John Schnatter Foundation, Koch Foundation give $6.3 M for new U - WDRB 41 Louisville News

John Schnatter Foundation, Koch Foundation give $6.3 M for new U of L business center

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Papa John's founder John Schnatter speaks about the new academic center at U of L. Papa John's founder John Schnatter speaks about the new academic center at U of L.

LOUISVILLE, Ky. (WDRB) -- The University of Louisville College of Business announced a gift of $6.3 million for a new academic center Tuesday afternoon.

Two foundations provided money for the new center, including the John H. Schnatter Family Foundation and the Charles Koch Foundation.

The new center will be called The John H. Schnatter Center for Free Enterprise. It will be inside the College of Business.

Schnatter says many of his friends and family graduated from U of L, and he was happy to help.

"As an entrepreneur, you don't really know what you're doing. You just do it. But this brings it to light because you got folks who can teach it," said John Schnatter.

Schnatter, the founder of Papa John's, says the new center will help students learn how to be an entrepreneur.

"I just can't wait to one day get a phone call from that young man or young woman saying I'm successful because I learned over at U of L and the entrepreneur institute. That will be the highlight of all of this and I think we'll pull that off," Schnatter said.

The center will offer classes and a speaker series, conduct research, and other opportunities.

"The gift will also provide funding for fellowships, visiting professorships and staff support," said Dr. James Ramsey, U of L President.

"The beauty of a university is that it's an arena of ideas, and when students step into that arena, they come out much better prepared for the real world and this program will help bring these students further into that arena," said Stephan Gohmann, who will be the center's director.

The hope is to have the center ready by the fall.

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