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chuàng bàn
v. found, set up, establish (a school, club), start (a business, publication)
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创立 vs 创办:

创立 emphasizes on "to originate, to establish", meaning to start something from scratch.

创办 is "establish" plus to "manage" and "run" it. It is followed by: school, club, business, publication, etc.

Nouns that follow 创办: 报纸 (newspaper), 机构 (organization), 剧团 (theatrical company), 工厂 (factory), 公司 (company), 企业 (business), 刊物 (publication), 杂志 (magazine), 学校 (school)
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