The University of Pennsylvania has announced a $10 million gift from Wharton School alumnus Marc Wolpow (BS ’80) and his wife, Robin, through their Arbour Way Foundation to support healthcare innovation and entrepreneurship programs.

The Wolpow Fund for Healthcare Entrepreneurship at Venture Lab, the center for student entrepreneurship at Wharton, will provide resources for students and faculty across the university to develop, test, and scale innovative ideas with the potential for long-lasting impact in health care. The gift will support development of a course focused on healthcare entrepreneurship, workshops, and internships and fund case studies, research, and consulting projects. In addition, the fund will provide cash awards and prizes supporting pre-seed startup development and discovery costs and finance an incubator and accelerator program to support student ventures in the healthcare space.

“Student entrepreneurs at Wharton and Penn possess unparalleled drive, enthusiasm, and creativity,” said Venture Lab faculty director Lori Rosenkopf. “The healthcare space is one that is ripe for disruption, and I know we will see impactful businesses, products, and ideas launched in the coming years.”

“It’s been my experience, both in a corporate setting and in working with nonprofits, that funding on its own rarely has its anticipated impact,” said Wolpow, co-founder of Audax Group, a private equity firm, and a former managing director at Bain Capital. “Robin and I want to provide an enduring platform that catalyzes collaboration and allows budding entrepreneurs and students to push the boundaries of what is possible and bring their most audacious ideas to life.”

(Photo credit: Getty Images/Sean Anthony Eddy)