When Jamey Phipps graduated with his MBA in 1985, he told himself he'd circle back and do something for the school that had done so much for him. He started a market research company. He didn't have any money, so he offered the school his time, speaking about his experiences as a young entrepreneur. When his company got successful—a merger, growth from 6 to 82 employees—he funded a fellowship in the name of Arun K. Jain, the professor who taught him how to get where he is today: president of Gelia Inc. in Williamsville, N.Y.