This paper describes an undergraduate research program with a strong software engineering component that has been in place at Illinois Institute of Technology for the last several years. The program model is applicable to a variety of educational institutions, and can serve as a powerful tool for preparing undergraduates to become effective leaders in industry and academia. Success metrics include: the high percentages of participants (including a substantial number of women and minority students) who have enrolled in graduate school, obtained software engineering positions with industry leaders, and co-authored published research papers. We report on the program and its mechanisms for leadership skill development. We also discuss the software engineering component of the program, the impact of the program on software engineering education in our department, and the effects of the program on student development and career goals.