Farley Center for Entrepreneurship and Innovation

What Farley Center for Entrepreneurship and Innovation does

The Farley Center for Entrepreneurship and Innovation is a university-based academic center within Northwestern University's McCormick School of Engineering, founded in 2008 through an endowment by James and Nancy Farley. It provides entrepreneurship and innovation education exclusively to Northwestern University students (undergraduate and graduate) across all schools and disciplines, operating as a nonprofit department within the university rather than a commercial entity. The center's core products include the NUvention experiential course suite spanning Medical, Energy, Arts, Web+Media, Transportation, and AI verticals; credit-bearing undergraduate and graduate minors in entrepreneurship; the Morehead Family Innovator Fellowship (a 10-week summer stipend program); and supplementary courses such as "ENTREP 395: The Psychology of Entrepreneurial Leaders," Entrepreneurial Sales and Marketing, and the Bay Area Quarter program that places undergrads in San Francisco tech externships. Supporting resources include mentorship, peer connections, and workspace access.

The center employs 19 staff and faculty, operates from the Ford Building on Northwestern's Evanston campus, and is governed by an advisory board of entrepreneurs and industry professionals. Its business model is endowment-funded and tuition-embedded: programs are delivered at no incremental cost to enrolled Northwestern students as part of their academic experience. Revenue is not publicly reported because the center is a nonprofit educational cost center, not a revenue-generating enterprise. It has no external investors, no venture funding, and no commercial customers — its sole "customer base" is the Northwestern student body, and its go-to-market is community-led within the university ecosystem through Northwestern's institutional channels, its own website, email newsletters, and active social media (Twitter/X, Facebook, LinkedIn, Instagram).

Distribution is entirely single-geography (USA, Evanston-based), with the Bay Area Quarter representing a one-time programmatic geographic reach rather than a permanent expansion. The center monetizes none of its outputs commercially and instead measures success in student outcomes: VentureCat competition wins (e.g., $100,000 to Trevor Abbott for HaptE in 2026; $150,000 to Charlotte Oxnam for Cue the Curves), startup formation, and post-graduate career placement. Notable outcomes include alumni such as Kickstarter co-founder Charles Adler and OpenAI staff, and faculty recognitions such as John Rogers' 2019 election to the National Academy of Medicine.

Name

Farley Center for Entrepreneurship and Innovation

Legal name

Farley Center for Entrepreneurship and Innovation

Website

https://farley.northwestern.edu

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Short description

The Farley Center for Entrepreneurship and Innovation is a Northwestern University academic center within the McCormick School of Engineering that delivers credit-bearing entrepreneurship courses, experiential NUvention programs, and minors to undergraduate and graduate students across all Northwestern schools, funded by the Farley family endowment.

Ownership category

akta.pro rank

Product category

Entrepreneurship Education

NAICS

Colleges, Universities, and Professional Schools (6113), Colleges, Universities, and Professional Schools (61131), Educational Support Services (61171)

SIC

Services-Educational Services (8200)

akta.pro primary industry

Technical Universities with Entrepreneurship & Incubation Focus (EDAHAEAH)

akta.pro secondary industry

Academic Support & Learning Assistance (Tutoring Centers) (EDALABAF)

Keywords

• Entrepreneurship education
• Innovation courses
• Experiential learning
• Student mentorship
• Startup acceleration programs

Headquarters

HQ city

Evanston

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Educational Services: The Farley Center is a university-based entrepreneurship center that provides educational services to Northwestern students. It was endowed by James and Nancy Farley and operates within the McCormick School of Engineering. The center offers credit-bearing coursework, experiential learning programs, and student resources at no additional cost beyond university tuition.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

The Farley Center is a university-based entrepreneurship center within Northwestern University's McCormick School of Engineering that delivers credit-bearing entrepreneurship and innovation education to Northwestern undergraduates and graduate students. Its core offerings include the NUvention suite of experiential, team-based courses spanning industries such as Medical, Energy, Arts, Web+Media, Transportation, and AI; undergraduate and graduate minors in entrepreneurship; the Morehead Family Innovator Fellowship; and supplementary student resources including mentorship, peer connections, workspace, and events. All programs are funded through the Farley endowment and provided to enrolled students at no additional cost beyond standard university tuition.

Product overview

The Farley Center offers a comprehensive educational portfolio centered on entrepreneurship and innovation education for Northwestern University students. The core offerings include the NUvention course suite (experiential team-based courses spanning Medical, Energy, Arts, Web+Media, Transportation, and AI sectors), undergraduate and graduate minor programs, and the Morehead Family Innovator Fellowship. Additional support services include student resources, mentorship, workspace, and programs like The Growth Lab. All coursework is accessible to students across all Northwestern schools regardless of their area of study or experience level.

Differentiator

Problem solved

Functional benefit

Products and services

• NUvention Courses Experiential, team-based courses where Northwestern students develop startup ideas across industries including Medical, Energy, Arts, Web+Media, Transportation, and AI; open to all Northwestern students regardless of area of study or experience level.
• Undergraduate Minor in Entrepreneurship Credit-bearing minor program allowing Northwestern undergraduate students from any school or major to supplement their degree with focused study in entrepreneurship and innovation.
• Graduate Minor in Entrepreneurship Credit-bearing minor program for Northwestern graduate students from any graduate school to develop entrepreneurial skills and knowledge alongside their primary degree.
• Morehead Family Innovator Fellowship 10-week summer fellowship program that supports Northwestern students in developing their startups with stipend funding, mentorship, and structured programming.
• Student Resources Centralized access to peer connections, mentorship, workspace, and support services available to Northwestern students throughout their entrepreneurial journey.

Quantifiable outcome

• Trevor Abbott won $100,000 VentureCat grand prize for HaptE warehouse optimization startup
• +2 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered core and minor.

• The Garage at NorthwesterncoreStrategic or Co-development PartnerThe Garage is Northwestern's student entrepreneurship hub that partners with the Farley Center on programs like VentureCat competition, Wildfire accelerator, and various student startup initiatives. Students can access both Farley Center courses and Garage programs.
• Querrey InQbation LabcoreStrategic or Co-development PartnerCollaborates with the Farley Center to host the Farley-Q Entrepreneurial Bootcamp, bringing together PhD students and researchers from across Northwestern's research ecosystem for entrepreneurship education and practical skills development.
• McCormick School of EngineeringcoreStrategic or Co-development PartnerThe Farley Center is rooted in and administratively part of the McCormick School of Engineering at Northwestern University. This provides access to engineering students, resources, and research capabilities.
• Kellogg School of ManagementminorStrategic or Co-development PartnerMany Farley courses and programs are taken by Kellogg MBA students, and the center offers joint programs and cross-enrollment opportunities with Kellogg.
• Paula M. Trienens Institute for Sustainability and EnergyminorStrategic or Co-development PartnerCollaborates on the NUvention: Energy course and sustainability-focused entrepreneurship education. Visiting Fellow Sailesh Chutani holds joint appointment with both entities.
• Second CityminorStrategic or Co-development PartnerPartnered on the Backable course that draws on Second City's improvisational expertise and author Suneel Gupta's book, creating unique innovation leadership training.
• Chicago Inno / Chicago Business JournalminorGTM or Marketing PartnerRegional media partner that regularly features Farley students and alumni in their Under 25 lists and Women of Influence rankings, providing visibility for student entrepreneurs.

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Harvard Innovation Labs (i-lab): Harvard's university-wide innovation space providing incubator programs, mentorship, and venture support to all Harvard students. Directly comparable to Farley's cross-school, equity-free, mentor-driven model.
• Stanford Technology Ventures Program (STVP): Stanford's entrepreneurship education and research program within the School of Engineering. Comparable as an engineering-rooted university program offering courses, mentorship, and founder development to a multi-school student base.
• Columbia Entrepreneurship: Columbia's central entrepreneurship hub offering programs, mentorship, and startup support to all Columbia students. Comparable as a cross-school, university-embedded entrepreneurship center with experiential programming.
• MIT Martin Trust Center for MIT Entrepreneurship: MIT's flagship entrepreneurship center offering experiential courses, mentorship, and startup support to MIT students across all schools. Closely mirrors Farley's engineering-anchored, interdisciplinary model and student-founder focus.
• Wharton Entrepreneurship (Penn): Wharton's entrepreneurship initiative offering courses, mentorship, and venture support across Penn. Comparable as a top-tier university entrepreneurship program with cross-disciplinary student reach and strong mentor network.
• UC Berkeley Haas Entrepreneurship: Berkeley Haas's entrepreneurship programs including the LAUNCH Accelerator and Founders' Feast. Comparable as a top research-university entrepreneurship program with mentor-driven startup support and cross-disciplinary reach.
• University of Chicago Polsky Center for Entrepreneurship and Innovation: UChicago's central entrepreneurship hub offering courses, accelerator programs (e.g., the Edward L. Kaplan, MBA '71, New Venture Challenge), mentorship, and venture funding. Directly comparable as a Chicago-area university-based entrepreneurship center with similar programmatic scope.
• Duke Innovation & Entrepreneurship: Duke's university-wide initiative supporting entrepreneurship courses, mentorship, and venture creation across all schools. Comparable interdisciplinary model and student-founder focus.

Broad incumbents

• Stanford d.school (Hasso Plattner Institute of Design): Stanford's cross-disciplinary design and innovation program. Comparable as a higher-education institution offering interdisciplinary experiential learning, but broader in scope (design-thinking) and significantly larger than Farley.
• Babson College: Undergraduate and graduate college entirely focused on entrepreneurship education. Comparable in entrepreneurship-curriculum depth but operates as a full degree-granting institution rather than a university-embedded center.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/FarleyCenterNU
• Facebookfacebook.com/FarleyCenter
• LinkedInlinkedin.com/school/farley-center-for-entrepreneurship-and-innovation
• Instagraminstagram.com/farleycenternu

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Farley Center for Entrepreneurship and Innovation