U of Chicago Plans Creation of $50M Entrepreneurship and Innovation Center - NBC Chicago

U of Chicago Plans Creation of $50M Entrepreneurship and Innovation Center

The new center will start operating in July

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    U of Chicago Plans Creation of $50M Entrepreneurship and Innovation Center
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    A Pedestrian walks through the Main Quadrangles (Quad) on the Hyde Park Campus of the University of Chicago on November 30, 2015 in Chicago, Illinois. (Photo by Scott Olson/Getty Images)

    The University of Chicago plans to create a $50 million entrepreneurship and innovation center. 

    The school announced late Monday that the center will be funded with a commitment of $50 million from University Trustee Michael Polsky, including a new $35 million gift. Polsky is the founder and CEO of Invenergy, which operates power generation and energy storage facilities in North American and Europe. 

    The school says the newly organized Polsky Center for Entrepreneurship and Innovation will combine activities of UChicago Tech, which helps launch starts-ups, and the Chicago Innovation Exchange.The exchange opened in October 2014 and has 2,200 members. It is incubating 20 companies and providing capital to start-ups via the $20 million UChicago Innovation Fund. 

    The new center will start operating in July.

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