Established by Michael '62 and Karen Herman to advance the interests of women in entrepreneurship, this fellowship supports women with a tuition scholarship to the Lally School MBA program at Rensselaer. Selection criteria include evidence of entrepreneurial spirit and experience, leadership potential, technical proficiency, post-college work experience, strong academic credentials, and U.S. citizenship. Evidence of actual entrepreneurial activity, such as starting a business in or after college, or working in a small to mid-size family business, will count favorably. Herman Award recipients also join the Herman Family Fellows, a network of professional women entrepreneurs, and have an opportunity to participate in yearly reunions.

The 2018 Herman Family Fellows reunion in Chicago, IL.