RC and Egg Factory Form Alliance

SALEM, VA- Roanoke College will establish a Center for Leadership and Entrepreneurial Innovation in partnership with The Egg Factory, a creator and developer of innovations to Fortune 500 companies and private equity firms. The Center will focus on two primary initiatives for students enrolled in the Roanoke College business curriculum: an academic concentration in business leadership and the development of entrepreneurship and innovation skills through the alliance with The Egg Factory. The Center will be part of the college's Department of Business Administration and Economics. The formal alliance with The Egg Factory begins with the summer 2004 Innovation Challenge.

The Center for Leadership and Entrepreneurial Innovation is supported by a five-year grant of $651,000 from an anonymous foundation.

"This remarkable alliance provides Roanoke College students the unique opportunity to combine the study of leadership with the creation of innovations in The Egg Factory's entrepreneurial culture," Roanoke College President David M. Gring said. "Experiences like these are rare in the world of higher education today."

The academic concentration in business leadership will provide students with the necessary foundations in critical thinking and leadership principles to enable their development as ethical leaders capable of succeeding in multiple organizational settings. The academic concentration will include courses in foundations of business leadership, team dynamics, conflict management, business ethics, social psychology and advanced topics in leadership. The principles taught in this new curriculum will focus on how leaders must continuously transform organizations in order to remain viable in the 21st century hypercompetitive marketplace.

"From the Industrial Age to the Technology Age, innovation has been the foundation of business success. Graduates entering today's competitive business environment must embrace and understand the importance of innovation and how to implement it," said Dr. Ron Blum, CEO of The Egg Factory and a member of the Roanoke College Board of Trustees. "The Center for Leadership and Entrepreneurial Innovation gives Roanoke College students the opportunity to develop these skills through academic study and the real world experiences they gain at The Egg Factory. I know of no other program for innovation in the country that builds a business foundation for success in the manner that this center will."

The alliance with The Egg Factory prepares Roanoke College business graduates to deal with the complexities of leadership in an innovation culture and to develop entrepreneurial skills through student participation in The Egg Factory's intensive summer Innovation Challenge program and individual internships with The Egg Factory during the academic year. Innovation Challenge is an extraordinary opportunity for Roanoke College students to conceive proprietary innovations and to develop the associated business plan. Students learn first hand about innovation, intellectual property, market analysis, technology development and entrepreneurship. This competitive, eight-week program brings together outstanding business, engineering, humanities, and industrial design students from some of the finest colleges and universities in the nation. One of The Egg Factory's recent innovations, PocketMate™, which is being developed through an alliance with Avery Dennison, was generated through Innovation Challenge.

"The Center will offer cutting-edge programs that very few private liberal arts colleges make available to undergraduates," says Dr. Larry Lynch, chair of the Business Administration and Economics Department. "Roanoke College now has an opportunity to be a leader in the field of business education by developing and offering these innovative and relevant programs."

In addition to the Innovation Challenge, The Egg Factory will serve as an internship site for Roanoke College students. The Egg Factory internship provides students with the remarkable opportunity to work directly with The Egg Factory executives as they take transformational innovations from concept to entry in the marketplace.

Roanoke College, the country's second oldest Lutheran-related college, is an independent, co-educational, four-year liberal arts college. Its 1,900 students represent Virginia, 39 states across the U.S. and 16 foreign countries. It offers 34 majors with bachelor's degrees in arts, science and business, as well as pre-professional majors in law, medicine, dentistry, engineering and ministry. The College is listed in U.S. News & World Report's Best Colleges Guide as a national liberal arts college. Roanoke is one of just 270 colleges nationwide with a chapter of Phi Beta Kappa, the nation's oldest and most prestigious honor societies.

For additional information, call the Roanoke College Public Relations Office at (540) 375-2282.
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About The Egg Factory
The Egg Factory, LLC, is an organization dedicated to the creation and development of significant consumer and industrial innovations. The company creates transformational technology and global innovative solutions and then sells or licenses them to Fortune 500 companies, and private equity firms for their commercialization. Since its founding, The Egg Factory (TEF) has provided a number of significant innovations to large global companies and private equity firms including: e-Vision, (electro-active focusing optics technology for the correction of presbyopia) to Johnson & Johnson; AgroShieldTM , (polymer technology that protects crops against loss due to freezing temperatures) to a private equity group. TEF recently formed an alliance with Avery Dennison to develop PocketMate™, a product intended to provide a unique, hassle-free means for carrying and storing personal or valuable items, such as identification and money, and for secretly storing tracking devices to protect children and loved ones. Today, TEF has more than two-dozen innovations at various stages of development. For additional information about TEF, and its innovations visit www.eggfactory.com.