The hallways of the Stephen M. Ross School of Business at the University of Michigan might be empty at the moment, as students are busy with their internships and vacations, but philanthropists have not forgotten about the institution over the summer. The school announced recently that its Samuel Zell and Robert H. Lurie Institute for Entrepreneurial Studies has received a $60M donation from the Zell Family Foundation. “This gift generates tremendous opportunities for our students and is significant news in the world of entrepreneurial studies,” Ross Dean Alison Davis-Blake commented in the announcement.
The institute was established in 1999 following a $10M gift from the Zell Family Foundation and The Ann and Robert H. Lurie Family Foundation, and it was one of the first programs in the country dedicated solely to entrepreneurial studies. The new $60M donation will be allotted to entrepreneurial projects, with $10M intended specifically for investments in “new student business ventures,” according to the Ross announcement. The institute’s namesakes, business magnates Sam Zell and the late Robert H. Lurie, both received graduate degrees from the University of Michigan.