Georgetown University Receives $1.5 Million for Venture Lab

Georgetown University Receives $1.5 Million for Venture Lab

has announced a $1.5 million gift from alumnus Ted Leonsis (C'77) and his family in support of a new co-working arrangement for student and alumni entrepreneurs.

Launched by the at the , in partnership with WeWork White House, a co-location space one block from the White House, the  will provide a dedicated pool of up to ninety desks for students and alumni at subsidized rates. In partnership with the , the lab also will offer a range of programming, including alumni and faculty mentoring for students, internships, entrepreneur-in-residence office hours, and social and professional events designed to bring together students and alumni entrepreneurs with the broader D.C. business community.

"At Georgetown McDonough, we offer students many 'only-in-D.C.' experiences that capture life in a global capital city," said Paul Almeida, dean and William R. Berkley Chair of the  school. "The Georgetown Venture Lab strengthens the university's reputation as another resource where ambitious students and alumni can turn their passions into entrepreneurial ventures. We are grateful to the Leonsis family for their continued support of entrepreneurship at Georgetown and throughout our community."

"The Georgetown Venture Lab will offer valuable support for aspiring entrepreneurs, while at the same time further strengthening Georgetown's alumni network and Georgetown's connections to the local business community," said Leonsis, founder of Monumental Sports & Entertainment, who made the gift with his wife, Lynn, his son, Zach (MBA'15), and his daughter, Elle (C'14). "We would like to see these companies led by Georgetown alumni grow and become leading contributors to the local economy."

(Photo credit: WeWork White House)

"." Georgetown University Press Release 03/14/2018.