Chicago Booth entrepreneurs are in the money

Venture capital funding for MBA start-up companies returns

Start-up funding is back, it would seem, and no more so than for business school alumni with great ideas. Alumni from the University of Chicago’s Booth school of business prove the point: eleven companies started by Chicago Booth students received more than $85 million in venture capital funding during the past year.

In June, for example, Braintree, which helps businesses process credit card payments, received $34m in funding from Accel Partners. The company, founded by Bryan Johnson, a 2007 Booth graduate, won the 2007 New Venture Challenge at the school. Other New Venture Challenge winners that received funding this year include GrubHub, an online service for ordering restaurant food (2006) and Bump, which developed the Bump smartphone app (2009).

“Entrepreneurship is thriving at Chicago Booth,” according to Steven Kaplan, faculty director of Chicago Booth’s Polsky Center for Entrepreneurship. Since the start of the school’s New Venture Challenge in 1996, 65 companies have raised over $180m in funding and have created nearly 1,000 jobs, reports Prof Kaplan.

Copyright The Financial Times Limited 2016. All rights reserved. You may share using our article tools. Please don't cut articles from and redistribute by email or post to the web.

More on this topic

Suggestions below based on The University of Chicago

50 Journals used in FT Research Rank

The Financial Times conducted a review in May 2016 of the journals that count towards its research rank. As a result, the number of journals considered went up to 50 compared to 45 previously.Over 200 schools were invited to submit up to five new journals to include and five journals to exclude from the previous list. A total of 140 schools submitted their votes, a response rate of 67 per cent.Out of the 10 selected journals up for review, we decided to drop the four journals that each received 60 per cent or more of the votes: Academy of Management Perspectives, California Management Review, Journal of the American Statistical Association and RAND Journal of Economics.Out of the 150 new journals suggested, the nine journals (*) with the most votes were added to the list.