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    Boston University launches ‘Innovate@BU’

    Boston University on Wednesday announced a $20 million initiative to foster creative problem solving and innovation among students at its schools and colleges.

    Innovate@BU will be housed in the “BuildLab,” a 6,000 square foot space to be built on the former site of a Radio Shack store at the corner of Commonwealth Avenue and St. Mary’s Street, the university said in an article published in BU Today.

    The space will have meeting rooms and work spaces to host “hackathons, accelerators, classes, and hands-on workshops with mentors from BU, industry, government, nonprofits and the arts,” the university said in a statement.

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    The initiative will also include partnerships with the city of Boston, the state and the “local innovation community,” such as start-ups, the statement said.

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    The program will be funded in partnership by the private university and a group of alumni who will provide $20 million of support for its first 10 years, the statement said.

    “The initiative will help BU students convert their ideas into tangible impact, and will foster the creativity, innovation and problem-solving ability needed to become 2st century leaders,’ the statement said.

    Jake Johnson can be reached at jake.johnson@globe.com.