USF launches entrepreneur program with $2.9M gift

TAMPA — The University of South Florida's Muma College of Business targets future entrepreneurs with a new program.

Thanks to a $2.9 million gift, the school is launching the Frank & Ellen Daveler Entrepreneurship Program, named in honor of the donors.

The Davelers want to help young entrepreneurs get started early. The mission of the program is “to help undergraduate students prepare to launch successful and sustaining businesses,” according to a statement.

“That's the critical time,” the Davelers say in the statement. “We observed over the years that 50% of these companies fail, many for a lack of preparation and for not understanding the importance of having the right product and the right people working with you. An educational program that can help students better understand these things could make a big difference for fledgling companies' survival and success.”

The Davelers are Naples-based entrepreneurs with experience in the aerospace, engineering and scientific instrument manufacturing industries, the statement says. Along with helping entrepreneurs get started at an early age, they chose USF because of its recognized entrepreneur programs and history of graduating successful students, the statement says.