Commonwealth Shakespeare Company has a new home. The renowned theater company known for its annual Shakespeare on the Common productions as well as its educational work in public schools and with the Boys & Girls Clubs of Boston will be the resident theater company of Babson College. In announcing the new partnership Tuesday, CSC and Babson said the theater company will devote “significant resources” to Babson’s arts and academic programs to bolster the college’s efforts to enhance “synergies between entrepreneurship and the arts.” Steven Maler, founding artistic director of CSC, will serve as director of Babson’s Sorenson Center for the Arts and Adam Sanders, CSC’s associate artistic director, will serve as associate director of the Sorenson Center for the Arts. “Experiences that require creativity and collaboration are essential to developing an entrepreneurial mindset and skillset,” Kerry Healey, Babson’s president, said in a statement. “As a business school dedicated to preparing entrepreneurial leaders who create sustainable economic and social value across all spheres of society, Babson recognizes the important role the arts and sciences play in offering our students a deep set of experiences that build a full spectrum of knowledge.” As part of the new arrangement, Babson professor Beth Wynstra will become faculty director of the Sorenson Center for the Arts, working with Maler and Sanders to shape all arts programming at Babson.