Foundation pledges $60 million to University of Michigan

ANN ARBOR, MI (AP) – A foundation has given $60 million to the University of Michigan for students and alumni entrepreneurship programs.

The pledge from the Zell Family Foundation was made to the Samuel Zell and Robert H. Lurie Institute for Entrepreneurial Studies at the Stephen M. Ross School of Business.

It includes $10 million for a new fund that will invest in new student business ventures.

Sam Zell said in a statement that the “goal is to accelerate the learning curve and the opportunities for budding entrepreneurs, as well as to build a powerful alumni network.”

The Institute for Entrepreneurial Studies was established with a $10 million gift from the Zell and Lurie family foundations.

The Zell Family Foundation has provided more than $150 million in financial support to the university.

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