University of Michigan's Institute of Entrepreneurial Studies Receives $4 Million Gift
The Samuel Zell and Robert H. Lurie Institute of Entrepreneurial Studies at the University of Michigan at Ann Arbor has received a $4 million gift from Robert Zell to expand its programs across campus, the Michigan Daily reports.
The gift form Zell will enable the institute to launch a twelve-week pilot program with the National Science Foundation's Wireless Integrated Microsystems (WIMS) Engineering Research Center, which focuses on microelectronics, wireless communications, and micro-electromechanical systems. According to institute spokeswoman Mary Nickson, the program will enable students to assess the potential of research that can be done at the university's college of engineering. At the end of the program, they will make recommendations to WIMS on which products are likely to be successful in the marketplace, based on an assessment of their commercial potential and the viability of creating a venture based on the product prototype.
The gift will also be used to expand the institute's Dare to Dream Grant Program, which distributes grants to students for product feasibility studies and gives them the opportunity to develop a business plan for the commercial launch of their products.
"It is an encouragement from him to us and approval of what we are doing," said Paul Kirch, the manager of students programs at the institute, which was established in 2000 by Zell and the widow of his long-time friend and partner Robert Lurie.
