The University of Minnesota has announced the creation of a $50 million endowed scholarship fund at the Carlson School of Management.

Named in honor of the school's hundredth anniversary, the Carlson Centennial Scholars Program will award scholarship packages to undergraduate and graduate students and provide stipends for study-abroad experiences as well as specialized programming. The program is funded by fifteen donors, including Leland and Nancy Annett, Best Buy, Jim and Carmen Campbell, the Carlson Family Foundation, Robert L. and Judith Duffy, the Don and Lorraine Freeberg Foundation, Brian Gerhardson and John Shade, Larry and Beverly Hinman, John and Nancy Lindahl, Bill and Judy Walter, the J.A. Wedum Foundation, John and Annette Whaley, 3M, and two donors who wish to remain anonymous. The first cohort of thirty-three scholars is enrolled; once fully operational, the program will support at least seventy-five students a year.

"We are honored to be part of accelerating critical scholarships for the Carlson School of Management," said John and Nancy Lindahl, co-chairs of Driven. The University of Minnesota Campaign. "Our world needs young leaders to engage and advance world changing ideas and innovations. Centennial Scholar students will be supported to elevate their academic and professional experiences and enter the workforce ready to embody business as a force for good."

"A core priority of our campaign has been student support," said Travis Smith, the university's assistant dean. "The flexible way in which the Centennial Scholars Program is designed will enable future School leaders to have the funding they need to attract the very best students for decades to come. We are eternally grateful for the vision and generosity of the Centennial Founders."