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May 24, 2016

$35 Million Gift Boosts U. of Chicago Innovation Programs

Clean-energy executive Michael Polsky has donated $35 million to the University of Chicago to expand a center he helped establish to aid young entrepreneurs taking new ideas to market, reports the Chicago Tribune. The Polsky Center for Entrepreneurship and Innovation will become a free-standing entity, independent of the university's Booth School of Business, from which Mr. Polsky graduated in 1987.

The campus's other business-innovation programs will be folded into the center, which was launched with a 2002 gift from Mr. Polsky. The founder and chief executive of Invenergy also donated to the center in 2012 and has now given a total of $50 million to the university, where he also serves as a trustee.