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The New Veloric Center for Entrepreneurship: Fostering Innovation and Building a Legacy at American University’s Kogod School of Business

A gift from the Veloric family will fund expanded opportunities for aspiring entrepreneurs through experiential learning, pitch competitions, and an enhanced incubator program for students and alumni.

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In a momentous stride toward nurturing the entrepreneurial spirit and fostering innovation, the Kogod School of Business at American University recently accepted a profound and heartwarming gift from the Veloric family, including Kogod alumnus Gary Veloric. This substantial contribution, a cornerstone of American University's "Change Can't Wait" campaign, not only solidified the Veloric family's ongoing connection to the university but also marked a pivotal transformation at one of the most popular hubs on campus. In recognition of the Veloric gift, the American University Center for Innovation (previously known as AUCI) has been renamed the Veloric Center for Entrepreneurship. 

Gary Veloric, a distinguished Kogod alum (BSBA ’82), has been a pillar of the American University community for decades. In addition to his influential role on the Kogod Advisory Council for over 20 years, he was honored with the Dean's Award in 2009 and selected as a commencement speaker. 

The AU community celebrated the Veloric family's generous gift with festivities on October 13—including an intimate unveiling of the new Veloric Center for Entrepreneurship, followed by a reception.  

Then, in a nod to Gary's college days at AU—when he chaired the university concert committee—the evening culminated in a concert headlined by Flo Rida at AU's Bender Arena. This event was organized in part by undergraduate students in Kogod’s Business and Entertainment program, reflecting the rich heritage of practical learning that shapes the educational experience at the school. Gary attributes much of his entrepreneurial prowess to his hands-on experience as a student, through which he gained invaluable skills in booking talent, promoting, marketing, and managing events. 

For Gary Veloric, this contribution represents more than just a gift; it's a heartfelt investment in the next generation of business leaders. He believes that the education and experiences he received at Kogod played a pivotal role in nurturing the entrepreneurial mindset that runs deep within his family's DNA. As a four-generation family of entrepreneurs, Gary and his family are thrilled to support the development of future business leaders at AU. 

Gary's own entrepreneurial journey has been nothing short of remarkable. Since his time at AU, he has been at the forefront of spearheading and supporting over a hundred businesses. His passion for entrepreneurship and his unwavering dedication to Kogod and AU exemplify the impact that one individual can have in shaping the futures of many. 

The transformation of the American University Center for Innovation into the Veloric Center for Entrepreneurship not only stands as a testament to the Veloric family's generosity but also as an inspiration for aspiring business leaders. It underscores the vital role that education and mentorship play in nurturing the entrepreneurial spirit—and it serves as a reminder that, indeed, "Change Can't Wait."  

The Veloric Center for Entrepreneurship is set to inspire generations of students to reach their entrepreneurial and business potential, carrying forward the legacy of innovation and entrepreneurship that defines American University's Kogod School of Business. With the Veloric family's enduring commitment, the future looks brighter than ever for budding entrepreneurs at AU.