idea lab will be used to test and review innovations made on campus. The most comprehensive addition to campus is the university’s entrepreneurship program.
The introduction of the program provides a new interdisciplinary curriculum that includes both major and minor courses of study. The program will also feature the Loyola Innovation Accelerator, an initiative to invest in creative ideas, business practices and products that create capital and affect positive social change on and off Loyola’s campus.
“Already, many Loyola alumni are innovators and entrepreneurs, but the Center for Innovation and Entrepreneurship makes it possible for us to infuse that spirit more fully into the curriculum for students of all academic disciplines,” said Kathleen A. Getz, dean of the Sellinger School of Business and Management.
“Thanks to Loyola’s Jesuit liberal arts education, our students and alumni are well prepared to make a difference personally and professionally in this diverse and changing world, and the Center for Innovation and Entrepreneurship will only strengthen the Loyola education and experience.”
Terrence Sawyer, J.D., senior vice president, said the gifts have already begun to have an impact on the university.
“These generous gifts from the Frank and Simon families will have an extraordinary impact on our students. Loyola University Maryland is strengthened by our alumni and supporters who have a vision for our institution’s bright future and want to invest in making those aspirations reality,” Sawyer said.