University of Maryland Honors Business Leader with Renamed Center for Entrepreneurship

A New Chapter for Entrepreneurship at the University of Maryland

The University of Maryland has taken a significant step in honoring the legacy of its former dean, Rudolph P. "Rudy" Lamone, by officially renaming its Dingman Center for Entrepreneurship to the Dingman-Lamone Center for Entrepreneurship. This change comes as a result of a generous $3.8 million donation made by Linda Lamone, reflecting the profound contributions made by both individuals to the institution and the field of entrepreneurship.

Rudy Lamone served as the dean of the Robert H. Smith School of Business for many years, playing a pivotal role in shaping the university's culture of innovation and entrepreneurship. His tenure saw the establishment of the Dingman Center, which was launched in 1986 with initial funding from University alumnus and philanthropist Michael Dingman. This initiative not only provided a platform for aspiring entrepreneurs but also set a benchmark for entrepreneurship education across the nation.

"Rudy Lamone was a guiding force at the Smith School for decades, and he made the school what it is today," said Prabhudev Konana, the current dean of the Smith School. The Dingman-Lamone Center has become a nationally recognized incubator, supporting student initiatives like experiential learning courses, venture creation programs, seed funding, and startup job opportunities.

Since its inception, this center has been crucial in launching between 50 to 100 ventures annually, nurturing thousands of budding entrepreneurs in the process. Its flagship programs, such as the 'Pitch Dingman' competition—akin to the popular 'Shark Tank'—and the Dingman Center Angels, the largest university-run angel investor network in the United States, are testament to its commitment to fostering innovative ideas.

The center has also gained international recognition through initiatives like the Global Consortium of Entrepreneurship Centers (GCEC), which Rudy Lamone co-founded. Established in 1997, the GCEC enhances collaboration among universities worldwide, sharing best practices and fostering global entrepreneurship education.

With the recent naming and increased funding, the Dingman-Lamone Center aims to strengthen its endowment, allowing for expanded programs and deeper support for its entrepreneurial ecosystem. "This transformational gift will enable us to invest in opportunities that empower the next generation of innovators," said Michael Hoffmeyer, managing director of the center.

The center's efforts have not gone unnoticed; the Princeton Review and Entrepreneur magazine have consistently ranked the University of Maryland highly in entrepreneurship education, with a notable #5 overall and #1 in the Mid-Atlantic region. This recognition underscores the university's role as a leader in nurturing entrepreneurial talent.

The renaming of the Dingman Center to the Dingman-Lamone Center reflects not only an appreciation for the past but also a commitment to the future of entrepreneurship at the University of Maryland. It highlights the importance of visionary leadership in education and sets a remarkable example for institutions across the country.

With a legacy rooted in innovation and a strong support system for future entrepreneurs, the Dingman-Lamone Center is poised to continue its mission of developing the next wave of business leaders, ensuring that the entrepreneurial spirit thrives at the University of Maryland and beyond.