A donor’s $10 million gift will support the construction of a new entrepreneurship hub at the former home of McLain’s Market, the University of Kansas announced Thursday.
KU Endowment purchased the site, 1420 Crescent Road, in March 2024 using funds from a $50 million gift from an anonymous donor.
According to partial meeting minutes obtained through a request under the Kansas Open Records Act, plans and ongoing studies for the site were in place since its purchase; however, a formal announcement was not made until Thursday.
With a supplemental $10 million gift from the same anonymous donor, the university announced the project’s construction has been “ensured.”
KU Chancellor Douglas Girod said the gift will bolster all students, not just those attending the business school.
“One of the ways KU drives economic growth in Kansas is by ensuring our graduates have the skills and the entrepreneurial ability to succeed in their fields,” Girod said in the release. “This gift creates a greater KU for all students, with the hub expanding entrepreneurship’s reach and impact.”
The hub will house multiple KU entrepreneurship cocurricular programs, including the Catalyst Program, Jayhawk Consulting and RedTire, according to the release. Each program “allow(s) students to gain hands-on experience,” according to the business school’s Entrepreneurship page.
The donor’s total gift of $60 million marks the largest gift in KU School of Business history. The gift will also support, in addition to the hub, “the Business Professional Development Program, study abroad programming and academic enrichment.” according to the release.
“This investment will elevate how the School of Business equips all KU students with the tools and experience to drive innovation,” said Jide Wintoki, incoming KU School of Business dean. “Having this dedicated space marks a significant step forward in our commitment to hands-on, interdisciplinary entrepreneurial education at KU.”
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Jack Ritter (he/him), a contributor to The Lawrence Times since June 2022, is a student at the University of Kansas studying journalism. He is also a graduate of Lawrence High School, where he was the editor-in-chief of The Budget Online.
Read more of his work for the Times here. You can view more of his work for The Budget Online here.
