UofU Gets $12M For Entrepreneurship Institute

The University of Utah has scored a $12M donation to help bolster its efforts to build a new entrepreneurship center on campus, the Lassonde Entrepreneur Institute, the school said today. According to the University, the donation came from Pierre Lassonde, and brings his total contribution for the new center to $25M. The University said that the new institute will include 148,000 square feet, and include 412 residences and a 20,000 square foot startup "garage" for students to prototype products and launch companies. The new center is expected to cost the university a total of $45M to build, and will open in fall of 2016, according to the school. The new Lassonde Entrepreneur Institute will be part of the U's David Eccles School of Business. Lassonde made his fortune in mining, having founded Franco-Nevada Mining Corporation.