History
The University of Texas at Austin (UT Austin) was founded in 1883, and the university's School of Business Administration was established a few decades later in 1922. The school quickly grew, establishing a Master of Professional Accounting program in 1948 and offering its first executive education programs in 1955.
Effects of the 1990s technology boom and dot-com bubble were palpable in Austin, leaving the nickname "Silicon Hills" on the city. One McCombs School program that has capitalized on this is the Venture Labs Investment Competition, is the oldest operating inter-business school new-venture competition in the world. Begun in 1984, it has been dubbed the "Super Bowl of world business plan competitions." Also opportunistic was the creation of the school's first Management Information Systems degree in 1990. The MBA Investment Fund, LLC was also founded in 1994, becoming the first legally constituted investment fund run by Master of Business Administration (MBA) students and proving quite successful, with a 17.5 percent annual return to date. Additionally, in 1995 the college became the first to require students have an e-mail address.
On May 11, 2000, businessman Red McCombs announced a $50 million donation to UT Austin. In his honor, the College of Business Administration and the Graduate School of Business were merged under the newly created Red McCombs School of Business.
In June 2007, AT&T pledged $25 million to the McCombs School towards the construction of the Executive Education and Conference Center. As part of the financial contribution, the center, which opened August 2008, will be named the AT&T Executive Education and Conference Center for the next 25 years.
Read more about this topic: McCombs School Of Business
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