In December 2003, Wake Forest University was selected as one of only eight universities nation-wide to receive a matching grant ($2.16 million) from the Ewing Marion Kauffman Foundation to fund cross campus entrepreneurship education programs. In July 2004 under the leadership of Dr. Elizabeth Gatewood, the program was launched as the Wake Forest University Program for Entrepreneurship and Liberal Arts. Grounded in the Liberal Arts, the Program was from its inception an interdisciplinary program with a range of entrepreneurship courses and activities across the various disciplines of the University.
A core component of the Entrepreneurship in the Liberal Arts program was the Program for Creativity and Innovation. Wake Forest views creativity as a critical and multifaceted area of research and study that activates learning through a host of disciplinary and cultural pathways through which students develop new levels of thinking, humanity, expertise and innovation.
Beginning with Fall 2010, the Entrepreneurship in the Liberal Arts program, which encompassed the Program for Creativity and Innovation, was renamed the program for Innovation, Creativity and Entrepreneurship to reflect the importance of innovation and creativity to the entrepreneurial process, especially in the context of liberal arts studies as a whole.
In Spring 2006, the University introduced an undergraduate minor in Entrepreneurship and Social Enterprise. Since its introduction, the minor has become one of the most popular in the College.