The E. J. Ourso College of Business announced a major grant on Nov. 9. The Charles Koch Foundation has awarded a $5.6 million grant to the Stephenson Entrepreneurship Institute which expands entrepreneurship research, outreach and education.”
“We are thankful for the support of the Charles Koch Foundation,” said E. J. Ourso College of Business Dean Richard D. White, Jr. in a press release. “The impact of this gift and our entrepreneurship programs stretches across this campus and beyond.”
The grant will be paid over five years, and will fund an expansion of research by the Stephenson Entrepreneurship Institute. The funds will also be used to pay an institute director and additional faculty, according to the press release. Research support will primarily be aimed at producing applied academic research into barriers to innovation and entrepreneurship in Louisiana and the region. Students will be able to take advantage of new fellowships alongside new research and teaching opportunities. Opportunities for undergraduates will also be available.
“For three decades, LSU and the E. J. Ourso College have intentionally focused on growing entrepreneurship offerings,” said LSU President F. King Alexander in the press release. “Through this new grant from the Charles Koch Foundation, the University’s existing commitment and the generosity of the Stephenson family, funding for entrepreneurship programs at LSU exceeds $12 million. This demonstrates the commitment of both the University and our supporters toward leveraging the leadership of our students, faculty and alumni, who offer creative and innovative solutions that catalyze economic development and shape the economy of tomorrow.”
The grant is the latest influx of support for the business school. In 2007, University alumni and entrepreneurs Emmet and Toni Stephenson donated $4 million to the Entrepreneurship Institute, which was renamed the Stephenson Entrepreneurship Institute, according to the press release. The Stephensons also donated $6 million to the E. J. Ourso College of Business in 2016 to be spaced out over 10 years. This donation led to the Department of Information Systems and Decision Sciences being named after the Stephensons. It is now the Stephenson Department of Entrepreneurship and Information Systems.
“This gift will enable us to continue the groundwork that was laid by the generosity and leadership of Emmet and Toni Stephenson,” White said in the press release. “We are promoting new ways of thinking that will benefit society. The work made possible through this grant will positively impact students, the regional economy, and businesses in Louisiana and beyond.”
