Yorkshire entrepreneur invests in major MBA initiative
YORKSHIRE entrepreneur Dominic Marrocco has donated a substantial sum of money to fund 10 MBA scholarships and set up a centre for entrepreneurship at a university business school.
Leeds-born Mr Marrocco, who splits his time between his homes in Las Vegas and the UK, has built a series of businesses in telecoms, IT, property and venture capital, and now has linked up with Bournemouth University to launch a competition to find 10 talented business professionals who will each receive a £14,000 fully-funded scholarship for an MBA at the south coast university’s Executive Business Centre.
The businessman, 36, who made his first £1m by the time he was 21, has also funded The Dominic Marrocco Centre for Entrepreneurship, which is currently appointing a chair to develop Bournemouth University’s research capacity in this field of expertise.
Mr Marrocco, who sold internet service provider Firstnet Services to Minorplanet and Pipex before buying broadband business 186k in 2004, made headlines four years ago when he bought former heavyweight boxing champion Mike Tyson’s Las Vegas mansion in a $4m deal.
A serial entrepreneur, he became involved with Bournemouth University (BU) last year as an equity partner and chairman of its commercialisation arm Widget Co.
Mr Marrocco told TheBusinessDesk.com: “That’s when I gained more knowledge into the aspirations of BU and decided to assist them though development of The Business School and specifically within entrepreneurship.
“BU honoured me by naming the new School after me and I have continued to support them and we have an ambitious strategy for growing this into the number one centre for entrepreneurship globally as it is extremely unique and relevant to real world.”
Professor Thomas Lange, dean of BU’s Business School said: “Having someone of Dominic’s calibre, both professionally and personally, is a real coup for BU.
“His own story is one of inspiration, which tomorrow’s entrepreneurs can relate to. Yet Dominic recognises the value in ensuring that the talent of those serious about being in the cut and thrust world of business is nurtured to develop both their intellect and ideas.”
Following his graduation this year from Harvard Business School’s prestigious owner/president management programme (OPM), Mr Marrocco said he was inspired by his mother’s recovery from cancer to invest his time and money into a new generation of entrepreneurs rather than just on his own many business interests.
“Since my mother’s astonishing recovery from pancreatic cancer last year, I have revisited the purpose of my endeavours, it is now time to make the transitional shift from the young serial entrepreneur to something a little more substantial.
“Life has provided many business opportunities that I was fortunate in exploiting. Looking back at my experiences, successes and the lessons learnt, it is now my passion to pass on this knowledge and am delighted to be involved with building the next generation of business leaders,” said Mr Marrocco.
As a Visiting Fellow of the Business School, he will assume the role of mentor for the new MBA candidates.
The £14,000 scholarship covers all full-time tuition fees and commences in September 2010. Ten scholarships are available for applicants who will be asked to write a 1,000-word essay in support of their application, in addition to demonstrating a minimum of three years professional / management experience:
For more information and to apply for the scholarship, go to: www.bournemouth.ac.uk/dmscholarships
