INSEAD announces record gift of €10 million from MBA alumnus
The single largest gift received from an individual donor and an alumnus is set to boost entrepreneurship at INSEAD
Middle East, Asia, Europe
03 April 2017
INSEAD, the business school for the world, today announced that it has received €10 million in endowed funds from an alumnus to promote academic excellence in entrepreneurship. This is a record in the school’s history, being the single largest gift received from an individual donor and an alumnus.
The €10 million endowed fund will significantly strengthen the academic excellence that constitutes the foundation of INSEAD. The yield from this endowed gift will be invested to establish several academic positions and PhD scholarships, all dedicated to strengthening research, teaching and cultivating talent in the area of entrepreneurship.
The gift comes from an alumnus who is a longstanding supporter of the school. With this latest gift, his total contribution to INSEAD amounts to more than €20 million.
Ilian Mihov, INSEAD Dean and Professor of Economics, said: “On behalf of the entire INSEAD community, I would like to extend my gratitude to our donor for his exceptional financial support and confidence in INSEAD.” He added, “This generous gift will transform the entrepreneurial ecosystem at INSEAD as well as inspire and empower faculty, entrepreneurs, students and alumni around the globe.”
As an independent business school, INSEAD’s financial foundation is boosted by the strength of its endowment which offers a stable source of funding for the school’s academic pursuits and sustainable progress.
“I believe that our alumni play a crucial role in INSEAD’s next chapter and that it’s our responsibility to give back to the school to secure its success,” said Andreas Jacobs, MBA’90D, Chairman of the INSEAD Board of Directors and Member of the Board of Jacobs Holding AG. “On behalf of the Board, I would like to thank our donor for demonstrating his trust in the strategic direction that the Board and our Dean are taking the school.”
The donor said: “INSEAD changed my life for the better. I want INSEAD to continue to excel in everything it does and to support it as an independent institution which needs donations from its alumni. As an entrepreneur myself, it is only natural that we support this strategic area and invest in future generations of INSEAD entrepreneurs.”
This momentous gift will drive the school’s capabilities to attract and develop the best faculty, enhance its research capacity and draw the best academic talent. All of this will contribute to supporting the school’s core pillar of academic excellence and ensuring that it remains at the forefront in the field of entrepreneurship.
About INSEAD, The Business School for the World
As one of the world's leading and largest graduate business schools, INSEAD brings together people, cultures and ideas to change lives and to transform organisations. A global perspective and cultural diversity are reflected in all aspects of our research and teaching.
With campuses in Europe (France), Asia (Singapore) and the Middle East (Abu Dhabi), INSEAD's business education and research spans three continents. The school's 145 renowned Faculty members from 40 countries inspire more than 1,400 degree participants annually in its MBA, Executive MBA, Executive Master in Finance, Executive Master in Consulting and Coaching for Change and PhD programmes. In addition, more than 11,000 executives participate in INSEAD's executive education programmes each year.
In addition to INSEAD's programmes on its three campuses, INSEAD participates in academic partnerships with the Wharton School of the University of Pennsylvania (Philadelphia & San Francisco); the Kellogg School of Management at Northwestern University near Chicago; the Johns Hopkins University/SAIS in Washington DC and the Teachers College at Columbia University in New York; and MIT Sloan School of Management in Cambridge, Massachusetts. In Asia, INSEAD partners with School of Economics and Management at Tsinghua University in Beijing, and China Europe International Business School (CEIBS) in Shanghai. INSEAD is a founding member in the multidisciplinary Sorbonne University created in 2012, and also partners with Fundação Dom Cabral in Brazil.
INSEAD became a pioneer of international business education with the graduation of the first MBA class on the Fontainebleau campus in Europe in 1960. In 2000, INSEAD opened its Asia campus in Singapore. And in 2007 the school began an association in the Middle East, officially opening the Abu Dhabi campus in 2010.
Around the world and over the decades, INSEAD continues to conduct cutting edge research and to innovate across all its programmes to provide business leaders with the knowledge and sensitivity to operate anywhere. These core values have enabled INSEAD to become truly "The Business School for the World".
INSEAD’s MBA programme is ranked #1 by the Financial Times in 2016 and 2017.
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