To establish the Tow-Knight Center for Entrepreneurial Journalism, where students will study new business models for journalism and create an incubator to help develop new journalistic products and services using Internet technologies. The Tow-Knight Center will build on courses already offered at the school that encourage students to create new journalistic products and services and develop business plans for them. The ideas are reviewed by a panel of venture capitalists and media professionals, and the best ideas are awarded seed capital. The new incubator will help bring these and other ideas to fruition, in cooperation with interested media companies. In addition, the Tow-Knight Center will do research on new business models for journalism at a time of declining advertising and circulation revenues.