The University of Michigan-Flint is proud to announce a leadership gift of $2 million from Philip and Jocelyn Hagerman, the largest single gift to the School of Management (SOM). The donation will create the Hagerman Center for Entrepreneurship and Innovation at the SOM. Hagerman is the chairman and chief executive officer of Diplomat Pharmacy, Inc., headquartered in Flint.
"This generous gift by Phil and Jocelyn Hagerman supporting entrepreneurship education enables the School of Management to better serve our students and our community," stated SOM Dean Scott Johnson. "Phil and Jocelyn Hagerman's gift is a testament to their recognition of the importance of higher education and of the transformative impact that entrepreneurship can have on the city and the region."
The funding will also support the newly established Hagerman Endowed Professor of Entrepreneurship and Innovation. The Center will be the platform for SOM to launch the Entrepreneurship and Innovation Management major starting in the fall of 2015. The professor hired through the endowment will be responsible for running the Center, coordinating Center-related outreach efforts, encouraging faculty and student involvement, and planning the annual Business Plan Competition.
Assisting with the operations of the Center will be Hagerman Scholars. These will be students who receive scholarships that are competitively awarded based on the student's interest in entrepreneurship and innovation. The Scholars will work with the Business Plan Competition, support faculty research, work with high school students, and offer support for the Hagerman Center for Entrepreneurship and Innovation.
Hagerman says that he and his wife Jocelyn, and their family have been blessed over the past years and now have the opportunity to give back to the community.
"Jocelyn and I believe UM-Flint is a critical and growing anchor in our community, and has been an important part of the turnaround happening in downtown Flint," said Hagerman. "We believe in the school, in its leadership and in its mission. We also believe in the spirit of entrepreneurship and feel this is another way Flint and Genesee County can prosper in the coming years. Our hope in funding the Hagerman Center for Entrepreneurship and Innovation is that it will foster and expand the growth of new businesses in Flint."
In addition, the Hagerman gift will also provide the following.
• Faculty Entrepreneurship and Innovation Grants will support interdisciplinary research in entrepreneurship across various disciplines in the School of Management and the entire UM-Flint campus.
• The Entrepreneurs Society is an existing student organization that would benefit from support for its ongoing activities of visiting companies, participating in business plan competitions nationwide, and coordinating entrepreneurship themed events at the university and in the community as they currently do.
• The Business Plan Competition will engage both students and local businesses in the entrepreneurial process. The competition will become a focal point of the curriculum for the new Entrepreneurship and Innovation Management students.
"Phil and Jocelyn are making a real, tangible difference for UM-Flint, and this funding will provide substantial opportunities and experiences for our students as well as our citizens," said Chancellor Susan E. Borrego. "It is an honor to accept this gift, the largest gift to UM-Flint by a living donor, and the wonderful intention behind it which is to enhance not just our campus but also our community."