WSU Ilitch School Gets $500k from JPMorganChase to Expand Student Opportunities

December 9, 2025

Wayne State University's Mike Ilitch School of Business and its Division of Entrepreneurship and Economic Development have received a $500,000 two-year grant from JPMorganChase to enhance student programming and community engagement. The investment will strengthen entrepreneurship and innovation initiatives while significantly expanding the Multicultural Professional Readiness Education Program, which aims to increase its capacity by over 140 percent by fall 2027. The funding will enable both programs to add staff members, broaden their service offerings, and forge deeper connections with Detroit-area communities.

Who is affected

Students at Wayne State University's Mike Ilitch School of Business (approximately 100 students annually by fall 2027 through MPREP, plus about 50 students through small business collaborations)
Current and future program mentors (approximately 100 annually by fall 2027)
Staff members who will be newly hired for both programs
More than a dozen small businesses in Detroit
Detroit communities engaged through program outreach
Students across all Ilitch School majors (not just accounting and finance)

What action is being taken

JPMorganChase is providing $500,000 over two years to Wayne State University
The Ilitch School and DEED are expanding student programming and community outreach
Both programs are hiring additional staff
The programs are broadening services and deepening engagement with Detroit communities
MPREP is providing corporate mentorship, professional development opportunities, industry exposure through corporate workshops, and individualized academic support including monthly check-ins and tutoring

Why it matters

This investment matters because it significantly expands access to entrepreneurship education, mentorship, and professional development for students at Wayne State University, with MPREP's capacity increasing by at least 140%. The funding helps address economic mobility by providing students with practical skills, corporate connections, and hands-on experiences needed to succeed in today's economy. The initiative also strengthens ties between the university and Detroit's business community, particularly supporting small businesses while preparing students for in-demand careers. By diversifying talent pipelines beyond accounting and finance to include all business majors, the program creates broader pathways to economic opportunity throughout Detroit.

What's next

By fall 2027, MPREP expects to serve approximately 100 students each academic year and support a similar number of mentors
The programs will create collaborations with more than a dozen small businesses
The programs will create hands-on learning opportunities for about 50 students
Additional staff will be hired for both programs

Read full article from source: Michigan Chronicle