The Charles Koch Foundation and the founder of Papa John's Pizza are partnering to fund Ball State University's new John H. Schnatter Institute for Entrepreneurship and Free Enterprise.
The university is receiving a $3.25 million grant to fund the new institute, The Star Press in Muncie reported. Schnatter, the CEO of the pizza chain, is a Ball State alumnus.
Acting Ball State President Terry King said university officials had the institute in mind and that they told Schnatter they could accelerate efforts with his support.
Professor Michael Goldsby, who will lead the institute, said the university has long had an entrepreneurship program. He said funding "helps us do a lot more of what we've always been doing."
The grant will go in part to help fund four tenure-track professorships, an operations manager and two graduate assistants.