Details of University involvement in the institute's funding have not been released, although Harvard hopes to have the institute up and running by fall. But given the University's $14.4 billion endowment and legendary fundraising clout, Harvard's new institute will likely have the potential to raise a far larger endowment and to have a far broader scope.
Staying the Same
Apple estimates that only 10 to 15 percent of students participating in CEEM want to go out and start their own business immediately. He says many decide to get five to 10 years of work under their belts before going out on their own instead.
And Schwartz says the program is also a success when it teaches students that entrepreneurship is not the right choice for them.
But Schwartz says the program has begun to fulfill UCSB's hopes--much like Harvard's--in boosting student entrepreneurialism.
In the year and a half that CEEM has been in existence, a significant number of new companies have been started by students, alumni and faculty of UCSB, he says.