From the Boston Globe…
With no grades or majors, Hampshire College, the Amherst institution with an alternative approach to higher education, seems an unlikely breeding ground for aspiring capitalists.
But last week, the college announced the creation of a $1 million fund to encourage the “animal spirits” of would-be entrepreneurs among students and recent graduates. It’s called the Seed Fund for Entrepreneurship and Innovation, and the college will allocate $200,000 a year over five years to fund ideas that may lead to successful ventures. The fund will be managed by a small group of students, who will decide which business pitches deserve financing.
“There’s no reason not to embrace entrepreneurship,” said Zilong Wang, who graduated from Hampshire in May, after creating a task force to examine creating a center for entrepreneurship at the school of 1,400 undergraduates. “With these structured resources, students will be empowered to take action.”
The $1 million fund is the gift of a foundation run by Michael Vlock, a venture capitalist and 1975 graduate of Hampshire, and his wife, Karen Pritzker, a member of the Pritzker family of Chicago, one the nation’s wealthiest families.