University of Maryland Renames Entrepreneurship Center to Honor Longtime Business Dean

COLLEGE PARK, Md., Jan. 27, 2025 /PRNewswire/ -- Thanks to a $3.8 million gift from Linda Lamone, the University of Maryland has renamed its prestigious Dingman Center for Entrepreneurship as the Dingman-Lamone Center for Entrepreneurship, in recognition of the significant contributions and distinguished accomplishments of Rudolph P. "Rudy" Lamone, longtime dean of the Robert H. Smith School of Business. This philanthropic naming in honor of Lamone pays tribute to his extraordinary legacy of visionary leadership and unwavering commitment, and his instrumental role in establishing and developing the university's entrepreneurial ecosystem.

The Dingman-Lamone Center is a nationally recognized incubator for student entrepreneurship, with opportunities including for-credit experiential learning courses, venture creation programs, seed funding, and startup employment opportunities. Lamone established the center, one of the first entrepreneurship centers at a business school, with a gift from founding donor and University alumnus Michael Dingman in 1986. 

"Rudy Lamone was a guiding force at the Smith School for decades, and he made the school what it is today. He was a pioneer in entrepreneurship education not just at the Smith School but across the nation. But the Lamone name resonates far beyond our campus, given Linda Lamone's long service as Maryland State Election Administrator," says Prabhudev Konana, dean of the Smith School. "Their collective influence on the state and the university is reflected in this well-deserved honor."

As dean of the business school, Lamone found an eager partner in Dingman, the entrepreneur-philanthropist whose gift helped transform the center into a world-class entrepreneurial institute with a worldwide reach. The two had a close and collaborative partnership starting in the mid-1980's, based on their shared passion for entrepreneurship and a vision for what the Smith School could be with dedicated resources. 

"Rudy Lamone is one of the great entrepreneurs of all time," said Dingman, on the occasion of the Dingman Center's 25th anniversary. "I am reminded of what he did in starting this center when I look around at all the students here. This is what happens when you say 'What do we do to make schools better? To give people like me a chance?'"

Lamone remained deeply involved in the center's work until his passing in 2023. The center helps launch about 50-100 ventures every year, resulting in thousands of new ventures, and most significantly, thousands of entrepreneurs, since it was first established. Now in its 38th year, the center's year-round programming staples include Pitch Dingman, which engages students in a Shark Tank-style competition; Dingman Center Angels, the largest university-run angel investor network in the country; and the eight-week Terp Startup Accelerator summer program.

Lamone also co-founded an organization of academic entrepreneurship centers that allows faculty to share ideas and best practices. The Global Consortium of Entrepreneurship Centers (GCEC), initially launched at the University of Maryland in 1997, today includes more than 200 universities and colleges worldwide. The Dingman-Lamone Center was among the first of five centers chosen to receive the Nasdaq Award for a center of excellence in entrepreneurship from the GCEC.

"This transformational gift will significantly strengthen the center's endowment, enabling us to expand our programs and invest in new opportunities to foster entrepreneurship for the next generation of student innovators," says Michael Hoffmeyer, managing director of the center. "It will also allow us to deepen our support for ventures with greater seed funding and provide long-term sustainability for the center's mission to nurture entrepreneurial leaders."

The Dingman Center's work contributes to the university's reputation for excellence in entrepreneurship education. In 2023, the Princeton Review and Entrepreneur magazine noted UMD's prowess in innovation education, ranking the university No. 5 across all institutions, No. 4 among public universities and No. 1 in the Mid-Atlantic for undergraduate entrepreneurship programs – marking a ninth straight year in the top 10.

About the University of Maryland's Robert H. Smith School of Business
The Robert H. Smith School of Business is an internationally recognized leader in management education and research. One of 12 colleges and schools at the University of Maryland, College Park, the Smith School offers undergraduate, full-time and flex MBA, executive MBA, online MBA, business master's, PhD and executive education programs, as well as outreach services to the corporate community. The school offers its degree, custom and certification programs in learning locations in North America and Asia.

Contact: Greg Muraski at [email protected]

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SOURCE University of Maryland's Robert H. Smith School of Business