University of Dayton alumnus Ron McDaniel donated $1 million dollars to fund the launch of the "Flyer Angels" investors.

Angel groups are teams who contribute money to start-up companies and in turn have some ownership rights to that company. The panel is responsible for evaluating ventures and deciding whether or not to participate.

The "Flyer Angels" consists of UD entrepreneurship undergraduate students. Branches of other angel groups, which often are made up of individuals other than students, exist throughout the United States. UD's division is expected to launch in 2010.

"It [the $1 million dollar donation] will jumpstart our efforts to launch Flyer Angels, which will ultimately give our entrepreneurship students another unique hands-on experience," Dean McFarlin, chair of the Department of Management and Marketing and NCR Professor of Global Leadership Development said. "We hope it will also help us enhance our program and its reputation for giving students outstanding theory-to-practice opportunities."

UD's entrepreneurship major is one of the fastest growing in the country according to Teri Rizvi, assistant vice president for university communications. In 2008 Entrepreneur Magazine and The Princeton Review ranked UD's program the fourth best in the nation.

"Flyer Angels is a group of undergraduates working with other angel organizations in our region," Rizvi said. "This endowment is going to help set it [UD's entrepreneurship curriculum] apart more than it already is."

McFarlin spoke of McDaniel's interest in the program.

"He was very taken with our concept for Flyer Angels and how it could help take our program to another level, giving students an experiential window on entrepreneurship through the eyes of investors."

McDaniel, a 1969 graduate, is currently the owner of Western-Cullen-Hayes. Based in Chicago, the company manufactures railroad safety and signal equipment.

"I thought it would be a good way to contribute to something I felt very strongly about," said McDaniel, according to the Dayton Daily News.

His donation is hoped to spark the start of UD's Flyer Angels program.

"It will jumpstart our efforts to launch Flyer Angels, which will ultimately give our entrepreneurship students another unique hands-on experience, one that is offered by very few undergraduate programs in the country," McFarlin said.

McDaniel worked for a railroad track supply company in Richmond, Ind., and married at 19. He attended classes at Earlham College and then transferred to UD, where he commuted. He graduated at 30 with a degree in accounting.

For more information on how to get involved with the Flyer Angels or how their system works, check out their Web Site at www.udayton.edu/business.