Updated: Thursday, November 5th, 2009

MBA candidates at the University of California, Irvine's business school will be able to apply for a new fellowship beginning next year.

Family and colleagues of Luis Villalobos have announced the creation of the Luis Villalobos Endowed Fellowship in Entrepreneurship, which will be available to graduate management students at the university's Paul Merage School of Business.

Villalobos, who died in October, founded the investment firm Tech Coast Angels, which offers funding and advice services to early-stage, high-growth companies in southern California.

The fellowship is being developed to honor Villalobos's legacy in the business world and "continue his mission to help and assist young entrepreneurs," said Richard Sudek, president of Tech Coast Angels Orange County.

Students who meet the requirements for admission at the Merage school and demonstrate an interest in entrepreneurship or desire to start a business may apply for the endowment, which will only be disbursed in years when a qualified candidate is identified.

Associates and bachelors degrees in business open the door for students and professionals to take advantage of similar opportunities in an MBA program. PayScale.com, a research company, says that average salaries for holders of MBA degrees ranged from $73,510 to $171,583 in 2008, depending on the field, position and years of experience.

Related Articles

Business schools' career service departments could help students launch hig
MBA programs can accelerate business careers in real estate
Northwood University develops online MBA program for aftermarket profession
Babson College holds international business summit
Study: Postponing enrollment in MBA programs could impact earning potential