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Smeal's Farrell Center Wins NASDAQ Entrepreneurship Award
UNIVERSITY PARK, PA (October 12, 2005)—The Farrell Center for Corporate Innovation and Entrepreneurship at Penn State's Smeal College of Business has received the NASDAQ 2005 Center of Entrepreneurial Excellence award through a unanimous vote of peers.
NASDAQ and the National Consortium of Entrepreneurship Centers (NCEC) established the award in 2000 to recognize organizations that have made the greatest contributions in the advancement of entrepreneurship through academic and research excellence.
Don Johnson, managing director of the corporate client group at the NASDAQ stock exchange, presented the award to the Farrell Center during the annual meeting of NCEC at the University of North Carolina at Chapel Hill. Anthony Warren, Farrell clinical professor of entrepreneurship at Smeal, accepted the award on behalf of the Farrell Center, the college and Penn State.
"It's clearly a great honor to receive recognition like this from our peers," says Warren. "But it's more than just flattering. This award symbolizes all the work we've done at Penn StateŅand specifically at the Farrell CenterŅto foster entrepreneurship. We particularly appreciate the NASDAQ award because it takes into account our academic research, as well as our outreach programs, which have a direct effect on local business development and education in K-12 schools."
The criteria used to judge the centers include the quality and longevity of the entrepreneurship program, curriculum development, research contributions, community collaborations, outreach activities, and other accomplishments.
Smeal's Farrell Center was established in 1992 with an endowment from Michael J. Farrell, Smeal alumnus and president and CEO of Farrell & Company, to further the fields of entrepreneurship and innovation through education, research, and outreach to business. Farrell Center researchers and Smeal students provide counsel to a number of companies in Pennsylvania and around the country. The center also collaborates with economic development organizations to identify new ways to stimulate economic growth.
Earlier this year, Penn State was named the hottest school for entrepreneurs by Kaplan and Newsweek in their jointly produced guide, "America's Hottest Colleges."
The University of North Carolina was also honored this year with a Center of Entrepreneurial Excellence award.
More information on the Farrell Center is available online at http://www.smeal.psu.edu/fcfe/index.html.
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