| The Lally School of Management & Technology | |
|---|---|
| Rensselaer Polytechnic Institute | |
| Established | 1963 |
| Type | Private |
| Endowment | $28.5 million[1] |
| Dean | David A. Gautschi, Ph.D. |
| Admin. staff | 56[1] |
| Undergraduates | 354[1] |
| Postgraduates | 655 |
| Location | Troy, NY, USA |
| Campus | Urban |
| Website | http://lallyschool.rpi.edu |
The Lally School of Management and Technology was founded in 1963 as part of Rensselaer Polytechnic Institute. Its current mission is "To develop technically sophisticated business leaders who are prepared to guide their organizations in the integration of technology for new products, new businesses, and new systems."[2]
The school is housed in the Lally Building and in the historic Pittsburgh Building on 110 8th Street on RPI's campus in Troy, NY.
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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 the then Lally Hall, and then finally 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 as a leader, an entrepreneur, a trusted adviser, and a friend. The Lallys' impact on Rensselaer is quite valuable. They wanted the school to be known throughout the world as the best of the breed. Lally, a successful 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.[3]
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."[4]
The Lally school offers the following programs:
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 Severino Center for Technological Entrepreneurship in the Lally School fosters the work of professors at Lally who teach entrepreneurship and help develop early-stage companies. Its BIOTECH series and participation in BICONNEX events foster collaborations between high growth biotech firms in the area, venture capitalists, and larger companies. In addition the Center funds the Tech Valley Collegiate Business Plan Competition for young entrepreneurs, sponsors annual events, such as Rensselaer’s Entrepreneur of the Year, and helps build the pipeline of underrepresented populations through conferences on Women of Diversity in Entrepreneurship, which brings high caliber role models to the community.
From these efforts, students from the Lally School and Rensselaer’s broader university community can incubate their ventures at the RPI Incubator on campus. As they develop their ventures and grow their companies, they can then move on to Rensselaer’s Technology Park.
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