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Rose-Hulman Institute of Technology in Terre Haute has received a $10 million gift it says will be used to establish a program focused on fostering entrepreneurship and business-focused opportunities for students.
The gift comes from alumnus Niles Noblitt, founder of Warsaw-based biomedical device company Biomet Inc. (now Zimmer Biomet) and a former chair of the Rose-Hulman board of trustees, and his wife, Nancy.
The institute said in a news release that the Noblitt Entrepreneurship Program will provide students with opportunities to work with faculty on “experiences related to entrepreneurship and the principles of the free market.”
Rose-Hulman President Robert Coons said the gift aligns perfectly with the school’s strategic plan announced a year ago, which prioritizes innovation, discovery, and entrepreneurship.
“We are deeply grateful for the Noblitts’ continued support and commitment to empowering our students with the knowledge and skills to drive meaningful change in the world,” Coons said in the release. “Their continued generosity and vision will ensure that future generations of students have access to resources, mentorship, and experiences that encourage entrepreneurial thinking and innovation.”
The institute said the program will be a natural extension of its Innovation Grove project, a more than $100 million hub near the Terre Haute campus that will focus on entrepreneurship, education and health care.
The program will create an endowed faculty position, the Noblitt Family Endowed Chair for the Advancement of Entrepreneurship. The person selected for the position will work to coordinate opportunities for students, faculty and alumni to connect and collaborate on a variety of experiences.
Niles Noblitt graduated with a bachelor’s degree in biological engineering from Rose-Hulman in 1973. He received an honorary doctorate in engineering in 1996. Noblitt and his wife previously gifted $10 million to launch the Noblitt Scholars Program at the institute.
“Attending Rose-Hulman was a life-changing experience for me, and it may not have been possible without the scholarships that supported my education,” Noblitt said in the release. “My time at Rose-Hulman instilled in me a problem-solving mindset that has been invaluable throughout my career. Nancy and I want to ensure that future generations of students have the same opportunities I did—to dream big, take risks, and turn ideas into reality.”
Rose-Hulman said additional details on the Noblitt Entrepreneurship Program will be shared in the coming months.
The Noblitts’ gift was announced just one week after Rose-Hulman received a combined $10 million in gifts from anonymous donors for the renovation of Speed Hall. In October, the institute landed a multimillion-dollar cash and estate gift from alumnus Pete Fowler and his wife, Joane, to support what is now known as the Fowler Academic Building.
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