1982 graduate of Auburn’s Raymond J. Harbert College of Business Benny M. LaRussa Jr. and his wife, Lynn, formed the LaRussa Catalyst Fund within the College of Business.
Benny graduated from the College of Business with a degree in finance and is the founder and current CEO of Sterling Capital Management, a multi-asset holding company. Lynn is graduate of Vanderbilt University graduate, and went on to work for SouthTrust Bank, Wells Fargo, and retired after 21 years as a senior vice president of
The LaRussas are involved in a variety of philanthropic and community causes. Benny serves as chairman of the Joseph S. Bruno Charitable Foundation and assists a variety of nonprofit organizations, including the Comprehensive Diabetes Center at UAB, the Crippled Children’s Foundation, the Salvation Army and the Bell Center. He also serves as vice chair of the Auburn University Foundation Board of Directors.
Lynn serves on boards for the YWCA of Central Alabama, the Alabama Symphony Association
Benny began his career in the banking sector and said his interest in entrepreneurship was influenced by his grandfather, Joseph S. Bruno, who transformed a small, family-owned grocery store into a publicly traded,
“Lynn and I see tremendous value in supporting the Harbert College and Auburn University entrepreneurs,” Benny said. “Success in entrepreneurship begins with a sense of purpose and a clear vision. My grandfather took $600 in savings to start a grocery store in 1932 and, through hard work and servant leadership, turned it into one of the most respected grocery operations in the country. We expect this endowment to create similar possibilities for Auburn University students who aspire to develop new products or launch businesses.”
The LaRussa’s endowment will support the Tiger Cage Accelerator and Incubator and the development of a summer accelerator program. The program will help Auburn student entrepreneurs perfect their business concepts, perform customer discovery, validate business models and attract investors.
The Tiger Cage Accelerator and Incubator celebrated its grand opening Oct. 6. The 2,800-square foot facility includes three offices, a conference room, a collaborative work area and a break area for student entrepreneurs. As the program and its needs grow, the Tiger Cage Accelerator and Incubator will move to a larger space capable of accommodating more students and companies.
Housed in the Auburn Research Park, the Tiger Cage Accelerator and Incubator provides office and co-working space for student-led companies and is managed by the Harbert College’s Lowder Center for Family Business and Entrepreneurship.
Teams will meet weekly to discuss progress and will receive advice from industry partners on revenue growth, sales
“The Tiger Cage Accelerator represents a prime example of how we are positioning our students for success while also stimulating economic development in East Alabama and the entire state,” said Harbert College of Business Dean Bill Hardgrave. “Students working in the accelerator will receive guidance from faculty experts and mentorship from successful entrepreneurs as they progress through the different stages of the entrepreneurship process. Once their ideas mature and their businesses take shape, we expect many of them to create employment opportunities and growth for Alabama communities.”
“The LaRussas’ generosity advances our efforts to establish the Harbert College and Auburn University as regional and national leaders in entrepreneurship,” Baker said. “Our students have an abundance of ideas and the determination to see them through.”
As a part of 1982 graduate Raymond Harbert’s dollar-for-dollar “challenge match” initiative, Harbert will match the LaRussa’s endowment which will increase total support for the Tiger Cage Accelerator to $2 million.
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