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Frank Liu's $16.5M Donation Will Spur Entrepreneurship In Houston

Rice University

The Frank and Cindy Liu Family Foundation donated $16.5M to Rice University to start a new entrepreneurial program for students.

As president of Lovett Commercial, Frank's a well-known and impactful Houston developer; his pioneering EaDo townhomes won ULI's Development of Distinction in 2011, and he made headlines last year with the purchase of the Downtown Post Office site.

The new program, Lilie, short for the Liu Idea Lab for Innovation and Entrepreneurship, will expand on Rice’s commitment to entrepreneurship by offering new courses and funding projects for students looking to tap into Houston's growing startup scene, the Houston Business Journal reports.

The announcement follows a recent study released by Rice’s own Baker Institute of Public Policy claiming Houston was not viable for entrepreneurship. Hopefully this donation will go a long way towards changing that. [HBJ]