Education entrepreneurship students at Penn’s Graduate School of Education will gain permanent scholarship support after a $3 million donation last week. The gift establishes the Milken Endowed Scholarship for master’s students in the school’s Education Entrepreneurship program.
The donation came from Gregory Milken, a 1995 College graduate, and his wife, EJ Milken, according to a Sept. 24 announcement reported by The Daily Pennsylvanian. The couple said the aim is to draw in leaders interested in pursuing educational innovation.
A Program Built on Business and Education
Penn GSE launched the Education Entrepreneurship program in 2014. It was designed to tackle large challenges facing education by merging the field with lessons on business and entrepreneurship.
The master’s program is a one-year initiative. It aims to teach students how to develop and implement forward-thinking solutions, using education as the “catalyst for transformative impact.”
The curriculum is built for a diverse group of full-time working individuals. Students also get access to resources from GSE and the Wharton School. Programs that train founders early are drawing attention elsewhere too, as seen in student entrepreneurship competitions that encourage business creation.
“Penn GSE’s Education Entrepreneurship program is helping to develop leaders who will bring fresh ideas and commitment to education,” Gregory Milken wrote in the press release.
The education entrepreneurship curriculum is designed for working professionals rather than full-time students. Because it runs for one year, participants can build a venture plan while staying in their jobs, then test it through the Capstone with industry leaders.
Why the Milkens Made the Gift
The Milkens chair the Gregory and EJ Milken Foundation. The foundation works to expand opportunities in education and health through community initiatives.
Gregory Milken also serves as a member of the Penn GSE Board of Advisors. He said the scholarship was inspired by seeing “how an entrepreneurial mindset can unlock opportunities.”
He also pointed to “how expanding educational opportunity through innovation and leadership has been instrumental in changing outcomes.” Philanthropy aimed at founders has taken other forms as well, including grants for female founders backing women-led businesses.
What Students Do in the Program
During the program’s 12-month Capstone project, students work with industry leaders and entrepreneurs. Together they develop innovative opportunities tailored to each student’s own goals.
Alumni of the program have launched nearly 150 education enterprises. Graduates have gone on to lead in a variety of ways, from founding K-12 schools to directing education policy centers.
The program also offers a dual-degree option for students pursuing a Wharton MBA who want to “tailor their career goals.” That pairing links education reform with the kind of strategic leadership skills business schools teach.
“The Milken family has been a longstanding champion of Penn GSE’s leadership in education entrepreneurship, encouraging our faculty and students to pursue bold ideas that can transform education,” GSE Dean Katharine Strunk wrote in a press release.
Part of a Run of Large Gifts to Penn
The donation follows a series of large gifts to the University. Earlier this month, Penn Medicine received a $50M gift from Stanley Middleman, the CEO of a national mortgage lender. That gift established the Middleman Fund and renamed a research center.
Last week, the School of Arts and Sciences received a $22.5M gift from 2008 College graduate Gabriel Gilinski and his wife Stephanie Gilinski. It will establish new endowed professorships across multiple departments.
Strunk said the Milkens’ “extraordinary” donation will “open doors for talented students to explore innovative and entrepreneurial opportunities regardless of their financial circumstances.” The scholarship support is permanent, so it will serve future classes of master’s students in the program.
