It is with great sadness that we share that University of Pittsburgh Small Business Development Director, Raymond Vargo, passed away on Thursday, April 4, 2024, after a courageous nine-month battle with neuroendocrine cancer of the esophagus. He was 53. The IEE’s sincerest condolences go to his wife, Chris, and his four children, Nicholas, Luke, Joshua, and Mary.
Ray joined the Pitt SBDC, part of the Institute for Entrepreneurial Excellence, as a management consultant in 1995, hired by IEE founder Ann Dugan shortly after graduating from California University of Pennsylvania (MBA), and Penn State University (Accounting). Ann states: “Ray wanted to focus his career on helping entrepreneurs be successful with his smart, humble, and thoughtful approach with all he met. One can find in every corner of our region businesses that credit Ray having played an important role in their journey.” Ray was promoted to Pitt SBDC Director in 2007.
As director, Ray achieved numerous awards and accolades for his accomplishments in economic development, culminating with the Pitt SBDC being named #1 in the country by the SBA in 2020-2021 for its work during the pandemic, which led Ray to being named a “Pitt Staff Hero.” In Ray’s own words: “No matter if the University is open or closed, we found a way to address the needs of the small business community. The lives of so many individuals have been affected.” Several businesses that received assistance from Ray had received Pennsylvania’s “Business of the Year” award from the SBA, the highest possible honor. Eric Sauereisen, President of Sauereisen, Inc. and IEE board board member, credited Ray by saying: “Ray put us on the map in so many ways…he will be truly missed.” Sauereisen won SBA PA Exporter of the Year award in 2020 with Ray’s assistance.
Most recently, Ray was awarded SBDC Director of the Year in 2023 by the network of PA SBDCs, and under his direction the Pitt SBDC was named Regional Export Promotion Program (REPP) Member of the Year by the Export-Import (EXIM) Bank of the United States.
Personally, I have never seen a man more dedicated to his work. In his tenure at the University, Ray worked with more than 20,000 businesses across western Pennsylvania. The economic impact he provided was unfathomable. Not only was he a colleague, but he was a dear friend and mentor to not only myself, but also to others inside and outside of the University, including hundreds of Pitt students as interns throughout his tenure. It was a true honor to work with someone so inspirational to the mission of our organization. As IEE Board member John Earnest stated: “It is hard to find the correct words for Ray. A good man fits, but does not convey the total of who Ray is.”
The best summary of Ray’s purpose is in his own words, for which I will leave you: “It’s become my passion; there’s nothing more rewarding than to help a business owner. I’m so proud of the effort and so honored to have the team that I do have.”
Robert Stein
Executive Director,
Institute for Entrepreneurial Excellence
University of Pittsburgh
The University of Pittsburgh will be providing tuition at no-cost to Ray’s two sons, Joshua and Luke, who are currently at Pitt, and his daughter, Mary, if she should attend the University. His son, Nicholas, graduated from Pitt in 2023.
A GoFundMe has been set up to support the family. You can find the page here: https://www.gofundme.com/f/stay-strong-vargo-family.
