Minot State University Alum Gives One Million Dollars - North Dakota

MSU alumnus gives $1M
California entrepreneur, wife establish program encouraging business endeavors

By ANDREA JOHNSON, Staff Writer ajohnson@minotdailynews.com
POSTED: February 10, 2010 Save | Print | Email | Read comments | Post a comment Email: "MSU alumnus gives $1M"
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Clinton Severson, chairman of the board, chief executive officer and president of the California-based company Abaxis, talks Tuesday during a press conference at Minot State University about his donation of $1 million to the university to establish a Severson Entrepreneurship Academy.

Advertisement Minot State University has received a $1 million donation from a 1973 alumnus and northern California entrepreneur to establish a program that will help enourage business students to follow in his footsteps.

The donation comes from Conni Ahart and Clinton Severson, who is chairman of the board, chief executive officer and president of Abaxis, a medical devices company. Severson said he gained a lot of practical experience working his way through college and was able to do as well as or outperform Ivy League-educated businessmen. Severson is the 2007 Forbes Entrepreneur of the year. He wants to give students a few years head start with the new Severson Entrepreneurship Academy at Minot State. Severson said he had always thought that he'd give back to Minot State in some way if he was successful.

"When I look at all the many possible organizations that I would consider worthwhile investments, Minot State University rises to the top," said Severson. "What will come of this investment in the university is a new academy aimed at promoting entrepreneurship and building better business leaders for the present and future needs of Minot and the surrounding region."

Severson said he was impressed during a recent visit to campus and heard President David Fuller's plans for the university. At the time, Fuller was filled with talk about plans for the big monument sign. Severson said when he came back last fall and saw the monument sign was nearly completed he knew Fuller wasn't "all talk."

JoAnn Linrud, dean of the college of business, said the university is currently seeking a faculty member who will head up the program. The program will not require state board of higher education approval initially because it will use existing curriculum, perhaps with the addition of a couple of courses. Fuller said the university will present plans for the new program at a future state board meeting to keep board members informed.

Linrud said the program will also include an entrepreneurship club, through which student members can learn about how to analyze start-up business plans. The club will be affiliated with the national Collegiate Entrepreneurship Organization. The program will also include an advisory board, made up of successful entrepreneurs who will guide and direct the program; a seed money fund that will enable students to start up their own businesses. The best business plans will be chosen by students in the Entrepreneurship Club. The program will include a finance club to manage the seed money fund. It will also include a resource room filled with print and electronic resources about entrepreneurship; a program assistant to manage the resource room and manage the program data; and funding to bring speakers and campus events to Minot State.

"I can truly say from experience that this is going to be a phenomenal program," said Andrew Evanoff, a Minot State graduate who obtained first an internship and then a full-time job at Severson's Abaxis. Evanoff secured the internship after serving as Severson's tour guide when he visited the campus last year and chatting with him. Evanoff told a business class at Minot State this week that success requires them to "get in front of people, get under their skin, get in their face." He said Tuesday that's what he did with Severson and gave him the opportunity to work at Abaxis. In northern California he's up against Ivy League graduates and said he's as well prepared as they were.

"They're not any smarter, they don't work any harder, and they don't look any better than us," Evanoff told the audience at a press conference on Tuesday, drawing cheers and loud applause from the audience.

Minot State officials anticipate that the program should draw more students to the university. Linrud said she thinks there's a possibility that the university might eventually offer a major in entrepreneurship, based on the success of this academy.

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