On Oct. 9, the Simon School of Business announced its new ‘InnovatUR” scholarship. Students enrolling in January 2009 will be eligible to apply.

‘The new scholarship program is designed to signal to the now, broader market of talented and motivated individuals who would consider graduate business study in the near term that Simon is interested in taking an “equity stake’ in them,” Dean of the Simon School Mark Zupan said.

The scholarship will be granted based on merit first, Zupan said.

He added that Simon is seeking new students who will help the school move to a higher level of excellence.

Financial need will be a secondary factor. Students who have already been enrolled have been given similar scholarship support.

Like Warren Buffet, the Simon School believes that now is the time to be investing in top intellectual and entrepreneurial talent.

‘In addition to now being a better time for students to consider enrolling in a full-time graduate business program, due to the macroeconomic situation, now is also a time for a leading business school such as Simon to be aggressively seeking to move to the next higher level of excellence by attracting top new students to our school,” Zupan said.

The economy’s downturn has an effect on prospective students’ ability to pay for school.

‘The biggest cost to attending graduate business study full-time is the opportunity cost of what else one could be doing with one’s time,” Zupan said. ‘That opportunity cost has fallen due to the present macroeconomic downturn, and thus pursuing a degree at a leading business school such as Simon has become less expensive.”

Wisch is a member of the class of 2011.

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