The gift includes $7 million to create the Dave Cook Leadership Endowment — named for center director Dave Cook — in support of leadership roles at the center; $4 million to establish the Wolff Legacy Endowment, which will support efforts to increase the number of businesses created by students and alumni; and $2 million to create the Cyvia and Melvyn Wolff Endowed Chair(s)/Professorship(s) in Entrepreneurship, which will support new research, expanded student participation, and community outreach initiatives. The state of Texas is expected to provide a $2 million grant to match the foundation's gift.
Housed in the university's C.T. Bauer College of Business, the center was launched in the mid-1990s and has seen more than twelve hundred businesses started by its graduates over the past ten years. Named for the Wolff family in 2007, the center was ranked the top program for undergraduate entrepreneurship education last month by The Princeton Review.
"Our family is deeply committed to the ideals of entrepreneurship," said Cyvia Wolff. "Our business personified everything that it means to be an entrepreneur. The skills, the thinking, the mindset are fundamental to success for business leaders today and in the future. On behalf of my late husband, we are truly honored to ensure the entrepreneurial legacy not only endures but remains accessible for students. We are truly honored to be part of this program and university."