Babson Academy Impact Report 2022

BABSON ACADEMY

Letter from the Dean

Powering a Better World with Entrepreneurship Education

With the collaboration of educators, administrators, students, and philanthropists from around the world, and the dedication of our faculty and staff, the Academy for the Advancement of Global Entrepreneurial Learning convenes institutions to advance entrepreneurship education on a global scale.

The power of our community, which is based around multilateral strategic partnerships benefiting thousands of stakeholders, has now been recognized with the prestigious 2022 IIE Andrew Heiskell Award for Innovation in International Education in the category of Strategic Partnerships for the Babson Collaborative. Congratulations to all Collaborative member institutions for this recognition!

This 2022 report captures our year of engagements with 262 educators in 43 countries—benefiting thousands of learners. Each year, we see the increased value of these partnerships and the positive impact they have on students, academics, and local communities.

It’s been a pleasure to welcome colleagues back to Babson College’s campus. Still, considering the sustained challenges of international mobility, this year we introduced a new virtual program to engage educators in East Asia, focusing on pedagogical approaches to entrepreneurship education. Additionally, we welcomed new Babson Collaborative members in Asia, expanding our diversity.

It is remarkable that while Babson College initiated connections, our constituents from across the globe help shape the agenda within their own contexts—collaboration at its best.

Babson’s unified aim of creating a community of entrepreneurial leaders who are responsible global citizens drives us. Let’s celebrate the achievements of our peers as we continue our collaborative advancement of global entrepreneurial learning in 2023 and beyond. We hope you enjoy this report as we look back together on how the Babson Academy has made good on its mission to expand access, create connections, and inspire future generations—and each other.

Best wishes,

2022 FACULTY DIRECTORS

Heidi Neck

Jeffry A. Timmons Professor of Entrepreneurial Studies and Babson Academy Academic Director

Candida Brush

F.W. Olin Distinguished Professor of Entrepreneurship

Andrew Corbett

Paul T. Babson Distinguished Professor of Entrepreneurial Studies

Eliana Crosina Assistant Professor of Entrepreneurship

Bradley George Associate Professor, Entrepreneurship

Phil Kim

Lewis Family Distinguished Professor in Social Innovation

Jay Rao Professor of Operations and Information Management

Amir Reza, PhD Dean, Babson Academy & Global Education

Mark Rice Professor of Entrepreneurship

Andrew Zacharakis

John H. Muller Jr. Professor of Entrepreneurial Studies

This year, we continued to increase access to our programs, community, and resources, engaging with 262 educators in 43 countries.

Amplifying Impact in 2022

27 Total Programs

262 Educators

707 Students

institutions

countries:

Increasing International Diversity 43 Total Countries ACCESS Indonesia 3

23 Custom Programs in 2022

LONG-TERM RESULTS IN CHILE WITH THE LUKSIC SCHOLARS FOUNDATION

Thanks to the incredible support of the Luksic Scholars Foundation, over the past 16 years we have carried out 15 Luksic-Babson Symposia for Entrepreneurship Educators (SEE), seven Luksic-Babson Fellows programs, and two topic-specific workshops, reaching 708 select Chilean faculty. Originally sponsored by Banco de Chile, the suite of programs has fostered a wider understanding of entrepreneurial growth and economic development in Chile through entrepreneurship education. We are proud to play an integral part in leading the entrepreneurial transformation in Chilean colleges and universities.

EXPANDING COLLABORATIONS IN EAST ASIA

The Babson Academy plays an ongoing and varied role in supporting entrepreneurship education across East Asia. In 2022, we deepened existing partnerships and added new ones.

Strengthening the Entrepreneurship Education and Venture Development Ecosystem in Japan

Kyushu Global Symposium for Entrepreneurship Educators

The Japanese Ministry of Education, Culture, Sports, Science, and Technology (MEXT) is supporting a multiyear initiative to grow the entrepreneurship education and venture development ecosystem in Japan. Thanks to the regional leadership roles played by Kyushu University and Babson Collaborative member Waseda University, 80 educators at 38 institutions completed the Babson Academy’s foundational Symposium for Entrepreneurship Educators, with plans for a return to Kyushu University in early 2023.

I learned a lot. It was wonderful to network with people who are interested in entrepreneurship education in Japan. Also, listening to Professor Zach and Professor Yasu’s passion-filled classes made me want to work harder myself. … Please find sponsors to let this program continue at least for a decade.”

—Participant

The Babson Academy’s foundational virtual symposium for Kyushu Global SEE

As a former competitive athlete, I envisioned how I may incorporate experiential learning and sports’ teachable moments to improve the stickiness of entrepreneurship concepts. With the SEE, it is evident how Babson imparts a learnercentered approach: empowering students to discover who they are and what they value, and then propelling them to action by accessing their immediate environment for ideas, networks, and resources.

"Their rock star roster of faculty hand-holds you through the entire cycle of teaching venture creation, which culminates in the students’ capstone practicum. And hearing our professors having ‘been there and done that’ in entrepreneurship pedagogy was the most reassuring of all. Truly, the Babson SEE is an educator training like no other.”

New Babson Collaborative Members for Wider Networks and Resources

Universiti Brunei Darussalam (Brunei) and Universitas Sumatera Utara (Indonesia) joined regional members Bangkok University (Thailand), ShanghaiTech University (China), and Waseda University (Japan).

Studio for Entrepreneurship Educators Asia to Build Entrepreneurial Mindsets

SEE Asia brought together educators from seven universities spanning Brunei, China, Indonesia, Japan, the Philippines, Singapore, and Thailand to learn how to cultivate an entrepreneurial mindset within their students using actionbased teaching pedagogies.

Strengthening Master’s Level Entrepreneurship at Singapore Management University

Master’s students at Singapore Management University spent a week in residence at Babson for their custom entrepreneurship module, offered since 2010.

Increasing Undergraduate Access at SolBridge International School of Business and ShanghaiTech University

Geraldine Go-Bernardo Lecturer, Department of Management and Organization De La Salle University, Ramon

V. Del Rosario College of Business (Philippines) Founder, SWEEP for Women in Sports

Introductory online program, Entrepreneurial Mindset, was popular with groups of undergraduate students from SolBridge International School of Business (South Korea) and ShanghaiTech University (China).

EMPOWERING HIGHER ED LEADERS IN ROMANIA TO ENRICH ENTREPRENEURIAL ECOSYSTEMS

In partnership with the Romanian-American Foundation, the Babson Academy worked with senior academic leaders and faculty during two programs in Bucharest to empower participants with training and tools to strengthen their teaching capabilities and university-based entrepreneurship ecosystems. The programs received additional support from key local industry sponsors.

Partnering with Babson College sends a clear message of the value Universities maintain within their ecosystems. The resounding enthusiasm from senior leadership and faculty after their experience with Babson College will certainly lead to new educational opportunities for students in the years to come. And these new educational opportunities are important for us all, as well as for the country at large.”

Symposium for Entrepreneurship Educators (SEE Romania)

SEE Romania brought together 40 Romanian faculty from across 15 institutions for a dynamic 3.5-day program designed to foster economic development and social value at the institutional, regional, and national level by preparing educators to teach with an entrepreneurial mindset.

Participant Experience

“Very good introduction into feeling like an entrepreneur and encouraging this mindset in students. I will apply all techniques in my class.”

“I can’t wait to go back to my university to share what I have learned here. You rock!”

“I’m glad that I had the chance to meet extraordinary people and change my way of seeing things.”

—Roxana Vitan President RomanianAmerican Foundation

Success in Entrepreneurship Ecosystem Development (SEED Romania)

During the high-impact three-day SEED Romania program, 39 senior administrators from seven universities across the country came together, collaborated, and applied a shared focus around advancing local and regional economies and supporting entrepreneurship education at the university level by preparing educators to teach with an entrepreneurial mindset.

Participant Experience

“The university should educate a critical mass of members aware of the importance of the entrepreneurship dimension for a sustainable evolution.”

“Excellent experience to negotiate my way in an unfamiliar network.”

“I learned very insightful new information about my colleagues’ work in the university and also about the other universities. As a plus, I must mention that the professor has great teaching skills and is a true pleasure to listen to.”

Hands-on entrepreneurship learning in action at Price-Babson SEE.

CONNECT

The Babson Academy creates opportunities to connect and build a better world through entrepreneurship education. 2 022 R E

BABSON COLLABORATIVE FOR ENTREPRENEURSHIP EDUCATION FOSTERS COMMUNITY

The Babson Collaborative is an award-winning institutional membership organization of the Babson Academy, advancing entrepreneurship ecosystems and connecting universities around the world. The Collaborative connects institutions with pedagogical best practices and thought leadership from Babson College and a global network of peers from other member institutions.

CIPIEN T

I love the spirit and forward progress of the Collaborative. My team and I love how strong, vibrant, and engaged it is. It is also young, and there is so much potential it can realize. You have created an amazing and unique program that is unusual for higher ed. It has a ‘generosity’ quality that you don’t often see.”

—Chrys Hutchings Associate Director, Bates Center for Entrepreneurship and Leadership Lewis & Clark College (USA)

Welcoming Our New Member Institutions

OUR COMMUNITY IN 2022

MEMBER SCHOOLS

Our Collaborative Circle of Influence Members

The Babson Collaborative Circle of Influence celebrates a member institution’s longevity in the Collaborative, and their demonstrated engagement, impact, and leadership, with an elevated level of membership. Collaborative members enter the Circle after six years of membership.

Welcoming to the Circle of Influence in 2022:

Tecnológico de Monterrey (Mexico)

Universidad del Desarrollo (Chile)

Universidad de Guadalajara (Mexico)

NEW MEMBERS COUNTRIES

Like-minded people and institutions should work together, because entrepreneurship is so important. One institution alone can’t have all the answers. The Babson Collaborative is a phenomenal think-tank for entrepreneurial universities from many countries. Tecnológico de Monterrey is constantly looking for new and better ways to embed entrepreneurship in people, educational processes, and ecosystem development, and the remarkable experiences, practices, and reflections of the Collaborative partner institutions have been an inspiration and example for many of our activities. Both as intellectuals and actors, we all need these symbiotic collaborations to truly achieve our objectives.”

—José Manuel Aguirre Guillén Instituto de Emprendimiento Eugenio Garza Lagüera Tecnologico de Monterrey (Mexico) Circle of Influence Member

NEW VISITING SCHOLAR INITIATIVE

We had our very first Babson Collaborative Visiting Scholar in 2022. Going forward, two educators from Babson Collaborative member schools will be invited to join Babson College as visiting scholars each year. Scholars build cross-school collaboration among faculty that results in academic research, case writing, and other scholarship.

2022 Babson Collaborative Visiting Scholar

—Dr. Colin Donaldson Entrepreneurship Dept. Head EDEM

Business School (Spain)

At Babson I had the pleasure to interact with many great minds and thought leaders, gaining firsthand experience of how Babson student entrepreneurs act, learn, and build within their amazing Summer Venture Program.”

Context and entrepreneurial identity forms the basis of the research project that Dr. Donaldson developed alongside Heidi Neck, Eliana Crosina, and other Babson faculty over six months. The researchers found that building identity is an important part of allowing students to be more entrepreneurial.

COLLABORATIVE GLOBAL STUDENT CHALLENGE

Participation in the 2022 Challenge

Bachelor’s Challenge Winners ST PLACE 1 MIIDO Universidad del Desarrollo, Chile 2 ND PLACE

RD PLACE 3 (tie)

2022 Challenge Winners Master’s Challenge Winners ST PLACE 1 ACOUSTIC DESIGN Norwegian University of Science and Technology, Norway

UPCYCLE WHAT YOU THROW AWAY Holy Spirit University of Kaslik, Lebanon SALVUS TBS Education, France SUBCLEANSE Nord University, Norway

ND PLACE 2 (tie)

EAE Business School, Spain VASSIE EAE Business School, Spain

1,217 COLLABORATIVE MEMBER INSTITUTIONS

STUDENTS

25 FROM COUNTRIES

356

17 IN PROJECTS ADDRESSING THE UN SDGS

Five-Year Impact

3,400 STUDENTS

29 MEMBER UNIVERSITIES

900 NEW BUSINESS CONCEPTS ADDRESSING UN SDGS

12

Connecting

BABSON BUILD 2022

institutions 25 countries across 15 students in 210

Celebrating a return to in-person learning and welcoming students back as they start to re-engage on the Babson campus to learn, connect, and grow.

Babson Build is an experiential program designed to help university students think and act entrepreneurially. In 2022, we saw schools’ resurging interest in offering in-person international experiences to their students, as institutions from around the world tapped into Babson’s distinctive entrepreneurship content. We welcomed 127 graduate participants and 83 undergraduate participants to campus for one-to two-week sessions.

I really loved the experience! All the professors are amazing motivators.”

—Participant

THE ROLE OF ENTREPRENEURSHIP EDUCATION IN THE FUTURE OF HIGHER EDUCATION

The 2022 Summit explored entrepreneurship education in a post-pandemic world through critical themes including entrepreneurial pedagogy, growth and assessment of the university entrepreneurship ecosystems, and the urgent need to equip our students to think and act entrepreneurially under conditions of extreme uncertainty.

15 SPEAKERS

7 SESSIONS

3 DAYS VIRTUAL FORMAT

Thanks to the Global Summit, we have made a connection with another member school, Universidad del Desarrollo, sharing some insights and learning that we’re quite similar. We are even planning a visit to Chile in September! Thank you for creating scenarios that make this type of relationship and exchange possible.”

—María Alejandra Correa Entrepreneurship School Coordinator, Universidad del Rosario (Colombia)

INSPIRE

We’ve found inspiration as we share best practices and put Entrepreneurial Thought & Action®(ET&A™) into practice as educators.

TBS EDUCATION FACULTY AND BABSON COLLABORATIVE MEMBER LEADS AND INSPIRES

Christina Theodoraki, Professor of Strategy, Entrepreneurship, and Innovation at TBS Education in France, inspires us year after year.

Christina was awarded the 2021 Babson Collaborative Member of the Year for her leadership of the Babson Collaborative Research Group in Entrepreneurial Ecosystems. She also co-authored a chapter in the inaugural Collaborative book, Innovation in Global Entrepreneurship Education, is actively engaged as one of three co-authors for the second Collaborative book, Ideation in Entrepreneurship Education (forthcoming 2024), has made valuable contributions to our academic content library, and is constantly sharing resources and opportunities in our WhatsApp community. Christina is one of our most active and engaged members—a true leader.

The Babson Collaborative is a family that provides a safe and inspiring environment in order to engage entrepreneurship educators all over the world, share thoughts and best practices, and build the entrepreneurship education ecosystem of the future.”

—Christina

TBS Education (France) Collaborative member

Theodoraki

BABSON

ACADEMY PROGRAM PARTICIPANT GOES ON TO LAUNCH INNOVATION HUB AT THE COLLEGE OF STATEN ISLAND

Heidi Bertels, Associate Professor of Management at The College of Staten Island (CSI), completed both the Price-Babson Symposium for Entrepreneurship Educators and Building an Entrepreneurship Education Ecosystem. She then went on to leverage her knowledge to establish the Blackstone LaunchPad at CSI, where she is now Campus Co-Director.

—Heidi Bertels Associate Professor of Management Blackstone LaunchPad Campus Co-Director The College of Staten Island (USA)

Blackstone provides a hub of opportunities for students who are pursuing ideas, projects, businesses, and an entrepreneurial spirit. This hub connects students to a global network that believes in the support of creativity and learning by doing.

The course on Building an Entrepreneurship Education Ecosystem helped us better understand that entrepreneurship education isn’t just about offering courses. To support the students, you need so much more than that. It helped us put that into perspective and made us realize that isolated coursework is just not enough. We used some of that terminology and understanding in our final Blackstone LaunchPad application. Becoming part of the Blackstone LaunchPad network then helped us build that ecosystem in an accelerated fashion.

"I really loved the Price-Babson SEE because it was very energetic and practical. I also enjoyed meeting people from all over with similar interests, and that the cohort was composed of a mix of faculty and staff (not just faculty).”

SHARING THE POWER OF ENTREPRENEURSHIP WITH YOUR STUDENTS

Price-Babson participant Angel Cottrell, Program Manager of the Entrepreneurship Resource Centers (ERC) of Kern High School District in California, USA, incorporated takeaways from Price-Babson at the ERC’s inaugural Youth Entrepreneurship Education Summit in September.

One of the breakout sessions was on creative prototyping, and I used the Vitamin D challenge [from Price-Babson] for the session. More than 250 students completed the challenge in 25 minutes, and then over 21 teams fast-pitched their ideas! It was AWESOME!”

Cottrell

—Angel

Program Manager Entrepreneurship Resource Centers (ERC) Kern High School District, California (USA)

Over 500 local 7–12th graders attended the Youth Entrepreneurship Education Summit.

Finding Community Through Babson Academy Webinar Series

THE ONE HOUR ENTREPRENEURSHIP

EDUCATOR

Join our lively global community for FREE webinars on anything and everything related to entrepreneurship education: from the power of entrepreneurship in engineering and technology education to the importance of entrepreneurship in healthcare—you’ll find engaging topics and meaningful connections.

Visit: babson.edu/babson-academy-webinars

Since I discovered the One Hour Entrepreneurship Educator series, I have not missed a webinar. The innovative topics covered, the excellence of the speakers, and the friendly audience interaction make this a mustattend event. Each webinar offers incredible insights for researchers and teachers, regardless of the specific topic of interest, opening up a multidisciplinary dialogue."

—Tatiana Somià, PhD Marie Skłodowska-Curie Fellow, Center for Entrepreneurship, Ohio University Faculty of Economics and Management, University of Bozen-Bolzano (Italy)

Letter from the Academic Director How Inspiration Drives Impact

Energizing. That’s the one word that comes to mind when I reflect on the Babson Academy in 2022. Energy emanated from so many people, spaces, and places, as well as connected (or reconnected) new (or old) friends:

• Educators coming back to Price-Babson SEE on campus, live, and in person: I didn’t realize how much I missed the energy of 50+ educators working and playing together for five days!

• Babson Build students, coming from around the world, excited to learn together on the Babson campus in Wellesley after being isolated and unable to travel for so long: It was great to see them all roaming around campus.

• Provocative topics such as family entrepreneurship, health care and entrepreneurship education, neuroscience and learning, and game design to amplify learning energized a global audience during our One Hour Entrepreneurship Educator webinar series.

• New approaches in Romania to change the entrepreneurship education ecosystem: A special thanks to Babson Professors Phil Kim and Mark Rice for their creativity, customization, and engaging delivery.

• Our long-standing relationship with the Luksic Foundation shows that focused entrepreneurship educator training in Chile can develop changemakers.

• The Babson Collaborative is growing every day. Think about it … 42 universities across 26 countries. That’s a lot of energy!

These are just a few of the energy-creating activities of the past year that will thrust us into an even more energizing and impactful 2023.

Entrepreneurially,

Heidi M. Neck, PhD Academic Director, Babson Academy

IMPACT

PRICE-BABSON SYMPOSIUM FOR ENTREPRENEURSHIP EDUCATORS

Countries 32+ Years 36

(SEE)

Price-Babson SEE is Babson’s longest standing program for entrepreneurship educators and is designed to help educators elevate their art and craft of teaching entrepreneurship by acknowledging that how we teach is just as important as what we teach. In May 2022, 51 faculty and administrators from around the world came to the Babson campus for a fiveday symposium designed to practice the latest experiential methods in entrepreneurship education, build a global network of like-minded educators, and develop confidence to teach at the edge of their comfort zone.

78,000 Estimated Students Impacted Annually

As an experienced entrepreneurship educator, I found SEE has transformed my practice. It reinforced that some of the things I already do are valuable, it challenged me to embrace new approaches completely out of my comfort zone, and it introduced me to a powerful community of fellow SEE participants who continue to support and challenge me long after the course has ended.”

—Richard Tunstall Associate Professor & Academic Director of Enterprise Leeds University, UK

Babson Collaborative Members

Canada Université Laval

United States

Babson Coll.

Dominican Univ. of California

High Point Univ.

John Carroll Univ. Lewis & Clark Coll.

Mexico

CETYS Univ.

Tec de Monterrey Univ. de Guadalajara

France EDC Paris

IÉSEG

TBS Education

Norway Nord Univ.

NTNU

Lebanon

USEK

Spain

EAE

EDEM

UCJC

Costa Rica

Fidélitas Univ.

Ecuador UEES UTPL

Peru Univ. de Piura

Chile Univ. del Desarrollo Universidad Mayor

Colombia Univ. del Rosario

Brazil Centro Universitário Facens

Argentina Univ. Siglo 21

Egypt

Kuwait American Univ. of the Middle East

The American Univ. in Cairo

THE LARGEST AND MOST DIVERSE MEMBERSHIP IN OUR HISTORY

300+ EDUCATORS ACTIVELY ENGAGED

Kazakhstan Almaty Management Univ.

China ShanghaiTech Univ.

South Korea

SolBridge International School of Business

Japan

Waseda Univ.

Thailand Bangkok Univ.

India

ATLAS SkillTech Univ.

Karnavati Univ.

Mahindra Univ.

FLAME University

Afghanistan American Univ. of Afghanistan

Indonesia Univ.

Sumatera Utara

Brunei Univ. Brunei

Darussalam

ACTION

Learn Action-Based Teaching Methods

Advance your teaching and become a more entrepreneurial educator.

FOR

ENTREPRENEURSHIP EDUCATORS

Price-Babson Symposium

At Babson 1 week

FOR ENTREPRENEURSHIP EDUCATORS

Custom Global Symposia

Online or in person Flexible

FOR ENTREPRENEURSHIP EDUCATORS IN ASIA

Studio for Entrepreneurship Educators—Asia

Online 2 Weeks

Tackle an Institutional or Professional Project

Participate in Babson’s entrepreneurial ecosystem while getting guidance and developing an action plan to further build your own ecosystem.

FOR EDUCATORS

Babson Fellows

At Babson 1 week

FOR ADMINISTRATORS AND FACULTY

Building an Entrepreneurship Education Ecosystem

Online 3 weeks

How can you continue bringing entrepreneurship to your institution?

Immerse Your Students in a Babson Experience

Build an entrepreneurial mindset with a global cohort of learners who want to change the world through action.

FOR UNDERGRADUATE & GRADUATE STUDENTS

Babson Build

At Babson 1–2 weeks

FOR UNDERGRADUATE STUDENTS

Entrepreneurial Mindset

Online 1–2 weeks

FOR GRADUATE STUDENTS

Babson Entrepreneurial Thought & Action® (BETA) Workshop

Online 1 week

Pursue Your Research Goals

Accelerate your publishing with mentoring, feedback, and collaboration.

FOR ENTREPRENEURSHIP FACULTY

Babson Fellows for Entrepreneurship Researchers

Online 4 weeks

OUR MISSION

The Babson Academy provides access, connection, and inspiration for institutions and educators who desire to grow entrepreneurship education ecosystems to accelerate the development of current and future entrepreneurial generations.

babson.edu/babsonacademy

babsonacademy@babson.edu