Grantmakers in the NewsMay 1, 2004
Stern Business School at NYU Launches Social Entrepreneurship Venture Fund
The Stern School of Business at New York University has announced the launch of a new program designed to support educational initiatives, promote social entrepreneurship, and foster social venture creation within the business school community.
The Stewart Satter Program in Social Entrepreneurship and its associated venture fund, the Stewart Satter Social Entrepreneurship Fund, was made possible by $300,000 in seed funding donated by alumnus Stewart Satter, CEO of Consumer Testing Laboratories, Inc. The fund, which will be managed by the school's Berkley Center for Entrepreneurial Studies, will operate like a competitive market fund run by highly engaged grantmakers and will support course development and research, as well as provide start-up assistance to promising Stern-affiliated social entrepreneurs, including students, faculty, alumni, and administration. An advisory board of practitioners, faculty, and administrators will award grants annually to support new projects, with the first set of grants to be awarded in the fall.
"Social entrepreneurship offers society the perfect marriage between tough-minded, bottom-line realities and the passion that goes beyond creating an economic profit," said Stewart Satter. "This is a marriage that excites me and has inspired me to support this new program at Stern."
"NYU Stern Launches First Business School Venture Philanthropy Fund to Support Social Entrepreneurship." New York University Stern School of Business Press Release, 4/13/04.
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