A two-year project of Southern Methodist University had just begun for its four new buildings as well as its renovation according to a Dallas Morning News article from May 6 which reports,
“Southern Methodist University broke ground on Friday for a $140 million renovation and expansion of its Cox School of Business.
The project, expected to take two years to complete, expands the school’s footprint by 30% and connects existing facilities with four new buildings.
“This project will add to the Cox School’s stellar national reputation and will enable it to continue attracting outstanding students, faculty and industry partners,” said SMU president R. Gerald Turner in a statement. “Since 75% of our Cox School graduates stay in Texas, this ambitious project is a commitment to SMU’s role as a talent magnet for the state and the North Texas region.”
Fortunately, William Spears of Cenergistic made a huge but undisclosed funding for SMU to jumpstart the latter’s reconstruction and redevelopment according to a Dallas Innovates article from April 28. They say,
“The donation—its historic amount wasn’t disclosed—was given by William Spears, founder and CEO of Dallas-based sustainability solutions firm Cenergistic, and will go toward boosting innovation and entrepreneurship at the university’s Cox School of Business.
“I hope that, through this gift, the Cox School will be a positive driver for pioneering innovation and enterprising development across Dallas,” Spears said in a statement.
Funding from the gift will help set up the William S. Spears Institute for Entrepreneurial Leadership within the business school. In addition, it will help SMU launch the Spears Accelerator to help get student- and faculty-formed businesses off the ground, along with supplying student ventures with capital via a newly created fund.
The donation will also create a new competitive scholar program and internship program for students to travel to the East Coast and London, England.
Aside from Spears and Cenergistic, a lot of donations came through along the way such as the David B. Miller Foundation which made a $50 million donation. Ultimately, these donations led up to over $100 million funding.