Two Northwestern University trustees and tech entrepreneurs are bankrolling a new startup space for student businesses on the Evanston campus they're calling the Garage.
The name is a reference to the birthplace of some well known tech startups in garages in California's Silicon Valley — and to the campus building now under construction that will house the incubator — which has a dual purpose as a parking garage and the incubator space.
Chicago Business reports that trustees Pat Ryan Jr. and Michael Ferro Jr. are each donating $2 million to help fund the project.
The building may open as soon as this fall.
“Every top university has something like this," Ferro says, adding, "The best place to have an incubator is at an urban university."
Editor's note: An earlier version of this story mistakenly placed the new tech startup space in a different garage under construction — at the south end of campus.