| The Lally School of Management | |
| Native Name: | Rensselaer Polytechnic Institute |
| Established: | 1963 |
| Type: | Private |
| Head Label: | Dean |
| Head: | Liad Wagman, Ph.D. [1] |
| City: | Troy |
| State: | NY |
| Country: | USA |
| Faculty: | 27[2] |
| Administrative Staff: | 56[3] |
| Undergrad: | 354 |
| Postgrad: | 655 |
| Campus: | Urban |
| Endowment: | $28.5 million |
| Website: | http://lally.rpi.edu |
The Lally School of Management is the business school of Rensselaer Polytechnic Institute (RPI), located in Troy, New York. Founded in 1963[4] the school offers a range of undergraduate, graduate, and doctoral programs that emphasize entrepreneurship, finance, and operations management, among other disciplines.
The Lally school, founded in 1963, is relatively new to RPI, which was founded in 1824. The Lally school was originally solely a management program for engineers. It was originally housed in the Jonsson Engineering Center and Lally Management Center, before finally being moved to the larger Pittsburgh Building. The management school was named after Rensselaer trustee Kenneth T. Lally and his wife, Thelma P. Lally. Kenneth T. Lally has been an important member of the Rensselaer community since 1970. The Lallys wanted the school to be known throughout the world as the "best of the breed". Lally, an entrepreneur who saved the historic W.& L.E Gurley Company (now Gurley Precision Instruments), knew the challenge of managing a technological venture. To help the management school gain national prominence, the Lallys gave $15 million, which was, up until 2001, the largest single gift in Rensselaer's history. To honor the benefactors and to more properly reflect the school's unique focus, the school became the Kenneth T. and Thelma P. Lally School of Management and Technology.[5]
The Pittsburgh Building was completed in 1912 and originally contained the administrative offices of the institute, the library, and the Geological and Mineralogical Museum. "It was presented by the members of the Pittsburgh Alumni Association, and has cost furnished about $150,000."[6]
The Lally school offers the following programs:
As part of an experiential learning environment, students work on the patent portfolio from Rensselaer’s Office of Commercialization in the Incubator as part of their strategy class. They take on real-world problems and research for local companies; and work with faculty on radical innovation projects for large, established firms.
The Paul J. ’69 and Kathleen M. Severino Center for Technological Entrepreneurship (SCTE) helps foster new generations of budding and successful entrepreneurs through outreach programs, education and support systems.
Centered in Rensselaer’s Lally School of Management & Technology, the Severino Center lies at the core of Lally’s commitment to Entrepreneurship, providing a broad-based platform for entrepreneurs to make the transition from concept to company.
The mission of the SCTE is to expose every Rensselaer student to the practices and principles of entrepreneurship and to extend Rensselaer’s leadership and national prominence in technological entrepreneurship. The center implements this mission by:
Providing and supporting opportunities to learn fundamental principles of entrepreneurship and study historical cases of successful entrepreneurs; Providing opportunities to listen to, interact with, and work with experienced entrepreneurs; Helping students with ideas for new innovations to find resources for commercializing their ideas, and helping students who are seeking businesses opportunities to find and initiate them; Guiding, mentoring and coaching student-based start-up businesses; Connecting students who are starting businesses to resources and networks within and beyond the Rensselaer community.
The mission also states that the Center will focus on technological entrepreneurship, meaning that attention and resources are primarily, though not solely, directed at entrepreneurial principles, experiences and new business initiatives specifically driven by novel or advanced technology.