Raising capital is always an important startup issue for many student entrepreneurs. I just came across this recent press release that could be of interest to student entrepreneurs looking to finance their businesses. If anyone ends up applying, let us know and we can write a follow up entry!
Institute for Entrepreneurship Engages Investment Banker to Raise $250 Million in Grants for Student-Initiated Businesses
PHOENIX — (BUSINESS WIRE) – The Institute for Entrepreneurship, an organization that facilitates the development of successful entrepreneurs through education, has engaged an investment banker to raise $250 million in capital, which will be used to fund small businesses created by college students.
Access to the University Entrepreneur Fund, is being facilitated through a private placement memorandum. Wayne Taylor, chief executive of Dream Dragon Productions, will assist the IfE.
"There has never been a fund, especially of this magnitude, which is geared toward the young entrepreneur," said Peter J. Burns, III, founder of the IfE. "With a pot full of significant cash, administered by seasoned entrepreneurs and investors, we have an opportunity to literally change the face of America's education and our economy, at the same time."
The announcement is especially significant for colleges and universities, since the students will be selected for funding only from schools that offer a free-standing College of Entrepreneurship program.
One school, thus far, has licensed a College of Entrepreneurship from the IfE — Grand Canyon University in Phoenix, Arizona. Get more information about GCU here.
"GCU is the first school in the country that can reap the benefits of this funding windfall," said Burns. "As a participating school, it will receive 25 percent of those student businesses that start at either the undergraduate Bachelors of Entrepreneurship level or the soon-to-be launched certificate-granting Executive Education in Entrepreneurship."
About the Institute for Entrepreneurship
The Institute for Entrepreneurship helps bridge the gap between a great business idea and successfully operating in the business world. The founders of the Institute are revolutionizing entrepreneurial education, wedded to the belief that every person on the planet is a budding entrepreneur. The Institute also believes that it is up to existing entrepreneurs to facilitate the transformation of the next generation of emerging entrepreneurs. While there are some schools that purport to teach students some of the skills needed to start a business, little or no help is offered to assist the student in actually starting a real business upon graduation. Most business schools instruct students in theory and prepare graduates for on-the-job-training at existing companies. Our founders knew that what is needed is a program that prepares students to be entrepreneurs and start their own businesses upon graduation.