Editor's Note: The University of Iowa John Pappajohn Entrepreneurial Center (Iowa JPEC) will hold its Advisory Board meeting Oct. 17. Take a look at the current board members HERE.
It started with a piece of paper in a Chicago hotel hallway. Dick Ferguson bent down and what he picked up that day—an American College Testing (ACT) quarterly newsletter—didn’t just change his path, it helped ACT shape the future of education in Iowa and the country.
“Bizarre” is how Ferguson explained what happened next. Fresh off completing his PhD thesis on computer adaptive testing in 1969, Ferguson attended an educational research conference in Chicago in the spring of 1972. While walking through the Palmer House Hilton Hotel, he kicked the discarded copy of the ACT newsletter. On the front page was an article about someone at ACT doing research remarkably like his own. The newsletter included a phone number. Ferguson made a call, and by the next day, he was on a plane to Iowa. The director of research knew his work and offered him a job on the spot. Just like that, a random hallway encounter launched a decades-long career with ACT.
“I had never been across the Mississippi River in my life until then,” Ferguson said. “I wasn’t at all familiar with ACT as I grew up in Pennsylvania and graduated from high school before the company was founded. The individual who wrote the article in the ACT newsletter was the author of one of the textbooks I used in my PhD program [at the University of Pittsburgh]. That connection added to my interest in visiting and eventually joining ACT.”
Ferguson spent 38 years employed at ACT, the last 22 as CEO and chairman (he retired in 2010). While at ACT, Ferguson fostered a friendship with the University of Iowa, a personal friendship that remains today. In 2012, he received a Friend of the University Award. Ferguson is also a member of the University of Iowa Foundation’s Presidents Club and in Lindquist Hall, there is the Dr. Richard L. Ferguson Iowa Technology Enhanced Classroom. Reflecting his continued commitment to innovation and entrepreneurship, Ferguson now serves on the University of Iowa John Pappajohn Entrepreneurial Center (Iowa JPEC) Advisory Board.
“Iowa JPEC is uniquely positioned to help young entrepreneurs achieve their dreams,” Ferguson said. “By providing comprehensive support for startups in their initial years, it increases their prospects for becoming sustainable and eventually successful.”
Ferguson grew up in a town about 100 miles north of Pittsburgh and received a bachelor’s degree in mathematics in 1962 from Indiana University of Pennsylvania. After earning a master’s degree in mathematics from Western Michigan in 1966, Ferguson returned to Pennsylvania and, in 1969, earned a Doctor of Philosophy degree in educational assessment, evaluation, and research from the University of Pittsburgh. When Ferguson arrived at ACT in 1972, the company had one building and between 40-50 employees. When he retired, the company had a large campus in Iowa City and more than 1,500 employees in the United States and abroad.
“ACT was founded by senior educators at the University of Iowa,” Ferguson said. “ACT has always had a special relationship with the University of Iowa and its staff. That relationship included ACT support for research assistantships for students enrolled at the university. And, on ACT’s 50th anniversary, I arranged for a $5 million gift to the university to be used for scholarships for graduate students, particularly those underrepresented in graduate programs.”
Following his retirement from ACT, Ferguson became active in helping young entrepreneurs, mentoring and serving as board chair for a substantial number of startups. Because of his reputation and expertise, he continues to be sought after by individuals and companies that seek his counsel and help.
“There is a network of individuals, many of them at universities around the country, that is a source of referrals for people who need and would like help,” Ferguson said. “Happily, all the companies that I have had the privilege of working with have experienced and enjoyed success. Those experiences have worked well for me and have generated my interest and openness to serving on the Iowa JPEC board. I was acquainted with John [Pappajohn] and admired him and the impact he had via his support for the founding of JPEC. Joining its board was an easy decision for me.”
Ferguson was on the board of directors at Iowa JPEC alumni business Higher Learning Technologies for more than nine years and served as chairman of the board for Iowa JPEC alumni business Open Loop Health. He is also cofounder and board chairman of Intellisee, a technology firm focused on safety and security.