The Mark H. McCormack Department of Sport Management at the Isenberg School of Management, UMass Amherst formally announced today the creation of the Educational Innovation Fund. Established through the Mark H. McCormack Foundation’s gift agreement to the University, the Fund is designed to spark entrepreneurial educational initiatives that leverage the unique assets of the McCormack Collection to create new publications, products and programs that transform the educational experience for students interested in sport management. The McCormack Center for Sports Research and Education, housed in the McCormack Department of Sport Management, will administer the Fund.
Mark McCormack believed the educational experience was solidified through practical experience gained in the working world. Consequently, the Fund was established to provide seed financing for new publications, products and/or curriculum initiatives that combine 4 core components:
Through providing seed financing the McCormack Center hopes to encourage the development of new products and programs that transform the pedagogical experience of how sport management is taught globally, establishing a meaningful platform for innovation in sport management education.
Initial areas of concentration being focused on by the Fund at the McCormack Center are:
New Business Initiatives – Seed financing will be provided for the development of entrepreneurial endeavors that will foster sport industry practitioner – academic partnerships and/or those that bring “real world” learning to the academic setting. These grants are designed to provide seed funding for new business initiatives that will be reputational and revenue drivers. Priority will be given to proposals that focus on new online educational offerings or new publishing initiatives that have the potential to drive revenue to support future product offerings once business models have been established. While not strictly limited, the expectation is that each initiative will typically be funded at a rate of up to $50,000 for each business initiative.
Partner Stipends – These stipends will provide necessary support to faculty members and industry experts (both inside and outside the McCormack Department) who are leaders in their field and/or industry experts wishing to lead/author the development of new publications, products and/or other revenue generating initiatives. While not strictly limited, the expectation is that each stipend will typically be funded at a rate of up to $10,000 - $15,000 per stipend.
Proposals that fit within the spirit and purpose of the Fund will be considered for approval by the Executive Committee steering the partnership between the McCormack Foundation and the University. Academic faculty, academic staff, and industry executives are encouraged to submit proposals to the Executive Committee of the McCormack Department of Sport Management Advisory Board for consideration of their initiative.
Rob Cox, Director of Special Collections and University Archives, UMass Amherst Libraries
FOR IMMEDIATE RELEASE
Lisa Masteralexis, Department Head, Mark H. McCormack Department of Sport Management, UMass Amherst Todd McCormack, Mark H. McCormack Family Foundation Proposals, at a minimum, must provide the following for consideration:
• Executive summary of the educational project or initiative
• Timeline and budget for the implementation of the project
• Proposed revenue to be generated by concept
• Expected deliverables and other quantifiable key results Upon completion of grant, awardees must present project results and/or plan for implementation to Executive Committee of McCormack Advisory Board.
The Mark H. McCormack Department of Sport Management is located in the Isenberg School of Management at the University of Massachusetts Amherst. Created in 1972, the McCormack Department of Sport Management is the second oldest degree program of its kind in the world, and the largest and most academically diverse department in the nation. The McCormack Department of Sport Management is housed in an AACSB accredited business school and has been hailed by The Chronicle of Higher Education, Sports Business Journal, CNBC.com and other publications as a leader in its field. The department is also home to the McCormack Center for Sport Research and Education, which focuses on research and educational partnerships between the sport industry and academia.