History of the Price Foundation & Institute

Mr. Harold Price began his career with the Joe Lowe Corporation, a bakery and ice cream supply business that held the patent on popsicles, in 1928 after earning a BS in economics from the Wharton School. By 1938 he had formed a highly successful subsidiary of the company called "Cottage Donuts." At its peak, Cottage Donuts sold 100,000 donuts per day, produced in nineteen plants throughout the United States.

After World War II, Mr. Price was involved in an expansion program involving the buyout of similar companies by the Joe Lowe Corporation. A total of six companies were purchased, five of which were very profitable. In 1965, Mr. Price negotiated a merger for stock with Consolidated Foods Corporation. He ran the Joe Lowe division and served on the Consolidated board for four more years. Mr. Price then became a consultant and retained a sizable stock position with Consolidated Foods and its successor, Sara Lee.

Over the years, Mr. Price came to realize that American private enterprise could not flourish without the innovative spirit of entrepreneurs. They were the risk-takers who created new products and developed new applications for existing goods or services. These individuals had vision and drive and were determined to succeed despite uncertain outcomes. Mr. Price had seen the American economy grow because of entrepreneurs much like him, entrepreneurs who had a dream and made it happen.

In 1978 Mr. Price asked his friend and business advisor, Ed Appel, a founding partner in a national accounting firm, to explore the possibilities for addressing what he perceived to be a shortcoming in his experience; business schools' total reliance on business theory. Essential though it may be, theory alone did not adequately prepare students for the business world. It was clear to these two men that the environment of a stagnating economy and a need to bridge the gap between the business and academic communities made it the right time to introduce entrepreneurship into academia. To this end the Institute was established and initiated some very modest funding for research and student generated extracurricular activities at two major business schools.

From tentative beginnings when there was negligible support for the notion, Price Institute has initiated and/or helped fund entrepreneurship programs in major business schools across the United States. Based on the belief that entrepreneurship is the driving factor in a healthy economy, the Institute continues to support development of entrepreneurial curricula and explore initiatives that will assist students in preparation for doing business and adding value in today's rapidly changing business environment.

Price Institute for Entrepreneurial Studies

20 Wilsey Square
2nd Floor
Ridgewood, NJ 07450
Business Telephone: (201) 445-9980
Business Fax: (201) 445-9982

Price Institute for Entrepreneurial Studies

1371 E. Hecla Drive, Suite B-1
Louisville, CO 80027-2318

Business Phone: (303) 665-9201
Business Fax: (303) 665-1027

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