$1 million gifted by Auburn Alumni will be a game changer for students looking to start their own businesses.
Auburn’s business school believes entrepreneurship is the key to the future for U.S. businesses.
So, ensuring students have the skills and resources needed to create startups means they’ll be ready to ride this wave of economic growth.
“Auburn University is focused on entrepreneurship and innovation and we are on the move. We’ve done a lot of things in the last several years to put Auburn and Auburn entrepreneurship on the national map,” Lou Bifano, Director of Entrepreneurship Strategy.
A $2 million injection of resources is a real accelerator for this effort.
The million dollar gift from the LaRussa catalyst fund then matched by Raymond Harbert will provide operational support for the Tiger Cage accelerator and incubator, expand summer programs, and boost student businesses through the start up process.
“What we are trying to accomplish is simple. We want our students who start a company feel the ecosystem and Auburn area and this region is where they want to start and grow their business,” said Bifano.
They also hope to attract high school students to dream big and decide to grow their idea at Auburn University.
“While we want them to go off and do great things, we want some of them to stay here, and if we can help in that process and be supportive, we think it will drive job creation and help drive economic development in the area,” said LaKami Baker, Managing Director, Lowder Center for Family Business & Entrepreneurship.
A strategy aimed at cultivating a culture where students, startups, and the community work in tandem to innovate.
Students who win college of business are awarded money to start up their businesses.
The recent donations will provide for extra support beyond those college competitions.