Spring 2009

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Alum Uses Experience to Color Future of Emerging Entrepreneurs

Underwood had this 1926 International fire engine restored to use for tailgating at Iowa State. The license plate – ISU TKE – shows his fraternity affiliation.

As an Iowa State student, Roger Underwood knew he wanted to be his own boss. He wasn’t sure how or in what business, but felt he would recognize when opportunity knocked.

That opportunity came after graduation when Underwood (’80 agricultural business) was working in Minnesota for an agrichemical distributor. He encountered farmers who were starting to use Roundup in their operations. The herbicide was expensive and many producers wondered how they could use it more efficiently with spot applications.

“In hearing some growers talk about how they couldn’t see where they sprayed Roundup, it just kind of hit me: ‘Well, why not develop a colorant that you could put in the Roundup so you can see where you sprayed it,’” Underwood says.

He called up Jeff Becker, a friend since preschool, and told him he had an idea and if they moved fast they could develop a product and market it. In its first year in business (1983), Becker-Underwood registered sales of $43,560.

Today it is a $130 million international specialty chemical company providing products to the agricultural, seed treatment, golf, horticulture, forestry and aquatic markets. After 23 years as CEO, Underwood stepped down from the daily operations in January 2006 after he and Becker sold controlling interest in the firm.

Although Underwood is no longer involved in the day-today operations of Becker-Underwood, he is confident of its future because of the “entrepreneurship culture” of the management and employees, which includes 36 Iowa Staters.

Agriculture and entrepreneurship are still the focus of his endeavors. Underwood, Becker and partners in Riverwood Management, LLC have invested in about 10 small, privately held agribusinesses around the country. Underwood says he understands the agricultural part of the businesses, gets to act as a mentor with the management and “create value in agriculture.”

Underwood provided the founding gift for the Agricultural Entrepreneurship Initiative in the College of Agriculture and Life Sciences because he says he wants to nurture the spirit of entrepreneurship in rural America and pass it on to another generation. He continues to advise the initiative and speak to classes.

“I made a commitment to myself and Iowa State to make it the number one ag entrepreneurship program in the country,” Underwood says.

Underwood also serves as chairman of Campaign Iowa State: With Pride and Purpose – the Iowa State University Foundation’s $800 million fundraising endeavor. “I really enjoy meeting the alumni, donors and friends of Iowa State, especially when we’re helping them craft a gift that can help to take Iowa State to a new height,” he says.

He thinks so much of Iowa State that he is entrusting it with the education of his sons: Andrew, a sophomore studying management information systems, and William, a high school senior who plans to enroll in agricultural business.

“I came to Iowa State as this wide-eyed, small-town boy who thought I wanted to be in agriculture the rest of my life. Not only did I learn on campus, but I also learned in my fraternity, my clubs and other activities. I feel I owe Iowa State some of the leadership that I was afforded by so many people and I want to be a part of the group giving back to students,” he says.

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