WFU Secures $30M Boost to Ignite the Future of Entrepreneurship Education!

In a game-changing move for entrepreneurial education, Wake Forest University has secured a groundbreaking $30 million anonymous donation. This transformative gift is set to elevate the University’s Center for Entrepreneurship to new heights, opening doors for undergraduates to immerse themselves in dynamic entrepreneurial opportunities. This historic funding will bolster faculty expertise, catalyze innovative course development, and pave the way for cutting-edge facilities tailored to the program’s expanding needs.

“This extraordinary support empowers us to push the boundaries of our Center for Entrepreneurship, ensuring our students have access to unparalleled programs and resources,” expressed Wake Forest President Susan R. Wente. “The impact of this gift—and the inspiration it ignites—will be pivotal in crafting the future accomplishments of our students, faculty, staff, and alumni.”

“We are profoundly grateful for this gift and the ways in which it will enhance our capacity to educate entrepreneurial leaders of the future.”

President Susan R. Wente

Through the Center for Entrepreneurship, students will gain essential skills to navigate the entrepreneurial landscape, exploring the legal and financial intricacies of launching new ventures while collaborating with industry veterans to turn groundbreaking ideas into thriving businesses.

The appeal of Wake Forest’s entrepreneurship program has soared recently, with over 400 students enrolled in entrepreneurship courses this fall alone. Startups spearheaded by Wake Forest students have made waves on platforms like “Shark Tank” and graced “Oprah’s Favorite Things” list, showcasing the talent fostered within this vibrant community.

Innovative teaching methods, such as the award-winning IDEATE program developed by professors at Wake Forest, empower students to unlock their entrepreneurial potential and are quickly becoming a blueprint for other institutions nationwide. This generous gift will allow the University to onboard four new full-time professors in the College of Arts and Sciences over the next two years, enhancing the breadth of entrepreneurship offerings available to students across all disciplines. The initial plan is to bring on two professors to begin teaching in the fall of 2025, followed by two more in the fall of 2026.

As stated by the donor, the motivation behind this substantial contribution stems from the question: “What vital ideas are we missing by not providing more opportunities for students to engage in entrepreneurship classes?”

This expansion will not only solidify Wake Forest’s Center as a premier institution for entrepreneurship but will also attract top-tier talent and shape a first-class program designed to create the entrepreneurial leaders of tomorrow.

With this support, the program aims to nearly double its course offerings to accommodate the growing interest while simultaneously reducing class sizes. Plans are in motion to introduce new courses that broaden the spectrum of entrepreneurship topics. A larger faculty pool and smaller class sizes will foster deeper mentorship opportunities for students at every level of the program.

“This investment will supercharge our capacity to nurture promising entrepreneurial ventures through our nationally recognized system and amplify the quality and quantity of student startups,” stated Dan Cohen, the John C. Whitaker Jr. Executive Director of the Center for Entrepreneurship and Professor of Practice. “This generous contribution will propel the mission of our entrepreneurship program to cultivate innovative thinking and develop leaders capable of generating significant economic and societal value.”

Open to undergraduates from any major, entrepreneurship courses blend hands-on experience with cutting-edge research. The program’s core curriculum is anchored in four critical milestones essential to fostering an entrepreneurial mindset:

• Learning from successful entrepreneurs about launching a business from the ground up;
• Mastering proven strategies for generating innovative ideas;
• Identifying which ideas have the highest potential for success;
• Scaling a startup into a lucrative business venture.

“Wake Forest is unwavering in its commitment to educate and inspire the next generation of entrepreneurs through transformative teaching and experiential learning opportunities,” emphasized Dean of the College and Graduate School of Arts & Sciences, Jackie Krasas. “Our small class sizes and meaningful faculty-student engagement are at the heart of a Wake Forest education. This gift aligns seamlessly with our Strategic Framework, particularly enhancing our community of learning and increasing our ability to prepare and support the next wave of innovative thinkers.”

This generous donation will also enable the University to expand classroom, workshop, and collaborative learning spaces for signature initiatives, such as the Deacon Springboard early-stage accelerator program and the Startup Lab, designed to guide students through the next phases of startup development.

Wake Forest’s Center for Entrepreneurship has garnered five national awards from esteemed organizations such as the United States Association of Small Business and Entrepreneurship (USASBE) and the Global Consortium of Entrepreneurship Centers (GCEC), underscoring its commitment to excellence in entrepreneurial education.