POTSDAM -- At its first Entrepreneur Recognition Dinner, Clarkson University honored three regional entrepreneurs with awards and inducted the inaugural member of its Alumni Entrepreneur Hall of Fame.

The Entrepreneur of the Year Award was presented to Peggy McAdam Cambridge, owner of Honey Dew Acres and Red Shed Tack Shop in Crary Mills. The award recognizes a practicing entrepreneur who demonstrates an unwavering commitment to building a small business, demonstrates a deep commitment to the community, and demonstrates each of the key characteristics of successful entrepreneurs.

In only four years, Cambridge has transformed Honey Dew Acres into an equestrian facility with a stable of over 70 horses and well over 100 weekly equestrian students. Cambridge recently received financing for a second larger indoor riding facility, and this spring she opened Red Shed Tack Shop.

The Entrepreneurial Hero Award was presented to Leigh Rodriguez, business development specialist for the St. Lawrence County Industrial Development Agency. This award is given to an individual or group that provides resources resulting in increasing the viability of entrepreneurs located in the communities served by the Center for Entrepreneurship.

Rodriquez consistently provides local entrepreneurs with creative and effective solutions, the awards panel said. In 2010, she secured $200,000 to create the St. Lawrence County Microenterprise Grant Program, which provided grant assistance to 10 microenterprise businesses in St. Lawrence County.

The Clarkson University Alumni Entrepreneur Hall of Fame was also initiated at the dinner, as Elmer Gates of Blue Mountain Lake was named the first inductee. Induction into the Hall of Fame is open to Clarkson University alumni and will recognize a lifetime of entrepreneurial achievement that encompasses the ideals of entrepreneurial activity -- education, application, and giving back.

Gates received his mechanical engineering degree from Clarkson in 1950. He worked for 31 years with General Electric before joining Fuller Company in 1982 as president and chief operating officer. After retirement from Fuller, he was instrumental in starting Embassy Bank for the Lehigh Valley and today serves as lead director of the board, after serving eight years as chairman. Several years ago, working with Clarkson, Gates began the pursuit of restoring economic life to the Adirondacks through the Adirondack Initiative.

Daegan Gonyer was honored with the Spirit of Entrepreneurship Award. The award is given to a student, faculty, staff member, office or organization at Clarkson that demonstrates a deep commitment to the Clarkson community and in addition demonstrates the key characteristics of successful entrepreneurs.

A 2009 Clarkson graduate who is now studying for a master's degree in engineering science, Gonyer, along with his two partners, created an aeroponics system for growing plants in air without the use of soil or an aggregate medium. They have established their own company -- Blue Sphere Industries Inc. -- and have plans for expansion.

Ellen Rocco, station manager of North Country Public Radio, was the dinner's keynote speaker.