LIU Post last Friday celebrated the completion of renovations that will allow for the opening of a new entrepreneurship incubator, which received $5 million in funding from billionaire T. Denny Sanford, the owner and founder of First Premier Bank.
“Helping LIU students discover and develop an entrepreneurial mindset is an investment that will have ripple effects throughout the Northeast and across the globe,” Sanford said.
The incubator, called the T. Denny Sanford Innovation and Entrepreneurship Institute, will occupy 3,935 square feet of space in Bush-Brown Hall, adjacent to the LIU Post campus, the university said in a statement.
Among those present at a ribbon cutting event last Friday were Brookville Mayor Dan Serota; LIU President Dr. Kimberly R. Cline; the chairman of the LIU Board of Trustees, Eric Krasnoff; and Sanford.
“LIU is shaping an entrepreneurial culture powered by innovation and ingenuity,” Cline said.
With the first phase of the project complete, the second phase will add an additional 12,000 square feet of incubator space, which will be attached to Bush-Brown Hall, the statement said.
LIU received $500,000 in funding from the New York State Regional Economic Development Council for the second phase, which is to commence construction in the fall, the statement added.
The incubator will be headed by Dr. Robert M. Valli, who has been the dean of the College of Management at LIU Post since 2015.
Valli formerly worked as the director of global consulting projects at Illinois Business Consulting and as director of advancing innovation at the Kauffman Foundation.
“The opportunity to partner with T. Denny Sanford is a demonstration of the formidable reach and relevance of this university, as well as the university’s never-ending commitment to preparing our students for the demands of a rapidly evolving economy,” Valli said.