The college will be opening a workspace for digital entrepreneurship at the organization’s space in Merchandise Mart, which already houses 325 digital start-ups. Students who have been approved will be able to reserve space to work on their start-ups and connect with others working on similar projects. This will engage students with Chicago’s entrepreneurial community via events and programs, as well as venture capitalists and potential associates among their peers.
Ugur Uygur, assistant professor at Loyola’s Quinlan School of Business, said:
It will mean that we will provide a great avenue for students to do pretty much anything entrepreneurial. We have a growing entrepreneurship program at Loyola, and this partnership will allow us to actually connect with the entrepreneurship community in Chicago.
Loyola instructors will also be able to serve as mentors to 1871’s entrepreneurs, writes Karis Hustad of Chicago Inno. For example, people who have received diversity scholarships from 1871 have already been paired up with faculty from the departments of law, communication, and business for coaching over the course of several months.
Doug Pitorak of Built In Chicago quotes 1871’s CEO Howard Tullman about the importance of collaboration:
Our relationships with universities have been essential in our ongoing effort to expand innovation and entrepreneurship throughout Chicago. Having university members and student entrepreneurs as a part of 1871 creates new and exciting opportunities for everyone. We are thrilled to welcome Loyola to our community.
Loyola’s Pre-College Summer Scholars, high school students who attend week-long leadership camps at Loyola, will also benefit, and will now have the opportunity to visit 1871 on field trips.
Other schools that have already joined up with 1871 include Northwestern University, the University of Illinois (at Urbana-Champaign, Chicago, and Springfield), the University of Chicago, and the Illinois Institute of Technology, writes Dian Schaffhauser of Campus Technology.
Provost Jogn Pelissero said:
As a university, we are committed to connecting our students with opportunities both within, and beyond, Loyola’s campuses. This opportunity to partner with 1871 and its entrepreneurial community benefits all of our students– undergraduate and graduate– and demonstrates our commitment to preparing students for a lifetime of leadership and innovation.
Some Loyola students have already participated in Campus 1871, a weekend-long event during which students create and pitch a start-up over the course of 72 hours, while teaching them the fundamentals of the startup process.
1871‘s name comes from the year that Chicago was ravaged by its great fire, and professionals, architects, engineers, and businesspeople banded together to rebuild the city. The name was chosen to illustrate the magnanimous and community-oriented approach that 1871 takes as it sponsors technology start-ups.