Babson College Tops Off Babson Rising Campaign at $216+ Million

Babson College’s historic Babson Rising campaign has raised more than $216 million dollars; $5 million John E. and Alice L. Butler Endowment Fund to Support Babson Venture Accelerator Program

(Babson Park, MA)January 18, 2012 — Babson College’s historic Babson Rising campaign has raised more than $216 million dollars, completing a multiyear effort that is supporting the development of academic and research activities, providing scholarships to deserving students, supporting programs that advance Babson’s mission, and strengthening Babson’s renowned entrepreneurship-infused curricular and co-curricular offerings.  More than 17,500 alumni, faculty, staff, students, parents, friends, and organizations contributed their support to help Babson’s mission to educate entrepreneurs of all kinds.

Last fall, with the help of two anonymous bequests totaling $58.7 million, Babson announced that the Babson Rising campaign had raised over $200 million; successfully exceeding its fundraising goal nearly three months before the campaign’s scheduled closing date.  At an event in late September 2011, Babson President Len Schlesinger announced the campaign news and, in typical Babson style, challenged the community to bring the campaign total to $215 million to advance four priorities: the Center for Women’s Leadership, the Coaching for Leadership and Teamwork Program, Financial Aid, and Living and Learning Entrepreneurially.

The campaign, the largest and most successful fundraising drive in the history of the College, finished with a flourish – exceeding the ambitious goal and raising a total of $216 million.

“My deepest thanks go out to the entire Babson Community for their tireless support of our mission to educate entrepreneurial leaders who create economic and social value everywhere,” said Babson President Len Schlesinger. “Thanks to their generosity, and the exceptional leadership of Babson Rising campaign chairman, Bob Weissman, Babson is strongly positioned to expand and enhance efforts to attract great faculty and students, provide the most current learning materials, offer a living and learning environment, and, ultimately, make a lasting impact on the world.”

A highlight of the triumphant close of the Campaign is the establishment of the $5 million John E. and Alice L. Butler Endowment Fund to support the Babson Venture Accelerator Program. Babson’s Accelerator, renamed John E. and Alice L. Butler Babson Venture Accelerator Program, is a comprehensive co-curricular program for student entrepreneurs which supports and advances student ventures in each phase of their business development – from opportunity exploration and pursuit with an action plan to the ultimate launch.

The funds raised through Babson Rising already have made an impact by allowing Babson to:

  • Increase scholarships and fellowship programs to ensure the most talented students are able to attend Babson and extend what they learn here at Babson to enhance their careers and maximize their impact on the world. In fact, endowed scholarships have increased by more than 25 percent. Babson Rising helped facilitate:
    • 19 Weissman Scholars defining their vision for Babson and the world;
    • The Kronospan Scholarship Program, the first non-US, need-based full undergraduate scholarship;
    • The Tzedakah Scholarship, an anonymous scholarship beginning in fall 2012 providing need-based financial assistance, including four years of full tuition, room and board, to a deserving undergraduate student;
    • The Enrico Dallas Scholarship Fund for undergraduates from the Dallas, Texas public schools;
    • The Rick and Sandy Sorenson Endowed Scholarships for the Arts for students potentially combining artistic endeavors with a management education;
    • The Rick and Sandy Sorenson Visiting Artists Program, a semester-long artist in residence program; and,
    • The Fischer Family Fellowship, which supports full-time MBA students.
  • Increase faculty endowed chairs by 22%.
  • Support a key annual survey of online education in the U.S. through the Alfred P. Sloan Foundation grant.
  • Support for the Stephen D. Cutler Center for Investments and Finance thanks to Mr. and Mrs. Stephen D. Cutler and Mr. and Mrs. Carleton F. Kilmer.
  • Support global programs and initiatives, including:
    • The Global Consortium for Entrepreneurship Educators, a catalyst and convener for entrepreneurship education throughout the world;
    • The Babson Rwanda Entrepreneurship Centre;
    • The Journey West: Babson’s Global Forum, Shanghai, China, in which Babson leaders and influential Chinese business professionals, scholars, and government officials discuss economic and social value creation;
    • The Banco de Chile-Babson Symposium for Entrepreneurship Educators; and,
    • The creation of a Global Advisory Board
  • Fund Babson’s critical work around social innovation, including the following initiatives:
    • Creating the new Social Innovation Lab within the Lewis Institute for Social Innovation. The Lewis Institute was founded in 2010 with a generous gift from Alan and Harriet Lewis;
    • Funding Giving Voice to Values, an innovative, cross-disciplinary business curriculum and action-oriented pedagogical approach for developing the skills, knowledge and commitment required to implement values-based leadership;
    • Launching the Demiroren-Oktay Family Tri-Campus Sustainability Fund, which supports Wellesley, Olin, and Babson Colleges joint program integrating business, engineering, and the liberal arts in the service of environmental sustainability, providing students with the cross‐disciplinary academic preparation and the cross‐campus cultural collaboration experiences needed to approach environmental issues holistically; and,
    • Supporting Food Sol, an “action tank” catalyzing triple-bottom-line food-system innovation.
  • Dedicate additional resources to key athletics areas and initiatives, including the renovation of and/or improvements to the Hall of Fame, the Peterson Study Center, the varsity strength and conditioning center, and the coaches’ Recruitment Management System.
  • Dedicate resources through the Barefoot Student Life Initiative Fund to enhance undergraduate and graduate student life programs, such as special interest communities (eTower, Green Tower, and Philanthropy Tower.)
  • Support classroom technology enhancements thanks to the James B. Malloy Technology Fund.
  • Create a new Parents Executive Committee.
  • Enhance outdoor and social spaces on campus such as Barefoot Park, Lorber Park and Mandell Family Hall.
  • Bring the nationally acclaimed Lemonade Day program to Boston.  Through Lemonade Day Boston, Babson and the City of Boston are providing hundreds of Boston youth the opportunity to learn first-hand about entrepreneurship, build business skills and confidence and more.
  • Hold a Summer Venture Program through which student entrepreneurs at Babson are provided work space, mentors, speakers, resources, and a demo day at the conclusion to present to professional investors.
  • Fund the making of The Apple Pushers documentary, written and directed by Mary Mazzio, narrated by Edward Norton, and underwritten by the Laurie M. Tisch Illumination Fund.

About Babson

Babson College is the educator, convener, and thought leader for Entrepreneurship of All Kinds™. The College is a dynamic living and learning laboratory, where students, faculty, and staff work together to address the real-world problems of business and society -- while at the same time evolving our methods and advancing our programs. We shape the leaders our world needs most: those with strong functional knowledge and the skills and vision to navigate change, accommodate ambiguity, surmount complexity, and motivate teams in a common purpose to create economic and social value. As we have for nearly a half-century, Babson continues to advance Entrepreneurial Thought and Action® as the most positive force on the planet for generating sustainable economic and social value. For information, visit www.babson.edu. ​

By Michael Chmura | 1/18/2012 10:00 AM