URBANA, Ill. (WAND) — The University of Illinois Urbana-Champaign announced a $20 million commitment from two alumni to rename the Technology Entrepreneur Center at the Grainger College of Engineering.
The university announced the commitment from alumni Richard and Gayle Landuyt to expand entrepreneurship education and strengthen the university's connection to Chicago's innovation economy.
Pending board of trustees approval, the Technology Entrepreneur Center will be renamed the Landuyt Center for Entrepreneurship.
"The Landuyts' support represents their steadfast belief and trust in our students, staff, faculty, and alumni to inspire innovation that fundamentally changes the world, and changes it for the better," said Chancellor Charles L. Isbell Jr.
Richard Landuyt is a Chicago-area entrepreneur and investor who built and sold three high-technology companies over three decades and is a founding member of the Illini Angels Network, and investing network that supports early-stage companies.
Gayle Landuyt worked at Motorola for 25 years, holding progressive leadership positions in supply chain management, and later served on the faculty at DePaul University.
"Our Illinois educations have been fundamental to our careers and the successes we have enjoyed," said Gayle. "We are committed to giving back to our alma mater and ensuring those opportunities exist and expand for future generations."
According to the university, the Landuyt Center for Entrepreneurship is a nationally recognized program offering more than 30 courses, venture competitions and experiential learning opportunities open to students across all majors.
The university said the investment will support the center establishing long-term leadership, expanding student and faculty engagement in entrepreneurship, and accelerating startup creation and the commercialization of university innovations.
"The job market has vastly changed for young professionals. Many students no longer take the traditional route from degree to job," said Richard. "They must be creative about their future and understand the value of collaboration. An entrepreneurial mindset, leadership skills and expertise in business as well as their chosen field set them up for success. We're excited to be part of their growth and see the effect of their solutions on the world."
Another goal of the $20 million commitment is the expansion of the center into Chicago through a permanent presence at the Discovery Partners Institute.
Together with its Urbana-Champaign home, the center will form a stronger innovation corridor connecting world-class engineering, business, and research talent with Chciago's startup, corporate, and venture capital ecosystem, according to the university.
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