USF receives $10 million donation for entrepreneurship center

The University of South Florida announced Friday it would name its Center for Entrepreneurship after alumnus James “Jay” Nault, who donated $10 million.

Nault is president and owner of Anclote Holding Company, a Jacksonville-based real estate holding company; and Storage Zone, a self-storage company with more than 30 locations in the Southeast. He donated to “assist with the goal of creating a living learning community and support potential new degree options for executives,” a news release said.

The money will also help support expanding mentorship opportunities and pitch competitions.

The interdisciplinary center, founded in 2002 and located in the Muma College of Business, has launched more than 300 businesses over the past decade. It operates, in partnership with USF CONNECT, the USF Student Innovation Incubator founded in 2013, providing professional connections for students with the Tampa Bay business community.

GJ de Vreede, interim dean of the business college, called the gift a “watershed” moment for the center.

“We will create a vibrant culture of innovation and experimentation that will transform USF’s students into successful innovators and entrepreneurs, and benefit the business community in the greater Tampa Bay area and beyond,” he said.