Babson College in Wellesley, Massachusetts, has announced a $50 million gift from alumnus Arthur M. Blank ('63, H'98) and the Arthur M. Blank Family Foundation to establish the Arthur M. Blank School for Entrepreneurial Leadership.
The largest gift ever awarded by the foundation will support need-based scholarships designed to expand access to and the affordability of a Babson education; a dedicated "entrepreneurial village" where members of the Babson community can come together for collaborative learning and experimentation; increased access to Babson's entrepreneurial centers and institutes, including its co-curricular activities and global networks; and applied research aimed at advancing the understanding of entrepreneurship and addressing societal challenges. The gift will also establish and endow the Blank Chair in Values-Based Entrepreneurial Leadership.
"At Babson College, value creation is central to our mission," said Babson president Stephen Spinelli, Jr. "Leading by example, listening and collaborating, and giving back are the defining characteristics of great entrepreneurial leaders. Arthur Blank's principles exemplify Babson's belief that creating and stewarding sustainable economic and social value is an essential part of the relationship between business and society."
"The best companies provide world-class service to their customers and their communities," said Blank, who signed the Giving Pledge in 2012. "The next horizon of business education is equipping and connecting more entrepreneurial leaders who create solutions and growth by putting people first, leading by example, and giving back to others, especially those in need."