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BABSON ACADEMY ADVANCING GLOBAL ENTREPRENEURIAL LEARNING

Impact Report Connection, Collaboration, Gratitude

Best College in Entrepreneurship # 2 in the United States 1 School

– U.S. News & World Report

– The Wall Street Journal

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Letter from the Dean

Advancing

Entrepreneurship Education in Communities of All Kinds

am honored to introduce the latest Babson Academy Impact Report, a reflection on January through early summer 2025—defined by connection, collaboration, and gratitude. As we continue to work alongside educators and learners from around the world, I am reminded of the power of entrepreneurship education, and I am deeply thankful for the opportunities we have had to unite people across disciplines, geographies, and generations. This report celebrates the shared learning and mutual inspiration that emerge when we come together to explore new ideas. From Costa Rica to Switzerland, Saudi Arabia to South Korea, and across the United States, Babson Academy supported educators and students in building entrepreneurial mindsets and creating meaningful impact.

Babson Academy Impact Report, Early 2025

We celebrated milestones like the Lincoln School’s full faculty completion of the Certificate in Youth Entrepreneurship Education, hosted our first hybrid Summer Study for high school students, and convened global partners at the Babson Collaborative Summit in Paris. As we reflect on these achievements, we also celebrate Babson College being ranked the second-best college in the United States by The Wall Street Journal for the second consecutive year—a testament to our unwavering commitment to excellence and innovation in education. I am deeply grateful to our faculty, staff, and institutional partners for their commitment to expanding access to entrepreneurship education. Together, we are cultivating a global community of changemakers—one that continues to grow stronger, more connected, and more inspired each year. Thank you for being part of this journey.

Amir Reza, PhD Dean, Babson Academy

FACULTY DIRECTORS Heidi Neck Jeffry A. Timmons Professor of Entrepreneurship Academic Director, Babson Academy

Beth Goldstein Lecturer of Entrepreneurship Senior Director of Academic Strategy, Youth Impact Lab

Candida Brush F.W. Olin Distinguished Professor of Entrepreneurship

Andrew Corbett Paul T. Babson Distinguished Professor of Entrepreneurial Studies Faculty Director, Butler Institute for Free Enterprise through Entrepreneurship

Lily Crosina Assistant Professor of Entrepreneurship

Bradley George Associate Professor of Entrepreneurship

Phillip Kim Lewis Family Distinguished Professor in Social Innovation Chair, Entrepreneurship Division

Jay Rao Professor of Operations and Information Management

Jeff Shay Professor of Entrepreneurship

Benjamin Spigel Associate Professor of Entrepreneurship

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Thirty-Five Educators, ONE Epic Experience: Babson Academy in Switzerland Babson Academy partnered with Leysin American School (LAS) in Switzerland to deliver a customized Certificate in Youth Entrepreneurship Education program for 35 educators and school leaders. Led by Beth Goldstein, the program introduced Babson’s Entrepreneurship Program for Innovators and Changemakers (EPIC)—a youth curriculum rooted in Entrepreneurial Thought & Action® and aligned with the United Nations Sustainable Development Goals (SDGs). Educators engaged in experiential learning and developed classroomready social impact projects addressing challenges such as food waste and overconsumption.

Babson Academy Impact Report, Early 2025

One team proposed healthier food options for the LAS community, while others designed awareness campaigns and resale platforms to promote sustainability and community pride.

The Changemakers program at LAS integrates innovation, creativity, and

“The Babson EPIC training was an

entrepreneurship into academics and

incredible experience for our school.

student life, preparing students for a rapidly evolving global economy.

With participants representing a wide range of backgrounds and roles at Leysin American School, the program brought entrepreneurship education—and our new Innovation, Creativity, and Entrepreneurship

The training was deeply experiential, allowing educators to experience the EPIC curriculum in the same manner their students would. As one participant shared, “The course changed my perspective on entrepreneurship significantly! I saw a new teacher in me.” LAS is now in the process of activating EPIC classrooms— marking a meaningful step in building a culture of innovation and impact across the school.

(ICE) program—vividly to life for everyone involved. We are excited to implement Babson’s EPIC curriculum and are inspired by the spirit of innovation it fosters. As we continue to grow together, we look forward to deepening our entrepreneurial mindset and evolving our programs in creative and impactful ways.”

– Sabina Schwedtmann-Lynch Dean of Academics Leysin American School in Switzerland

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A New Lens on Learning Mindsets for Secondary Schools in Jeddah Starting in 2024, Babson Academy launched an ongoing pioneering research initiative in Jeddah, Saudi Arabia, focused on cultivating entrepreneurial mindsets in secondary school classrooms. Supported by a grant from the Babson Global Center for Entrepreneurial Leadership (BGCEL), the research project brought together 20 educators and administrators from four local schools to explore innovative pedagogical strategies for entrepreneurship education. In collaboration with consultants from Next World Learning Lab—led by Edward Clapp and Lisa Yokana—Babson Academy facilitated a dynamic learning journey that emphasized inquiry, experimentation, and growth. 6

Babson Academy Impact Report, Early 2025

Participants co-created a framework of entrepreneurial mindset attributes tailored to secondary education and engaged in reflective documentation practices, supported by personalized feedback and peer learning.

Heidi Neck and Beth Goldstein each traveled to Jeddah to enrich the cohort experience, sharing their expertise and helping to build a foundation for long-term impact. Over the next two years, Babson and its partners will develop a comprehensive educator toolkit to further embed entrepreneurial thinking in classrooms across the region.

Pictured from left to right: Kim Stanhouse, Director, BGCEL Edward Clapp, CEO, Next World Learning Lab Heidi Neck, Jeffry A. Timmons Professor of Entrepreneurship, Academic Director, Babson Academy Lisa Yokana, Chief Innovator, Next World Learning Lab Dr. Randa Hariri, Founder, Educational Consultancy for Enhancing Quality (ECEQ Ltd), Associate Professor and Chair of Education Department at Dar Al-Hekma University

This project has been funded by the Babson Global Center for Entrepreneurial Leadership, whose vision is to promote a sustainable entrepreneurial ecosystem in Saudi Arabia.

Pictured Beth Goldstein leading workshop with secondary school educators in Jeddah, Saudi Arabia

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Young Founders, Big Ideas: Babson Academy’s Work with Woosong University Babson Academy proudly partnered with Woosong University’s SolBridge International School of Business to deliver the Young Founder’s Entrepreneurship Program—a semester-long initiative designed to spark entrepreneurial thinking among 32 globally diverse undergraduate students. Each student embarked on their own venture journey through a rigorous, team-based curriculum, with Babson faculty leading one of six online courses.

This collaboration marked Babson Academy’s first fully virtual semesterlong engagement with a partner institution, led by Benjamin Spigel and featuring contributions from 10 Babson faculty and five SolBridge educators. Rooted in Babson’s Entrepreneurial Thought & Action® (ET&A™) framework, the program equipped students with the mindset and tools to navigate uncertainty, embrace innovation, and explore the transformative role of artificial intelligence and datafication in entrepreneurship.

Babson Academy Impact Report, Early 2025

Together, Woosong and Babson are strengthening their shared commitment to entrepreneurship education in Asia. With strong engagement and early momentum, both institutions hope to build on this inaugural program and offer it annually, further continuing to shape the next generation of entrepreneurial leaders.

Topics covered:

Participants examined how AI and datadriven strategies can be leveraged to build sustainable, future-ready business models— an essential skill set for emerging founders in today’s rapidly evolving markets.

» Business Model » Concept Validation » Customer Journeys » Customer Personas » Empathy Mapping » Entrepreneurial Leadership » Entrepreneurial Mindset » ET&A™ » From Idea to Opportunity » Ideation » Identity » Opportunity Pitch » Pitching Early Ideas » Rapid Prototyping » Revenue & Cost Drivers » Special Topics (e.g. Franchising) » Talking to Customers » Team Formation & Dynamics » Testing & Experimentation » Value Proposition BABSON COLLEGE

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Strengthening HBCU Partnerships Through Entrepreneurship At Babson Academy, we’re proud to expand access to world-class entrepreneurship education through our annual programming, including Babson Build and the Symposium for Entrepreneurship Educators (SEE). This year, we deepened our engagement with Historically Black Colleges and Universities (HBCUs) through two impactful, customized Babson Build and SEE experiences.

Babson Build

Babson Academy Impact Report, Early 2025

Led by Bradley George, Babson Build welcomed nearly 40 students from 15 HBCUs to our Wellesley campus for a weeklong immersion in venture creation, leadership, and innovation. Students explored their entrepreneurial potential, connected with Babson faculty, and built a supportive peer network— many refining or preparing to launch their own ventures.

ADVANCING ENTREPRENEURSHIP EDUCATION

Meanwhile, SEE-HBCUs, held in partnership with Clark Atlanta University and the National HBCU Business Deans Roundtable, brought together HBCU faculty for a 3.5-day intensive focused on entrepreneurial pedagogy. Led by Heidi Neck and Andrew Corbett, participants engaged with Babson’s Entrepreneurial Thought & Action® methodology, explored experiential teaching strategies, and examined the role of AI in entrepreneurship education.

“This experience has been transformative. I’m walking away with new tools, new confidence, and a renewed sense of purpose as an entrepreneurship educator.”

– HBCU participant BABSON COLLEGE

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Celebrating Entrepreneurship and Learning at The Babson Collaborative Summit The Babson Collaborative for Entrepreneurship Education is a global entrepreneurship education membership organization, bringing together universities committed to building and expanding their entrepreneurship ecosystems.

8th Annual Babson Collaborative Global Summit

74 PARTICIPANTS MEMBER from 29 INSTITUTIONS across 21 COUNTRIES

30 SPEAKERS from 11 INSTITUTIONS 12

Babson Academy Impact Report, Early 2025

In collaboration with EDC Paris Business School, the eighth annual Babson Collaborative Global Summit convened in Paris with 74 participants from 29 member institutions across 21 countries in attendance. Centered on the theme, “The Power of Global Entrepreneurship Education: Cultivating Innovation through Collaboration,” the summit provided a platform for advancing thought leadership, exchanging best practices, and fostering institutional partnerships. The event featured 30 speakers from 11 institutions, offering regional insights and innovative approaches to entrepreneurship education.

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The Babson Collaborative for Entrepreneurship Education

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New inductees to The Babson Collaborative Circle of Influence: Recognizing sustained engagement and leadership within the network.

» Holy Spirit University of Kaslik » Mahindra University » TBS Education » Universidad Técnica Particular de Loja

Annual awards celebrated member achievements, including the Spotlight Award presented to Universiti Brunei Darussalam for its EntreMasterclass program, and the Member of the Year Award presented to Rajkumar Phatate of Mahindra University for his contributions to collaborative programming and thought leadership.

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From Ideas to Impact Student Solutions for a Sustainable Future Each year, the Babson Collaborative invites students from member institutions around the world to compete in the Global Student Challenge, pitching business ventures that address one or more of the United Nations Sustainable Development Goals (SDGs).

Global Student Challenge

3,530 PARTICIPANTS MEMBER from 30 INSTITUTIONS across 22 COUNTRIES

970 NEW BUSINESS CONCEPTS 14

Babson Academy Impact Report, Early 2025

In 2025, 3,530 students from 30 member institutions across 22 countries pitched 970 new business concepts aimed at advancing global sustainability and social impact.

Undergraduate Winner: Serenna The winning undergraduate team, Serenna from Universidad del Desarrollo in Chile, developed a noninvasive medical device designed to relieve chronic pelvic pain in women. The team includes Karla Burgos, Francisca Morales, María Florencia Ramírez, Patricio Schuler, and Bárbara Véjares.

Graduate Winner: SENTA The winning graduate team, SENTA from Universidad Técnica Particular de Loja in Ecuador, proposed a solution to convert banana agricultural waste into biodegradable bioplastics for sustainable packaging solutions. The team includes Andrés Enrique Carrera Mazón, Josué David Mora Escudero, and Diego Paolo Pazán Maldonado. Winning teams attended Babson Build, a weeklong entrepreneurship bootcamp where they refined their ventures with guidance from Babson faculty.

Social Impact Patrons, made up of Ramón Mendiola ’86, P’20 ’21 ’24 ’28, Business & Management from Sage, and the Babson Global Center for Entrepreneurial Leadership, sponsored a $3,500 award given to the winners, as well as cash prizes for the runnerup teams.

Collaborative Global Student Challenge winners from Serenna and SENTA attended the Babson Build entrepreneurship program at Babson this summer.

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Major Milestone with the Lincoln School in Costa Rica Babson Academy Youth Impact Lab’s partnership with the Lincoln School in Costa Rica has transformed the educational experience for students and educators alike. Through the Certificate in Youth Entrepreneurship Education program, nearly 100 percent of Lincoln’s K-12 teachers and school leaders were trained to teach entrepreneurial thinking to their students. This shared language helps embed creativity, risk-taking, and realworld problem solving across grade levels and disciplines. This collective approach led to over 650 student-designed social impact projects, including initiatives addressing sustainability, community engagement, and environmental challenges. 16

Babson Academy Impact Report, Early 2025

The Entrepreneurship Program for Innovators and Changemakers (EPIC) is now a required course for ninth graders and serves as the foundation for Lincoln’s robust entrepreneurship curriculum, which features interdisciplinary units, service initiatives, and custom high school courses.

Aerial View of Ruta 32, San Luis, Heredia and San Jose, Costa Rica

As of early 2026, every teacher and administrator—over 225 in total—will have completed Babson’s Certificate in Youth Entrepreneurship Education enabling them to embed entrepreneurial thinking in their courses. This marks a complete institutional culture shift focused on entrepreneurship. Looking ahead, Lincoln School is committed to deepening this culture of innovation, empowering more students to become changemakers, and measuring the long-term impact of these initiatives on the school community and beyond.

“When an entire faculty is trained in the same entrepreneurial methodology, it creates a unified language of innovation that empowers students to be brave and creative in their learning.”

– Scott Garren High School Principal, Lincoln School, Costa Rica

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Babson Summer Study Expands with First In-Person Program at NEIA In Summer 2025, Babson Academy brought together students from all over the world for its summer study program—an intensive, creditbearing experience designed to cultivate entrepreneurial mindsets in rising juniors and seniors.

Summer Study Program for High-School Students STUDENTS EARNED

60 ONLINE 131 PARTICIPANTS from 22 COUNTRIES

IN-PERSON PARTICIPANTS

4 COLLEGE CREDITS

Babson Academy Impact Report, Early 2025

For the first time, the program offered two formats concurrently, with both fully online and in-person options. The in-person experience, hosted at the New England Innovation Academy (NEIA), saw excellent turnout and engagement. Students earned 4 college credits through Babson’s EPS 1110 course, exploring real-world challenges framed by the United Nations Sustainable Development Goals (SDGs).

Babson Summer Study at NEIA created a safe, inclusive, and nurturing space where students formed lasting friendships and collaborated on projects that sparked entrepreneurial thinking, curiosity, and creativity.

Immersed in Babson’s Entrepreneurial Thought & Action® methodology, participants developed problemsolving, leadership, and venture creation skills while connecting with peers from around the globe. The program continues to be a cornerstone of Babson’s commitment to preparing the next generation of changemakers.

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Expanding Access to Entrepreneurial Learning Babson Academy’s programs continue to serve as powerful platforms for entrepreneurial growth and global connection.

In January, the Price Babson Symposium for Entrepreneurship Educators (SEE) welcomed faculty from around the world to explore transformative teaching practices rooted in Entrepreneurial Thought & Action®. Participants leave the program and return to their institutions understanding that “how” we teach entrepreneurship is just as important as “what” we teach. The program equips educators with practical tools to guide their students toward more entrepreneurial ways of thinking and to be better able to navigate uncertainty to identify and execute new initiatives.

Babson Academy Impact Report, Early 2025

Through collaborative workshops and peer exchange, university stakeholders crafted road maps for effective university-based entrepreneurship education ecosystems to maximize sustainable impact in their communities.

March brought together our largest cohort ever for Building an Entrepreneurship Education Ecosystem, a dynamic virtual experience designed to help administrators and faculty strengthen their institutional entrepreneurship efforts.

Together, these programs reflect Babson Academy’s commitment to expanding access to world-class entrepreneurship education and cultivating a global community of educators and learners.

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A Letter from the Academic Director

Each year, I am reminded that the Babson Academy’s impact extends far beyond our campus in Wellesley. It is powered by the extraordinary educators, institutions, and learners we have the privilege to work with around the world. Our footprint is large not because of our size, but because of our partnerships. You—our collaborators, colleagues, and champions—are the multiplier of our mission to advance global entrepreneurship education. For that, I am deeply grateful. Entrepreneurship education remains as relevant today as it has ever been— perhaps even more so. The world continues to face uncertainty on multiple fronts, and yet, that very uncertainty is the context in which entrepreneurship thrives. Entrepreneurship educators, of all kinds, navigate ambiguity, embrace experimentation, and uncover opportunity where others see constraint. That mindset is what the Babson Academy seeks to instill, nurture, and spread through every program, partnership, and connection we make.

Babson Academy Impact Report, Early 2025

This report shows that the Babson Academy continues to expand its global reach, engaging in new regions, launching new programs, and deepening long-standing relationships. What unites all of our work is the belief that entrepreneurial thinking is not limited by borders or disciplines; it is a way of seeing and shaping the world. From collaborative curriculum design to educator training and student experiences, every interaction strengthens a global community committed to creating economic and social value. Thank you for inviting us into your classrooms, your universities, and your entrepreneurial ecosystems. Thank you for believing, as we do, that entrepreneurship education can change lives and strengthen communities. Together, we continue to expand what’s possible. Entrepreneurially,

Heidi M. Neck, PhD Jeffry A. Timmons Professor of Entrepreneurship Academic Director, Babson Academy

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Our Mission Babson Academy provides access, connection, and inspiration for institutions and educators who desire to grow entrepreneurship education ecosystems to accelerate the development of

Learn more & contact us:

babson.edu/ba 24

Babson Academy Impact Report, Early 2025

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current and future entrepreneurial generations.