History
The Coleman Entrepreneurship Center was founded by Dr. Harold Welsch in 2003 to be an extension of DePaul’s highly acclaimed academic entrepreneurship program. The goals of the center were to help students launch and grow their own ventures as well as offer services and programs to the entrepreneurial community of Chicago.
Through the generous support of The Coleman Foundation, a Chicago-based charitable foundation that supports entrepreneurship education, DePaul University received a grant of $1 million over five years for operating funds, and a pledge of $1.5 million toward an endowment fund. These funds would provide the Coleman Center with adequate time to build alternate revenue streams so it could eventually become self-sustaining. Furthermore, these alternate income sources would help the Center subsidize the fees for its consulting services, making them free for DePaul students and below-market for area entrepreneurs.
The Center began providing consulting services and educational programs in 2004 and, since that time, has been growing steadily. What started with one full-time and one part-time employee has grown into a staff of four full-time and three part-time employees. In 2008, this team will serve nearly 150 clients through its consulting services, conduct about 50 educational programs, and host nearly 1,000 people at its events.
Also in 2008, the Coleman Center will become largely self-sustaining through its program fees, individual donations, and corporate sponsorships. This progress, along with plans for regional expansion, educational partnerships, interdisciplinary programs, and a broader range of services, will enable the Coleman Entrepreneurship Center to increasingly fulfill the original goals that were set at its founding.