Furman University has renamed its innovation and entrepreneurship institute after an alumni family made a large donation.
The gift from Robert and Margaret Hill to the endowment led the university to rename it as the Hill Institute for Innovation and Entrepreneurship. The university did not publicly share the amount of the gift, but it previously set a goal of raising a $10 million initial endowment for the institute.
The institute was founded in August 2018 to develop students into entrepreneurs. Along with the city and other partners, the institute also launched Furman’s “GVL Starts Program.” The eight-week program helps the 25 aspiring entrepreneurs in each class to put ideas into action and concludes with a business pitch competition that awards a total of $15,000 in grants.