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During in this such a detailed criteria with regards to first business school venture philanthropy fund to support social entrepreneurship.
FOR IMMEDIATE RELEASE Contact: Jessica Neville, 212-998-0666
NYU STERN LAUNCHES FIRST BUSINESS SCHOOL
VENTURE PHILANTHROPY FUND TO SUPPORT
SOCIAL ENTREPRENEURSHIP
--Alumnus Stewart Satter Funds School’s New Program--
NEW YORK, NY – April 13, 2004 – Today, New York University Stern School of
Business announced the launch of The Stewart Satter Program in Social
Entrepreneurship. While several business schools, including NYU Stern, currently offer
courses in social entrepreneurship, Stern’s program is the first to initiate a philanthropy
fund, The Stewart Satter Social Entrepreneurship Fund, to support educational initiatives
and foster social venture creation within the School’s community. The new Satter
Program, designed to promote social entrepreneurship at Stern, was made possible as a
result of the generous support of NYU Stern alumnus Stewart Satter, MBA ’82 and CEO
of Consumer Testing Laboratories, Inc., who has donated $300,000 in seed money for the
launch. NYU Stern’s Berkley Center for Entrepreneurial Studies will manage The Satter
Program.
“Stewart’s active partnership with the Stern School and significant intellectual and
funding contributions have put us in a leadership position to help shape the development
of the dynamic field of social entrepreneurship in a meaningful way,” said Thomas F.
Cooley, dean, NYU Stern. “Through this new effort, we will also be able to strengthen
the support we provide our students and alumni, many of whom are interested in pursuing
socially-focused careers.”
Social Entrepreneurship: Pursuing the Double Bottom Line
Social entrepreneurship, a young, yet growing, field, leverages business and
entrepreneurial skills to create innovative approaches to solving social problems. These
non-profit, as well as for-profit ventures, pursue the “double bottom line” of financial
self-sustainability or profitability and social impact.
The Stewart Satter Program in Social Entrepreneurship
NYU Stern is taking its commitment to social entrepreneurship to the next level with The
Satter Program, a multi-faceted, comprehensive initiative. Its Satter Social
Entrepreneurship Fund, modeled on a real-world foundation or venture philanthropy fund
and a first among business schools, will operate like a competitive market run by highly
engaged grant makers. Project proposals will compete for grant funds based on their
measurable return on investment, both financial and social. The fund will support
curricular developments and research, as well as provide start-up assistance to promising
Stern-affiliated social entrepreneurs, including students, faculty, alumni and the
administration. An Advisory Board comprising practitioners, faculty and administrators
will award grants annually to support new projects. The first set of grants will be
awarded and announced in Fall 2004.
“Social entrepreneurship offers society the perfect marriage between tough-minded,
bottom-line realities and the passion that goes beyond creating an economic profit,” said
Stewart Satter. “This is a marriage that excites me and has inspired me to support this
new program at Stern.”
The Satter Program will provide thought-leadership in the field and encourage MBA
students to pursue social sector careers. Satter Fund grants can support projects such as
the following:
• Financial support and managerial assistance for student and alumni new social
venture creations
• Assistance to allow students to practice and hone social entrepreneurship skills,
such as loan forgiveness programs and consulting opportunities
• Research and knowledge dissemination, including forums that foster the
continued dialogue among researchers and practitioners
• Curricular expansions to support the teaching of social entrepreneurship skills
Building from an Established Base
Prior to the launch of this new program, NYU Stern was already offering courses in
social entrepreneurship, including one taught by practitioner Bill Shore, founder and
executive director of Share our Strength, one of the nation’s leading anti-hunger and anti-
poverty organizations. This spring, Stern’s Berkley Center added a Social
Entrepreneurship track to its annual Business Plan Competition whose finalists will
compete for a $50,000 prize on April 30, 2004. The Center also hosted a social
entrepreneurship conference this month, “Overcoming Challenges to Early Stage
Development,” that featured keynote J ulius Walls of Greyston Bakery. The event, which
was oversubscribed, drew students, alumni and social entrepreneurs.
The School has also created an innovative co-curricular program, Stern Consulting Corps
(SCC), which provides a unique opportunity for students to express their social
consciousness. Launched in summer 2002, SCC serves as Stern’s umbrella partnership
with numerous prominent non-profit organizations and top-tier consulting firms. This
program enables Stern MBA students to put into practice the skills and knowledge they
gain in the classroom to benefit non-profits and local New York businesses.
About NYU Stern’s Berkley Center for Entrepreneurial Studies
The Berkley Center for Entrepreneurial Studies, established at NYU Stern more than 20
years ago, is dedicated to conducting and supporting entrepreneurship research and
education at NYU Stern. The Center underwrites research grants for faculty members
and doctoral students, conducts conferences for scholars and practitioners, engages in
specialized executive education, and produces a variety of publications that contribute to
understanding the entrepreneurial process, and the public policy and educational issues
associated with encouraging new enterprise development. The Center also offers co-
curricular programs designed to complement course-related learning and to encourage
Stern students to create economic enterprise through new ventures, either in start-up or
established businesses.
New York University Stern School of Business, located in the heart of Greenwich Village, is one of the
nation’s premier management education schools and research centers. NYU Stern offers a broad portfolio
of academic programs at the graduate and undergraduate levels, all of them informed and enriched by the
dynamism, energy and deep resources of the world’s business capital.
doc_922552348.pdf
During in this such a detailed criteria with regards to first business school venture philanthropy fund to support social entrepreneurship.
FOR IMMEDIATE RELEASE Contact: Jessica Neville, 212-998-0666
NYU STERN LAUNCHES FIRST BUSINESS SCHOOL
VENTURE PHILANTHROPY FUND TO SUPPORT
SOCIAL ENTREPRENEURSHIP
--Alumnus Stewart Satter Funds School’s New Program--
NEW YORK, NY – April 13, 2004 – Today, New York University Stern School of
Business announced the launch of The Stewart Satter Program in Social
Entrepreneurship. While several business schools, including NYU Stern, currently offer
courses in social entrepreneurship, Stern’s program is the first to initiate a philanthropy
fund, The Stewart Satter Social Entrepreneurship Fund, to support educational initiatives
and foster social venture creation within the School’s community. The new Satter
Program, designed to promote social entrepreneurship at Stern, was made possible as a
result of the generous support of NYU Stern alumnus Stewart Satter, MBA ’82 and CEO
of Consumer Testing Laboratories, Inc., who has donated $300,000 in seed money for the
launch. NYU Stern’s Berkley Center for Entrepreneurial Studies will manage The Satter
Program.
“Stewart’s active partnership with the Stern School and significant intellectual and
funding contributions have put us in a leadership position to help shape the development
of the dynamic field of social entrepreneurship in a meaningful way,” said Thomas F.
Cooley, dean, NYU Stern. “Through this new effort, we will also be able to strengthen
the support we provide our students and alumni, many of whom are interested in pursuing
socially-focused careers.”
Social Entrepreneurship: Pursuing the Double Bottom Line
Social entrepreneurship, a young, yet growing, field, leverages business and
entrepreneurial skills to create innovative approaches to solving social problems. These
non-profit, as well as for-profit ventures, pursue the “double bottom line” of financial
self-sustainability or profitability and social impact.
The Stewart Satter Program in Social Entrepreneurship
NYU Stern is taking its commitment to social entrepreneurship to the next level with The
Satter Program, a multi-faceted, comprehensive initiative. Its Satter Social
Entrepreneurship Fund, modeled on a real-world foundation or venture philanthropy fund
and a first among business schools, will operate like a competitive market run by highly
engaged grant makers. Project proposals will compete for grant funds based on their
measurable return on investment, both financial and social. The fund will support
curricular developments and research, as well as provide start-up assistance to promising
Stern-affiliated social entrepreneurs, including students, faculty, alumni and the
administration. An Advisory Board comprising practitioners, faculty and administrators
will award grants annually to support new projects. The first set of grants will be
awarded and announced in Fall 2004.
“Social entrepreneurship offers society the perfect marriage between tough-minded,
bottom-line realities and the passion that goes beyond creating an economic profit,” said
Stewart Satter. “This is a marriage that excites me and has inspired me to support this
new program at Stern.”
The Satter Program will provide thought-leadership in the field and encourage MBA
students to pursue social sector careers. Satter Fund grants can support projects such as
the following:
• Financial support and managerial assistance for student and alumni new social
venture creations
• Assistance to allow students to practice and hone social entrepreneurship skills,
such as loan forgiveness programs and consulting opportunities
• Research and knowledge dissemination, including forums that foster the
continued dialogue among researchers and practitioners
• Curricular expansions to support the teaching of social entrepreneurship skills
Building from an Established Base
Prior to the launch of this new program, NYU Stern was already offering courses in
social entrepreneurship, including one taught by practitioner Bill Shore, founder and
executive director of Share our Strength, one of the nation’s leading anti-hunger and anti-
poverty organizations. This spring, Stern’s Berkley Center added a Social
Entrepreneurship track to its annual Business Plan Competition whose finalists will
compete for a $50,000 prize on April 30, 2004. The Center also hosted a social
entrepreneurship conference this month, “Overcoming Challenges to Early Stage
Development,” that featured keynote J ulius Walls of Greyston Bakery. The event, which
was oversubscribed, drew students, alumni and social entrepreneurs.
The School has also created an innovative co-curricular program, Stern Consulting Corps
(SCC), which provides a unique opportunity for students to express their social
consciousness. Launched in summer 2002, SCC serves as Stern’s umbrella partnership
with numerous prominent non-profit organizations and top-tier consulting firms. This
program enables Stern MBA students to put into practice the skills and knowledge they
gain in the classroom to benefit non-profits and local New York businesses.
About NYU Stern’s Berkley Center for Entrepreneurial Studies
The Berkley Center for Entrepreneurial Studies, established at NYU Stern more than 20
years ago, is dedicated to conducting and supporting entrepreneurship research and
education at NYU Stern. The Center underwrites research grants for faculty members
and doctoral students, conducts conferences for scholars and practitioners, engages in
specialized executive education, and produces a variety of publications that contribute to
understanding the entrepreneurial process, and the public policy and educational issues
associated with encouraging new enterprise development. The Center also offers co-
curricular programs designed to complement course-related learning and to encourage
Stern students to create economic enterprise through new ventures, either in start-up or
established businesses.
New York University Stern School of Business, located in the heart of Greenwich Village, is one of the
nation’s premier management education schools and research centers. NYU Stern offers a broad portfolio
of academic programs at the graduate and undergraduate levels, all of them informed and enriched by the
dynamism, energy and deep resources of the world’s business capital.
doc_922552348.pdf