News Summary
Entrepreneur Christopher Klaus has announced a revolutionary initiative to cover the startup incorporation costs for every graduate in Georgia Tech’s Class of 2025. This support extends to all undergraduate and PhD graduates, potentially amounting to millions of dollars. Klaus, a prominent alum and founder of a successful cybersecurity firm, aims to inspire new entrepreneurs while also providing free access to essential software. His gesture marks a significant financial commitment during the commencement ceremony, encouraging graduates to pursue their entrepreneurial dreams.
Atlanta – During a recent commencement speech at Georgia Tech, entrepreneur Christopher Klaus announced a groundbreaking initiative to cover the startup incorporation costs for every graduate in the Class of 2025. This offer is applicable to all undergraduate and PhD graduates, which could potentially translate into millions of dollars if fully utilized. Klaus’s gesture marks the first time a gift of this nature has been made during a commencement at Georgia Tech, according to the university’s president, Ángel Cabrera.
Klaus, a Georgia Tech alumnus and founder of the cybersecurity company Internet Security Systems, established the firm in 1994 while still a student. His entrepreneurial venture was catalyzed by advice from an academic adviser who posed a pivotal question about the potential for commercializing his project. In a decisive move to pursue his startup, Klaus dropped out of Georgia Tech during his sophomore year, a step that paid off when his company went public and was later acquired by IBM for more than $1 billion in 2006.
This significant financial support aims not just to alleviate the fiscal burden of incorporation for graduates but also to inspire them. Klaus hopes his initiative encourages graduates to follow their entrepreneurial aspirations, reflecting the motivation he received from his adviser over 30 years ago. At the commencement ceremony, he was also awarded an honorary doctorate of philosophy by Georgia Tech, despite not completing his own formal education there.
Klaus’s commitment to Georgia Tech extends beyond this latest offering. He has previously donated equity to fund the Christopher W. Klaus Advanced Computing Building and was instrumental in co-founding the CREATE-X entrepreneurship program, which supports budding entrepreneurs at the university. President Cabrera likened Klaus to high-profile innovators such as Mark Zuckerberg and Bill Gates, noting his dedication to helping others achieve success after attaining his own.
In addition to the incorporation funding, Klaus announced he would provide students with free access to Delaware Sea Corporations software, further facilitating their entrepreneurial efforts. This aspect of his initiative is dedicated to the memory of his late son. The move to grant substantial gifts during commencement speeches is becoming more common, following previous examples like Pinky Cole Hayes and Robert Smith’s debt relief efforts for graduates at Morehouse College.
Currently, Klaus serves as the founder and CEO of Fusen, a newly established platform that connects student founders with mentors and investors. During his address, he emphasized the importance of speed and momentum in entrepreneurship to create competitive advantages in the rapidly evolving market landscape. Klaus’s message to the graduates was clear; while the financial support is crucial, it is equally essential to believe in their potential as future business leaders.
The impact of this initiative is likely to echo throughout the Georgia Tech community, offering each graduate a tangible head start in their entrepreneurial journey as they step into a new chapter of their lives armed with support unlikely seen before at a commencement ceremony. As Georgia Tech’s Class of 2025 prepares to embark on their future endeavors, Klaus’s generosity may well inspire a new wave of innovators to emerge from the institution.
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