The gift provides entrepreneurship program students with unmatched learning experiences, including the opportunity to work with and learn from Patrick J. Murphy, Ph.D., and Innovation Depot.
Written by: Katie McDowell
Media contact: Yvonne Taunton
The gift provides entrepreneurship program students with unmatched learning experiences, including the opportunity to work with and learn from Patrick J. Murphy, Ph.D., and Innovation Depot.
(Photo: Steve Wood)A $ 1 million gift from the Medical Properties Trust and Melinda and Edward K. Aldag Jr. will support entrepreneurship students at the University of Alabama at the Collat School of Business in Birmingham. The endowment scholarship is pending approval by the Board of Trustees of the University of Alabama system.
The gift provides students of the Entrepreneurship program with unmatched learning experiences, including the opportunity to participate in Innovation Depot and speak directly with Patrick J. Murphy, Ph.D., Goodrich Endowed Chair in Innovation and Entrepreneurship at the Collat School of Business, to work together. Eventually, the foundation will provide substantial scholarships to 10 students majoring in entrepreneurship every academic year.
“The future of the world lies in the minds of young entrepreneurs with whom we have worked for several years at UAB,” said Edward K. Aldag Jr., chairman, president and CEO of Medical Properties Trust. “Melinda and I and the Medical Properties Trust team appreciate the opportunity to join this world class program chaired by Dr. Murphy and look forward to welcoming a new generation of corporate leaders here in Birmingham. ”
UAB’s entrepreneurship program has grown rapidly in recent years. Murphy joined the faculty of the Collat School of Business in August 2018, the same month the new facility opened with the Collat School of Business and the Bill L. Harbert Institute for Innovation and Entrepreneurship. The Entrepreneurship course officially started in autumn 2020.
“For many years, MPT’s generosity has made a huge impact here in Collat,” said Dean Eric P. Jack. “As the main donor for our award-winning new building, MPT also helped us close our philanthropic campaign. Now this new generous foundation, personally supported by Melinda and Ed Aldag, will provide the scholarships necessary to successfully build a strong entrepreneurship program that is strategically critical to the future of Birmingham. We are so grateful for this generous support that will stimulate innovation and improve the lives of so many in our community. “
The gift will provide business-minded students with much-needed financial assistance. Murphy says the school hears regularly from prospective students and their families who are interested in the program but are concerned about the cost.
“This gift will allow us to launch a very attractive entrepreneurship scholarship program,” said Murphy. “Overall, we will be able to dramatically improve our ability to offer rigorous entrepreneurship education available to any deserving student willing to work hard and work smart.”
The Entrepreneurship program is designed to prepare students with outreach educational experience for success in the entrepreneurial sector. Most of the jobs being created in Alabama today are in the entrepreneurial sector, and many aspiring college students are interested in entrepreneurial career paths. University entrepreneurship programs like the one at UAB are the best connections between these elements, Murphy says.
“At UAB, we are building the best university entrepreneurship program in the country by thinking globally and acting locally,” said Murphy. “World-class programs provide substantial scholarship resources to their students, and that is exactly what this Endowment Scholarship program will enable us to do. In the years to come, the impact on our business ecosystem in Birmingham will be enormous. “
The Aldags and MPT are longstanding supporters of UAB and the Collat School of Business. In addition to donating $ 4 million to the CSOB’s most recent philanthropic campaign, the Aldags and MPT also created an endowment scholarship in honor of retired professor and former dean Robert Holmes, Ph.D., and his wife, Diane Holmes. MPT has also supported the UAB Comprehensive Diabetes Center, the UAB Athletic Foundation, and the Neurology and Neurosurgery Departments of the UAB School of Medicine with previous donations.
“We are grateful to the Aldags and the MPT for their continued support of the UAB and the Collat School of Business,” said Tom Brannan, vice president for advancement. “This generous gift will ensure that UAB’s Entrepreneurship Program attracts talented students and will continue to grow entrepreneurship in Birmingham.”
For more information on supporting UAB’s entrepreneurship program, visit uab.edu/business or contact Brad Whisenant, Senior Director of Development, at 205-996-9453 or [email protected].
