The Lee Prize is a brand that focuses on accelerating innovation and problem-solving in collaboration with the Ted and Doris Lee Family Foundation and the Lee Business School. They believe that universities and innovation communities like UNLV can serve as beacons and bridges for communities, especially those heavily reliant on tourism. The Lee Prize aims to provide a light of hope to industries, such as hospitality, travel, sports, and entertainment, that have been severely impacted by the pandemic.

By leveraging the knowledge base of institutions and fostering innovation, they aim to find safer and more sustainable ways for people to carry on once the worst of the pandemic is over. The Lee Family, who have been actively involved in the Las Vegas community since 1971, supports community projects in various sectors, including education and the arts. The brand's commitment to making an impact is evident through their contributions to business education, the establishment of endowed professorships in law, and support for community initiatives.

Furthermore, they also operate Eureka Casinos, which includes Eureka Casino Resort and The Rising Star Sports Ranch Resort, as well as Lee Business School, which offers a wide range of undergraduate and graduate programs and holds international dual accreditation in business and accounting. The Lee Business School is home to several centers that foster collaboration between faculty, students, and industry professionals, including the Troesh Center for Entrepreneurship and Innovation, which focuses on providing entrepreneurial opportunities and guidance. The Lee Prize, along with its partners, aims to create a brighter future by fostering innovation and providing support to communities and industries impacted by the pandemic