A foundation led by a University of Vermont alumnus has donated $15 million to the UVM business school that bears his name to launch an undergraduate business co-op program for students to get working experience in leading companies in Vermont and beyond before they graduate, making them better prepared for their careers.
The Grossman Family Foundation , under the leadership of Steven Grossman, has contributed or inspired the contribution of nearly $90 million to UVM over the years, including the latest $15 million gift. UVM's Grossman School of Business will become one of the few U.S. business schools with a major undergraduate business co-op program, according to a news release.
A co-op program is more rigorous than a typical internship, with students alternating between classroom education and full-time employment, gaining practical, hands-on experience as part of their undergraduate degree. Students work in a partner company for a full semester, applying what they learn in the classroom to real-world business situations.
"The Grossman Family Foundation has had a profound impact on the University of Vermont, and today marks another significant milestone in their visionary leadership and generosity," UVM President Suresh Garimella said in a statement. "The new undergraduate business Co-op program reflects our deep commitment to student success and will strengthen and enhance the standing of the Grossman School of Business among the best programs in the country."
Learning through doing makes UVM business grads more attractive to potential employers
The Grossman School focuses on learning by doing through internships, case and pitch competitions, career panels, company projects, class speakers, and student trips, with more than 90% of business undergraduates participating in at least one internship before graduation. More than 200 Grossman School alumni return to the campus each year as speakers, panelists, and competition judges, networking with students.
The new undergraduate co-op program will focus on four areas − accounting, finance, marketing and business analytics − and three themes − entrepreneurship, sustainable business and global business.
"Our best students frequently request high-impact, real-world educational experiences, while employers have told us repeatedly they prefer hosting students during the fall and spring semesters, when there are more meaningful work and learning opportunities," Grossman School Dean Sanjay Sharma said in a statement. "The Co-op solves both of these objectives and moves the Grossman School onto a short list of business school that offer the full breadth of learning opportunities available to undergraduate students."
Business school will hire three new staff to run the new co-op program
The Grossman School will hire three full staff members to run the co-op program, beginning with a director who will work with faculty to develop the program. This fall, staff will work to forge partnerships with leading companies in Vermont, as well as the rest of the United States and beyond.
"The Co-op program will be an important asset in helping the business school set students up for success and satisfaction in their careers," Steven Grossman said in a statement.
Grossman graduated from the UVM School of Business in 1961 and was the CEO of Southern Container Corp. until its sale in 2008 for $953 million to Rock-Tenn Co., based in the state of Georgia.
Contact Dan D’Ambrosio at 660-1841 or ddambrosio@freepressmedia.com. Follow him on Twitter @DanDambrosioVT.
This article originally appeared on Burlington Free Press: UVM's Grossman School of Business receives $15 million gift to launch training program
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