Major Gift to Support Student Innovation at McMillon Innovation Studio
The Sam M. Walton College of Business at the U of A is pleased to announce a significant philanthropic gift from Doug and Shelley McMillon in support of the McMillon Innovation Studio. The McMillon Family Foundation has committed $10 million to establish the McMillon Innovation Studio Endowed Fund and the McMillon Innovation Studio Construction Fund.
The McMillon Innovation Studio Endowed Fund creates an endowed fund to permanently support the studio’s operations. The McMillon Innovation Studio Construction Fund will provide funding for a new home for the studio, creating opportunities to engage more U of A students in the future.
These gifts permanently establish the McMillon Innovation Studio within the Sam M. Walton College of Business at the U of A, allowing it to have an impact on thousands of future students and serving as lasting recognition of Doug and Shelley McMillon’s impact on the Sam M. Walton College of Business and the U of A.
The McMillon Innovation Studio’s mission is to develop future leaders, entrepreneurs and innovators by cultivating their creative mindset and connecting them to opportunities to make real-world impact. Students in the studio are given access to valuable mentorship and resources – providing further support to cultivate their creative skills and empower them to deliver impact innovation through organizational, social and entrepreneurial change.
“Tomorrow’s challenges will require fresh thinking, visionary leadership and decisive action," said Chancellor Charles Robinson. "This extraordinary gift from Doug and Shelley McMillon will empower generations of University of Arkansas students to become the innovators and problem-solvers driving progress across the state and beyond.”
Founded in 2016 with support from Walmart President and CEO and Walton College alumnus Doug McMillon and his wife, Shelley McMillon, the studio provides students from across campus with a collaborative space to prototype ideas and tackle complex business and social challenges. The McMillon family previously invested $2 million in the studio with additional financial support from Kelly and Steve Barnes, Claude and Don Harris, and Sunny Gosain.
McMillon, a longtime advocate for innovation and education, shared: “Supporting the studio means supporting the next generation of innovators. I believe the students working here today will be the founders, thinkers and problem-solvers we’ll all depend on tomorrow.”
“Philanthropy at its best doesn’t simply fund programs, it catalyzes possibility and impacts lives,” said Scott Varady, vice chancellor for advancement. “Doug and Shelley McMillon’s vision and generosity will empower students across disciplines to lead with purpose, think boldly and take action in an ever-changing world. We are grateful for their enduring commitment to the University of Arkansas and to the success of our students."
As technology evolves and change accelerates, the skills and capabilities associated with an innovative mindset become more valuable to U of A students. In recent years, the studio has become a hub for U of A students who seek to develop their own innovative mindset.
“The McMillon Innovation Studio represents the very best of what a 21st-century business education should offer: hands-on, human-centered and future-focused,” said Brent Williams, dean of the Sam M. Walton College of Business. “This generous gift from Doug and Shelley McMillon allows us to deepen our commitment to innovation and student success.”
To learn more about the McMillon Innovation Studio and how you can get involved, visit https://mcmillonstudio.uark.edu.
Contacts
Jerra Toms, director of marketing and communications
Sam M. Walton College of Business
479-575-7656,
jtoms@walton.uark.edu