September 15, 2006

The University of North Dakota has been named one of the top ten "Best Schools for Entrepreneurs" in the nation, according to a survey of more than 700 schools by The Princeton Review and Entrepreneur magazine. UND ranks 8 out of the top 25. The survey results, along with the analysis, appear in the October issue of Entrepreneur, which hits newsstands Sept. 26, 2006.

This is the second time the University has been recognized in a similar list as a national leader for producing and supporting entrepreneurs. In 2004, UND ranked 14 of 25 as a top entrepreneurial campus by Forbes.com and the Princeton Review.

"This ranking solidifies UND and the College of Business and Public Administration as a leader in the field of entrepreneurship," said Dr. Dennis Elbert, dean of UND's College of Business and Public Administration. "To be considered one of the best undergraduate entrepreneur programs endorses our efforts in providing the best opportunities for up-and-coming business leaders across North Dakota and the nation. We are incredibly proud of this accomplishment."

"It is a thrill to be part of this vibrant and growing program. The students have responded so well to the challenges we have placed in front of them. North Dakota has always been about the pioneering spirit and it continues today. We enjoy such enthusiasm by the region's entrepreneurs and UND alumni who come back to the classroom and participate, it gives the next generation a real advantage in seeing their future," said Dr. Jeffrey Stamp, who holds the Endowed Chair of Entrepreneurship and Innovation.

The endowed Chair of Entrepreneurship was funded by James Ray, one of the top donors to UND. Ray and his late wife, Joan, developed a cattle vaccine and founded the Ray Foundation, through which Ray has also established a $2 million endowment within the Center for Innovation Foundation to support outreach to young entrepreneurs. Additionally Ray has been a strong supporter of UND's John D. Odegard School of Aerospace Sciences.

UND Entrepreneurship was top ranked based on its success connected to a number of factors, including curriculum, mentoring, experiential learning, faculty credentials, and the success of graduating students and alumni. Robert Franek, editorial director of Princeton Review Books, said UND and other high-ranking schools demonstrated a commitment to practical, hands-on experiential learning to provide the skills that translate into real-world businesses.

UND has long been a leader in entrepreneurship. Formed in 1984 and nationally recognized five times for excellence in innovation and entrepreneurship, UND's Center for Innovation was among the nation's first entrepreneur outreach centers and the Skalicky Tech Incubator was one of the very first campus incubators in the nation. Its sister facility, the Ina Mae Rude Entrepreneur Center, was funded in large part from diving board entrepreneur Ray Rude, developer of the Duraflex diving board, in honor of his wife as well as matching funds from Gov. John Hoeven's Centers of Excellence program and the US Economic Development Administration (EDA).

The Entrepreneur Program is one of the fastest growing programs at UND, with more than 50 majors and more than 200 students enrolled in classes. 50 entrepreneur students are enrolled in the capstone business plan course this semester alone.

Bruce Gjovig, who leads UND's Center for Innovation, said 21 student ventures have been started in the last two years through the Mueller Entrepreneur Program funded by Kurt Mueller, former president of the Kauffman Center for Entrepreneurial Leadership. UND is among a small handful of campuses with this kind of entrepreneur activity, said Gjovig, who added that students have offices in Skalicky Tech Incubator on campus.

Gjovig also cited a student-run venture fund established this fall by Bart and Lynn Holaday of Albuquerque, NM who also serves as Chair of the Center for Innovation Foundation. It is among the first funds of this kind in the nation offering student hands-on experience with venture capital investing. Bart Holaday is a retired venture capitalists who also founded the Dakota Foundation with his wife Lynn.

For more information and a complete listing of the schools, go to www.Entrepreneur.com

The College of Business and Public Administration at the University of North Dakota offers 14 undergraduate and six graduate degree granting programs from eight academic departments. The college enrolls an average of 1,900 undergraduate and 170 graduate students per year and is accredited by the prestigious AACSB International (Association to Advance Collegiate Schools of Business). The College of Business and Public Administration is also host to the outreach divisions for the Center for Innovation and the Small Business Development Center.

Click here to see the complete list of the Best Schools for Entrepreneurship