The much-anticipated center for student entrepreneurs at the University of Utah is now open. The $45 million Lassonde Entrepreneur Institute opened its doors earlier this month. The center is being touted as a one-of-a-kind facility where students can live, create new products and launch companies.
The much-anticipated center for student entrepreneurs at the University of Utah is now open. The $45 million Lassonde Entrepreneur Institute opened its doors earlier this month. The center is being touted as a one-of-a-kind facility where students can live, create new products and launch companies.
A dedication and open house was held on Sept. 22.
A nationally ranked division of the David Eccles School of Business, the Lassonde Institute announced the building project in April 2014 and broke ground in October that year. During construction, Lassonde Studios received worldwide attention, featured in publications such as the The New York Times, Fast Company and on the Bloomberg business website.
“The University of Utah is already among the best schools in the country for entrepreneurship. Lassonde Studios will help us reach the next level,” said Taylor Randall, dean of the David Eccles School of Business. “We train thousands of students, help develop hundreds of startup companies and provide dozens of programs to all students. The building will amplify all of these efforts, allowing us to give every student at the University of Utah an entrepreneurial experience.”
Lassonde Studios is about 160,000 square feet on five floors. The first floor is a 20,000-square-foot innovation space, workshop and cafe open to all students at the University of Utah. That floor has many spaces and tools for students, including workbenches, group co-working areas, 3D printers, laser cutter, power tools and more. The first floor is similar to a student union for those interested in entrepreneurship and innovation. Above are four floors of student housing where 400 students will live, collaborate and launch new ideas.
More than 1,300 students applied to live at Lassonde Studios in the inaugural year. Residents applied by describing themselves and their desire to join the unique community. Those selected to live there are called the "Lassonde 400" and form a diverse group of future leaders and change-makers, a release from the university said.
“We were impressed by the quality of students who applied to join us and live at the Lassonde Studios. We think we have assembled one of the best groups of entrepreneurs anywhere,” said Troy D’Ambrosio, executive director of the Lassonde Institute. “We can’t wait to see what the Lassonde 400 accomplishes this year and in the future. We expect big things."
The first group residents of Lassonde Studios, that will live there during the 2016-17 academic year, have a variety of academic interests — the most popular include business, engineering, computer science, video games and film. They are 37 percent female and 63 percent male. They are at every academic level: 50 percent freshmen, 17 percent sophomores, 14 percent juniors, 12 percent seniors, 6 percent master’s students and 1 percent doctoral students.
Residents live on one of four themed floors, which have unique tools, furnishings and activities that match the theme. Themes include sustainability and global impact (second floor); products, design and arts (third floor); adventure and gear (fourth floor); and games and digital media (fifth floor). The themes are designed to encourage collaboration across academic disciplines.
Lassonde Studios was made possible through the vision and generosity of Pierre Lassonde, a world-renowned gold investor, founder of the Franco-Nevada Corp. and University of Utah alumnus who has donated $25 million to support the Lassonde Studios and related programs. Beyond his many professional accomplishments, Lassonde is a leading philanthropist in areas including education and the arts. He holds seven honorary doctorates from universities, including the University of Utah, and was made a member of the Order of Canada in 2001.
“We want to achieve something that has never been done before. We want to create a community of entrepreneurs unlike anything anywhere else,” Lassonde said. “The Lassonde Studios will help make this possible by providing all the space and tools students need to do amazing things. The University of Utah is now the place to be for young entrepreneurs.”
Lassonde founded what is now the Lassonde Institute at the University of Utah in 2001 with the goal of creating a center that would help students learn about entrepreneurship by working across disciplines on business ventures. That vision has grown to become one of the top entrepreneur programs in the country in just 15 years.
Other Lassonde Studios partners include University of Utah Housing & Residential Education, Cannon Design, EDA Architects and Gramoll Construction. Other major donors include David Neeleman, the Larry H. & Gail Miller Family Foundation and Zions Bank.
Neeleman is a University of Utah alumnus and commercial airline entrepreneur known for founding such companies as JetBlue, Morris Air Corp. and Azul Brazilian Airlines. He donated $2 million and the first floor is named Neeleman Hangar in his honor.