Jon Brumley, a Fort Worth businessman and entrepreneur has given more than $6 million to the McCombs School of Business at the University of Texas at Austin to fund the growth of the school’s startup accelerator program, Texas Venture Labs.
Brumley, who holds a BBA from McCombs and an MBA from the Wharton School, hopes his gift will help to grow the Texas economy while giving a leg up to young entrepreneurs who remind him of himself.
Brumley, founded six oil and gas companies listed on the New York Stock Exchange, was Forbes magazine’s 2005 “Entrepreneur of the Year” along with his son, Jonny.
McComb's accelerator has worked with 40 companies that have raised more than $25 million in investment capital just in the two years since it was established. It also sponsors the annual Venture Labs Investment Competition, underway now on the McCombs campus.
The 2012 investment competition is entitled “Investor Ready.” Taking place this year from May 2-5, the annual event draws graduate schools from around the world to Austin each spring
