Peter Briger and the other two Alumni of Princeton University started what we may call a gift to the entrepreneurs who share the Alma mater. These distinguished business moguls established the Alumni Entrepreneurs Fund (AEF), which contains funds that support the recent alumni entrepreneurs of the University. AEF program uplift them and their startup companies. When the Princeton Entrepreneurship Advisory Committee (PEAC) was appraising AEF, they described the program to be that will fulfill the educational mission of the University. PEAC said it would equip the beneficiaries with knowledge on risk-taking and establishing good organizations.
They also emphasized the need to train the minds of these new entrepreneurs to be creative, innovative, and to conceive impactful ideas. Peter Briger and his fellows devoted up to $100,000 to support the business ideas. Provost David highlighted that the bred entrepreneurs would be a great motivation for the learners since they will return to the University to share their success stories. He adds that they will be very crucial role models, for they will enlighten others. The chairperson of PEAC, Mung Chiang, said that sharing is part of the entrepreneurship education program to inspire these students. For one to qualify into the program, they must be recent graduates of Princeton University and has graduated not more than five years from the time of receiving the funds.
A panel that consists of six Alumni entrepreneurs reviews their proposals to initiate the mentorship process and then links them with successful alumni entrepreneurs in their respective business fields. Already the panel has selected the first four teams to do a pilot program. These teams include the founders of Kudzoo: Trevor Wilkins ’13 and Logan Cohen and Julia Macalaster ’12 and David Lamer, who cofounded PreeLine. Also, the CEO and COO of Friendsy, Vaidhy ’15 and Michael Prinsky ’15 and Maisie Devine ’11 and Isaac Rothernbaum, who are the CEO and CTO of Poacht respectively, were selected. Peter Briger congratulates the positive response of the University to embrace the program and believes that the students will be introduced to the outside business world. Currently, Peter Briger is the principal and chair of the Fortress Investment Group since 2002.