NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Monday, May 23, 2016

University of Chicago Trustee and Chicago Booth alumnus John Edwardson has given an additional $5 million gift to his alma mater to support and expand its program for social entrepreneurs, which is part of Chicago Booth’s Social Enterprise Initiative. The newly established program will be called the Edwardson Social Entrepreneurship Program.

Since its inception in 2012, the initiative has served as a research and learning center for students, alumni and faculty who aspire to solve social, environmental and cultural problems. Its programming equips students and alumni with the knowledge, network and experience needed to make an impact on their chosen issues.

Edwardson’s initial $5 million gift in 2013 funded the initiative’s signature component—an annual social entrepreneurship competition called the John Edwardson, ’72, Social New Venture Challenge. The challenge builds upon the foundation that UChicago students receive by offering tailored resources and programs designed to address the areas in which social enterprises diverge from traditional startups; it helps students explore what form their social venture should take, how to fund their enterprise, and how to identify and cultivate a network of sector-specific advisers.

“I am delighted to support and expand the reach of Booth’s Social Enterprise Initiative, particularly with the proven success of the Social New Venture Challenge,” Edwardson said. “It’s clear that many Booth students and alumni, as well as other UChicago students from a variety of disciplines, are committed to making a meaningful impact on social issues, and this gift will bolster that commitment for current and future students.”