DUKE'S FUQUA SCHOOL OF BUSINESS RECRUITS TWO PROFESSORS TO FOCUS ON ENTREPRENEURSHIP DURHAM, N.C. - Duke University's Fuqua School of Business has recruited two faculty members to help lead the school's enhanced focus on both business and nonprofit entrepreneurship. Joining Fuqua will be Kip Frey, one of North Carolina's most successful entrepreneurs, and Gregory Dees, an expert in social entrepreneurship and management of nonprofit organizations. Both will begin this fall. "They both bring outstanding reputations to Fuqua and Duke," said James E. Smith, associate professor and associate dean for The Duke MBA (Daytime) program. "With their experience and expertise, I believe that they can help provide leadership in our entrepreneurship and nonprofit efforts." Frey, a resident of Chapel Hill, has been the architect of three of the Triangle area's most notable entrepreneurial transactions, together generating more than $1 billion of investor returns. From 1998-2000, he served as president and chief executive officer of OpenSite Technologies Inc. During his 20 months at OpenSite, Frey increased its value from $6 million to the acquisition price of $550 million. Frey most recently served as vice president and general manager, Dynamic Commerce Applications, at Siebel Systems Inc., which acquired OpenSite Technologies in May 2000. In 1999, Digital South Magazine named Frey the Southeast's top chief executive officer. In June 2000, he received the Council for Entrepreneurial Development's (CED) highest honor, the "Entrepreneurial Excellence Award." He will serve as chairman of CED in 2001-2002. Frey will serve as a professor of the practice of entrepreneurial management at Fuqua while remaining a partner at InterSouth Partners, one of the Southeast's leading venture capital firms. As a member of the management faculty area, his primary responsibility will be to help develop courses and offerings related to entrepreneurship in Fuqua's daytime and executive MBA programs. In addition, he will advise and mentor students involved with the Duke University Network of Entrepreneurs (DUNE), the Duke Start-Up Challenge, E-Vision and other entrepreneurial initiatives and events. Since 1994, Frey has taught courses mostly in the area of intellectual property and policy at the Duke Law School and the Sanford Institute of Public Policy. "It's great to be back on the Duke campus and to be part of the Fuqua community. My primary objective is to bring conceptual tools and my personal experience with the entrepreneurial community into the classroom to enable the students to identify and evaluate entrepreneurial opportunities," Frey said. Frey is a Phi Beta Kappa graduate of the University of Southern California Film School and of Duke Law School. Dees has accepted a one-year appointment as an adjunct professor of social entrepreneurship and nonprofit management at Fuqua and will teach a social entrepreneurship course to the daytime students. He also will develop a detailed strategic plan for Fuqua and other Duke partners to stake out an appropriate leadership position in management education and research concentrating on social entrepreneurship, nonprofit management and philanthropy. Dees comes to Fuqua from Stanford University's Graduate School of Business where he was the Miriam and Peter Haas Centennial Professor in Public Service and founding co-director of the Center for Social Innovation. He previously taught at the Yale School of Management and Harvard Business School. Widely recognized for his pioneering work in the area of social entrepreneurship, Dees has played a key role in establishing major initiatives in this area at both Harvard and Stanford. His work at Harvard brought him the Apgar Award for Innovation in Teaching. Dees recently published Enterprising Nonprofits: A Toolkit for Social Entrepreneurs (John Wiley & Sons, 2001), in collaboration with Jed Emerson and Peter Economy. "This is a great opportunity to work with Kip Frey in the entrepreneurship area," Dees said. "I am particularly eager to see how Duke can best help nonprofit and business leaders put entrepreneurial skills to work in tackling social problems." Dees serves as an entrepreneur-in-residence at the Center for Entrepreneurial Leadership at the Ewing Marion Kauffman Foundation. He is also on the advisory boards of The Bridgespan Group, Bain & Company's nonprofit consulting affiliate, and SeaChange, a national organization devoted to bringing social entrepreneurs and investors together. He is a graduate with high honors from the University of Cincinnati and received his master's degree in public and private management from Yale University. He received his Ph.D. in philosophy from Johns Hopkins University. June 20, 2001 Contacts Jim Gray jigray@mail.duke.edu (919) 660-2935 Kerry Finnegan kerry@mail.duke.edu (919) 419-5987