Georgetown University recently celebrated a transformative gift from Ted Leonsis (CAS ’77), his wife Lynn Leonsis and their children Zach Leonsis (GRD ’15) and Elle Leonsis (COL ’14). The $5 million donation to Georgetown Entrepreneurship will directly support the Leonsis Venture Lab, a dynamic workspace for alumni entrepreneurs, as well as the prestigious Leonsis Family Entrepreneurship Prize. This contribution continues the Leonsis family’s longstanding commitment to fostering innovation and entrepreneurship within the Georgetown community.
A Legacy of Support for Entrepreneurship
The Leonsis family has been deeply involved with Georgetown for decades, championing initiatives that empower students and alumni to turn their entrepreneurial visions into reality. In 2016, they established the Leonsis Family Entrepreneurship Prize, awarded annually at the university’s “Bark Tank” pitch competition. Since its inception, the prize has distributed nearly $1 million to over 60 ventures, many of which have gone on to raise significant funding and create hundreds of jobs.
This most recent $5 million gift ensures that both the prize and the Leonsis Venture Lab will continue to thrive. The Venture Lab, located at WeWork in Capitol Crossing near Georgetown’s Capitol Campus, provides alumni entrepreneurs with subsidized workspace, mentorship opportunities, and access to investors. It is a vibrant hub where Hoyapreneurs can collaborate and grow their businesses in a supportive environment.
The Impact of the Leonsis Venture Lab
Since its establishment in 2018, the Leonsis Venture Lab has been a cornerstone of Georgetown’s entrepreneurial ecosystem. It has supported over 60 companies, offering resources such as one-on-one coaching, private pitch events with investors, and access to state-of-the-art facilities. Notable ventures that have emerged from the lab include innovative startups like MisFit Foods and TwoBirds.
The lab’s mission aligns perfectly with Ted Leonsis’ vision of creating opportunities for aspiring entrepreneurs. His generosity has enabled Georgetown alumni to launch and scale businesses that address real-world challenges while contributing to economic growth.
A Vision for the Future
Ted Leonsis’ donation is more than just financial support—it is an investment in the future of entrepreneurship at Georgetown. By funding programs like Bark Tank and sustaining the operations of the Venture Lab, this gift ensures that Georgetown remains a leader in cultivating entrepreneurial talent.
“Georgetown Entrepreneurship is about empowering people to create meaningful change,” said Ted Leonsis. “This gift reflects my belief in the university’s ability to nurture ideas that can transform industries and communities.”
Gratitude and Momentum
The Georgetown community has expressed profound gratitude for this generous gift. Jeff Reid, founding director of Georgetown Entrepreneurship, highlighted how this funding will enable continued growth: “Ted’s support allows us to provide unparalleled resources for our entrepreneurs as they tackle some of today’s most pressing challenges.”
As Georgetown Entrepreneurship continues to expand its reach and impact, this donation serves as a powerful reminder of what can be achieved when visionary leadership meets unwavering commitment. The Leonsis family’s dedication ensures that future generations of Hoyas will have the tools they need to dream big and succeed.
With this extraordinary gift, Ted Leonsis has once again demonstrated his belief in the power of entrepreneurship—and in Georgetown’s ability to lead the way.