Associate Professor of Management & Strategy Scott Stern (right) receives the Ewing Marion Kauffman Prize Medal for Distinguished Research in Entrepreneurship. Pictured with Professor Stern is Carl J. Schramm, President and CEO of the Kauffman Foundation.

Kellogg Professor Scott Stern Honored

The Ewing Marion Kauffman Foundation has awarded the first Ewing Marion Kauffman Prize Medal for Distinguished Research in Entrepreneurship to Scott Stern, a Northwestern University professor and researcher. The Medal was presented to Professor Stern on Jan. 8, 2005 at the American Economic Association annual meeting in Philadelphia.

In commemoration of the life and work of its founder, Ewing Kauffman, the Kauffman Foundation established the Kauffman Prize Medal to recognize and promote outstanding research in entrepreneurship. The Medal, which includes a $50,000 prize, is awarded every two years to one scholar under age 40 whose research has made a significant contribution to entrepreneurship.

“Entrepreneurship is central to the American economy, fueling innovation, productivity and growth,” said Carl J. Schramm, president and CEO of the Kauffman Foundation. “Yet, relative to the important role it plays, the entrepreneurial process is not well understood. The Kauffman Prize Medal underscores the importance of the scholarly study of entrepreneurship and aims to inspire promising young scholars to contribute new insight to the field.”

An associate professor of management and strategy at Northwestern University’s Kellogg School of Management, Stern received the Kauffman Prize Medal for his enterprising research into the idea marketplace, which will permit the development of new market approaches that enable entrepreneurs to better produce and sell their intellectual property.

“My research concentrates on how technology entrepreneurs confront the challenges associated with turning an ‘idea’ into a competitive advantage. Technology entrepreneurship thrives when start-up innovators are able to simultaneously protect their ideas and create a foundation for future innovation,” said Stern. “I am deeply honored by this recognition from the Kauffman Foundation.”

The Ewing Marion Kauffman Foundation of Kansas City works with partners to advance entrepreneurship in America and improve the educational achievement of youth. The Kauffman Foundation was established in the mid-1960s by the late entrepreneur and philanthropist Ewing Marion Kauffman. Information about the Kauffman Foundation is available at www.kauffman.org.