A $2.5 million gift from the Draper Foundation is helping The University of Texas at Dallas expand its entrepreneurial ecosystem — from early-stage student ventures to high-profile startup competitions designed to launch companies into the marketplace.
Founded by Silicon Valley venture capitalist Tim Draper, the Draper Foundation is committed to strengthening entrepreneurship programming at UT Dallas through the University’s Institute for Innovation and Entrepreneurship and the Naveen Jindal School of Management.
Tim Draper’s investment philosophy is centered on identifying transformative founders and disruptive ideas before they reach the mainstream. At UT Dallas, that philosophy will help create a pipeline that supports student innovators from the earliest stages of idea development through venture acceleration, mentorship, funding and investor-ready pitch opportunities.
The foundation‘s five-year pledge already has transformed entrepreneurship initiatives across campus. In April, the University’s annual Big Idea Competition was renamed the Draper Pitch Competition, including an expanded $330,000 in award funding. The gift also established the Startup Founders Awards, an initiative supporting early-stage student entrepreneurs as they develop minimum viable products and prepare to launch their ventures.
“This partnership represents a major step forward for entrepreneurship at UT Dallas,” said UT Dallas President Prabhas V. Moghe, the Eugene McDermott Distinguished University Chair of Leadership, at the Draper Pitch Competition. “The dream is to take this kind of a pitch competition and multiply it by 10.”
Chris Bhatti MA’06, associate vice president for development and alumni relations, said the gift reflects a growing recognition of the University as a place where breakthrough companies can emerge.
“Major venture capital firms regularly look to places like Stanford [University] and Silicon Valley for the next generation of founders,” Bhatti said. “Tim Draper’s investment signals that UT Dallas has the talent, ambition and ideas to belong in those conversations. We want UT Dallas to become a destination for entrepreneurship and venture creation.”
Source: Draper’s $2.5 Million Gift Fuels Entrepreneurial Ecosystem – News Center | The University of Texas at Dallas
