MERCER COUNTY

Joseph Delaney has made educated bets before, but this time the Sharon businessman said there's no way he can lose.

The owner of Eastern Software has committed $10,000 for a scholarship to Edward Likovich, this year's top honoree in The Herald's Academic Excellence Awards. Likovich, the Hickory High School valedictorian, was among 15 area graduating seniors honored at the eighth annual event in May.

Delaney also said he's pledging more funds over the next four years for scholarships under the program. Details are expected to be finalized in the upcoming weeks.

"I believe the key in having economic growth is to invest in intellectual capital,'' Delaney said. "We need to reward those who have achieved academically and let them know there's opportunities here locally.''

After learning there was no funding for the program this year, Delaney said he felt Likovich should be rewarded.

"I really want people to start looking at this,'' Delaney said. "It's important to invest in our young people. The money spent on education in this valley vs. everything else is mind-boggling. There's awards for the volleyball player of the year but little for people who achieve scholastically.''

In two years Delaney has given $50,000 in scholarships to area high school and college students. Empower! Scholarships, named after Eastern Software's flagship software product, went to students studying computer science. Funds previously given for that program will be earmarked for The Herald's Academic Excellence Awards.

"Unbelievably, I had a hard time giving away Empower! Scholarships at the college level,'' Delaney said. He added The Herald's scholarship program will continue to reward students based on scholastic achievement and financial need.

"Education is a worthwhile thing,'' he said.

Located in downtown Sharon, Eastern Software was created by Delaney in 1984. The company's top-selling product. Empower!, is software designed for the nation's top 400 financial lending institutions to process loans. With a satellite office in Newport Beach, Calif., Eastern Software has added 15 employees since January and now employs 67, most inmain Sharon office.

Likovich is bound for Harvard University this fall and plans to major in physics and political science. The 18-year-old is a son of Edward R. and Jean P. Likovich of Hermitage.