The Walton Family Charitable Support Foundation will give $4.1 million over the next three years to the University of Arkansas in Fayetteville so the university can create entrepreneurial programs for outdoor recreation.
The funding will help grow community support for outdoor recreation through events and workshops. The university will create three programs: a 15-hour certificate course for outdoor products and services; a master’s of science in product innovation, which is subject to approval by the state and the UA System’s board of trustees; and a Greenhouse business incubator to be housed in Bentonville and focused on the cycling ecosystem.
“This grant will help us create an entrepreneurial culture surrounding outdoor recreation and more,” Matt Waller, the dean of the Walton College of Business at the university, said in a news release. “We could not create these programs for students, innovators, startups and small businesses without the support [of the foundation].”
The grant is meant to capitalize on the students’ interest in creating services and products for northwest Arkansas’ growing prominence as an outdoor recreation destination.
“Enjoying and sharing our natural environment makes so much sense for Northwest Arkansas — personally in terms of health, socially for building community and economically to attract and retain talent and tourism dollars,” Jon Johnson, the chairman of the Walton College’s department of Strategy, Entrepreneurship and Venture Innovation, said in the release. “The UA is perfectly positioned to support our emerging outdoor scene. The Walton family’s and local governments’ investments in trails and other outdoor infrastructure have already generated returns to the region, including the University of Arkansas. The Ozarks factor into many students choosing to attend the UA.”
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