The Mike Ilitch School of Business and Wayne State University’s Division of Entrepreneurship and Economic Development (DEED) will expand student programming and community outreach following a $500,000 commitment from JPMorganChase.
The two-year investment will support the Ilitch School’s entrepreneurship and innovation (E&I) programs and the Multicultural Professional Readiness Education Program (MPREP). University officials said the funding will allow both programs to hire additional staff, broaden services and deepen engagement with Detroit communities.
Wayne State estimates the support will enable MPREP to increase its service capacity by at least 140%. By fall 2027, the program expects to serve about 100 students each academic year and support a similar number of mentors—more than doubling its current reach.
“This transformational commitment from JPMorganChase will open doors for more students to access mentorship, engage in hands-on entrepreneurial experiences, and access the resources they need to turn their ideas into meaningful solutions,” said Dr. Virginia Franke Kleist, dean of the Ilitch School. “I am deeply impressed and grateful to the leadership of JPMorganChase for their partnership and substantial support. This investment will yield a lasting impact on our students, the Ilitch School and the greater Detroit community.”
Terrah Opferman, Michigan Region Manager for J.P. Morgan Commercial Banking and chair of Michigan’s Market Leadership Team, said the company’s investment aligns with its longstanding work in the city.
“At JPMorganChase, we are dedicated to expanding career pathways and helping more people have access to the skills and experiences needed to thrive in today’s economy. We are proud to support the Mike Ilitch School of Business as it prepares students for in-demand careers and provides opportunities for work-based learning and mentorship. This effort builds on over a decade of deep engagement in Detroit, working across sectors to advance economic growth, and expand opportunity throughout the city,” she said.
The commitment will also fund collaborations with more than a dozen small businesses and create hands-on learning opportunities for about 50 students. University leaders say these experiences will help students build entrepreneurial skills that supplement their coursework.
“This grant will enable us to accomplish two important goals at the Ilitch School,” Kleist said. “First, it will enable us to exponentially accelerate the success of our students and improve generational mobility through education. Second, it will allow us to continue our already significant efforts to spark education in entrepreneurship and innovation across the Wayne State University community and beyond.”
Sean Schroeder, DEED’s corporate engagement officer, said the support will have far-reaching effects. “We are thrilled to receive support from JPMorganChase to make this investment in our university and community. The impact of this grant cannot be overstated,” he said. “We are excited to get to work and change the lives of hundreds of Ilitch School students.”
MPREP and the Ilitch School’s E&I programs aim to increase student mobility and promote innovation through partnerships with corporate mentors, academic resources, and community organizations.
MPREP, originally created to diversify entry-level talent pipelines in accounting and finance, now serves students across all Ilitch School majors. The program provides corporate mentorship, professional development opportunities, industry exposure through regular corporate workshops, and individualized academic support that includes monthly check-ins and tutoring resources.
More information is available through corpengagement@wayne.edu and on the Ilitch School, MPREP and DEED websites.
