Babson Academy for the Advancement of Global Entrepreneurial Learning - Impact Report 2019

BABSON ACADEMY

FOR THE ADVANCEMENT OF GLOBAL ENTREPRENEURIAL LEARNING

Impact Report 2019

ACCESS INSPIRE CONNECT how Babson does entrepreneurship education

your students to think and act more entrepreneurially

with like-minded educators who believe entrepreneurship education is changing the world

LETTER FROM THE DEAN

SPREADING THE POWER OF

ENTREPRENEURSHIP AROUND THE WORLD The Babson Academy for the Advancement of Global Entrepreneurial Learning launched in January 2019 to provide access, inspiration, and connection for entrepreneurship educators throughout the world. Babson College’s methodology of Entrepreneurial Thought & Action® has guided and inspired thousands of students, educators, and entrepreneurs in creating social and economic value.

Although the Babson Academy is relatively new, its programs and opportunities for entrepreneurship educators have long been a core part of the College. For instance, the Price-Babson Symposium for Entrepreneurship Educators dates to the 1980s. Since then, more than 5,800 educators from 1,467 institutions in 84 countries have participated in the program.

Each year, we welcome hundreds of educators who bring new ideas and methodologies back to their campuses, and enrich the vibrant community of entrepreneurship educators. I was fortunate to participate in this year’s program, and can personally attest to the value of the network Price-Babson creates.

As dean of the Babson Academy, I work alongside faculty and staff who deeply care about entrepreneurship education and the positive impact it can have in our society. Our goal is to advance entrepreneurial learning with educators from around the globe through the Babson Collaborative and programs for students and educators.

In our first year, the Babson Academy welcomed new team members, educators, and students to Babson’s campus.

We traveled to many cities around the world to engage educators. We hope this is just the beginning of long-lasting relationships that will bring these participants back to the Babson Academy programs in the coming years.

This report contains a snapshot of the Babson Academy’s 2019 activities. We have much work ahead of us to advance entrepreneurship education around the globe. The path forward presents tremendous opportunities for you to connect with Babson’s global and entrepreneurial ecosystem. As we look to the future, I’m excited by the prospect of engaging with you through our upcoming programs and hope you will join us in advancing global entrepreneurial learning.

Best wishes,

Amir Reza, Ph.D. Dean, Babson Academy & Global Education

OUR MISSION

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

2019 IMPACT REPORT 1

ACCESS

Under the academic direction of Professor Heidi Neck, Babson Academy programs feature fresh curricula and provide access to best practices, tools, and skills so that today’s educators can effectively teach tomorrow’s entrepreneurs.

2019 FACULTY DIRECTORS Matthew Allen, Ph.D. Associate Professor, Entrepreneurship

Candida Brush, Ph.D.

F.W. Olin Distinguished Professor of Entrepreneurship and Vice Provost of Global Entrepreneurship Leadership

Andrew Corbett, Ph.D.

Paul T. Babson Distinguished Professor of Entrepreneurial Studies

Bradley George, Ph.D.

ACADEMIC DIRECTOR Heidi Neck, Ph.D.

Jeffry A. Timmons Professor of Entrepreneurship Academic Director, Babson Academy

Associate Professor, Entrepreneurship

Jay Rao, Ph.D.

Professor of Technology, Operations, and Information Management

Angelo Santinelli

Adjunct Lecturer, Entrepreneurship

Andrew Zacharakis, Ph.D. John H. Muller Jr. Professor of Entrepreneurial Studies An award-winning educator and international speaker on entrepreneurship education, she has led the SEE program for over a decade. Neck is the lead author of Teaching Entrepreneurship: A Practice-Based Approach, written to help educators teach entrepreneurship in more experiential and engaging ways. Her award-winning textbook, Entrepreneurship: The Practice & Mindset is now in its second edition. Her latest book, The IDEATE Method, guides students through an ideation technique empirically proven to help novice entrepreneurs generate high-potential new venture ideas. Heidi is an educator, writer, speaker, consultant, and entrepreneur who believes in the power of entrepreneurship education to change the world and the people who create it.

2 THE BABSON ACADEMY

Join the Babson Collaborative Community The Babson Collaborative for Entrepreneurship Education connects universities around the world that are building and expanding their entrepreneurship ecosystems. The Collaborative provides access to pedagogical best practices, expertise, and thought leadership from Babson, and a network of like-minded global peers from other member institutions. Collaborative members share the belief that institutions acting together achieve more toward its entrepreneurial mission and goals than each working alone.

GET INVOLVED

33 INSTITUTIONS 22 COUNTRIES 7 NEW MEMBERS 4th Annual Babson Collaborative Global Summit 29 participants from 16 member institutions Held in Cairo, Egypt, the 2019 annual Summit brought together entrepreneurship educators from around the world to share best practices in pedagogy and advance thought leadership.

The Summit provides optimal value for attendees through professional development content, exposure to host school and local ecosystems, excursions, and time for members to network, conduct business with each other, and socialize.

The Babson Collaborative Student Challenge 400+ student participants representing 100+ teams from 12 member institutions and 9 countries In this annual competition, students from member institutions competed in a feasibility analysis of a new business concept that addresses one of the UN Sustainable Development Goals. The challenge was completed in two phases, and the top two teams won a scholarship to attend the Babson Build program.

The Babson Collaborative Portal 200+ faculty and staff from member institutions contributing The Collaborative Portal houses an academic content library, webinars, a member directory, newsletters, and detailed information about Collaborative events, opportunities, and special projects.

The Babson Collaborative WhatsApp Community 216 documents, images, and links shared from 125 group members A convenient way for members to share articles and videos, solicit co-authors and reviewers, announce conferences and events, celebrate accomplishments, conduct benchmarking polls, reflect on developments in the field, and stay connected with one another.

2019 COLLABORATIVE AWARDS: At the annual Global Summit, we honored Collaborative members for their exemplary efforts to advance entrepreneurship education at their institutions.

Spotlight Award Winner

UniversitĂŠ Laval, Quebec City, Canada

Collaborative Member of the Year Award

FLAME University, Pune, India

Collaborative SEE Scholarship Winner S ofhia Harbs, Facens, Sorocaba, Brazil 2019 IMPACT REPORT 3

INSPIRE

BY THE NUMBERS

The Babson Academy inspires institutions, educators, and students worldwide to view entrepreneurship as a life skill for navigating uncertainty and developing the courage to act. Participants in Babson Academy programs gain the mindset and skillset needed to harness the power of entrepreneurship to create positive social and economic change in their communities.

4 THE BABSON ACADEMY

Since its founding in January 2019, the Babson Academy has offered numerous programs for institutions, educators, and students worldwide.

1,352 PARTICIPANTS FROM 48 COUNTRIES

participated in a Babson Academy program, returning home inspired by the power of the entrepreneurial mindset.

Entrepreneurship as a mindset “ I was first introduced to the Babson Academy when faculty from Babson came to Chile through the Banco de Chile Symposium for Entrepreneurship Educators. I learned that entrepreneurship is more than business creation, it’s about developing a person; skills that make you an entrepreneurial person. Babson’s support showed me this vision of improving our teaching in entrepreneurship as a mindset. I was able to create a business incubator and offer training in entrepreneurship for professors of all areas at our university.”

ISMAEL ESPINOZA Head of Entrepreneurship Department at the Faculty of Interdisciplinary Studies at Universidad Mayor, Chile Chilean SEE, Luksic Fellows, and Santander Universities Academic Entrepreneurs Participant

Membership in the Babson Collaborative fosters positive change “ The adoption of the Babson definition of entrepreneurship has expanded our approaches, and made them more inclusive. It has sparked a significant positive change in our community and contributed to creativity and innovation, that never would have happened so impactfully, if not for the Collaborative and its leadership.”

PROFESSOR COLLEEN FOSTER Faculty at American University of Afghanistan Babson Collaborative Champion

The opportunity to network with like-minded faculty “ One of the things I love the most about the Babson Academy is the networking. The experience here at Babson is such a great and unique experience because you can gain knowledge from all the participants and use it to transform the mindset around entrepreneurship at your university.”

JUAN ARTUSO Head of Entrepreneurship Center at Universidad Argentina de la Empresa Babson Build and Santander Universities Academic Entrepreneurs Participant 2019 2019IMPACT IMPACTREPORT REPORT 5 5

CONNECT PROGRAMS

The Babson Academy programming connects Babson’s renowned entrepreneurship faculty with participants from around the world. The rich exchange of ideas and best practices among hundreds of educators, administrators, and students of all ages is a hallmark of the Babson Academy.

PRICE-BABSON SYMPOSIUM FOR ENTREPRENEURSHIP EDUCATORS (SEE)

117 20 PARTICIPANTS

BABSON FELLOWS PROGRAM FOR ENTREPRENEURSHIP EDUCATORS

24 9 PARTICIPANTS

COUNTRIES

240 4 PARTICIPANTS

COUNTRIES

BABSON BUILD FOR UNIVERSITY STUDENTS

424 35 PARTICIPANTS

COUNTRIES

CUSTOM STUDENT PROGRAMS

CUSTOM FACULTY PROGRAMS

452 10

94 10

PARTICIPANTS

6 THE BABSON ACADEMY

COUNTRIES

GLOBAL SYMPOSIA FOR ENTREPRENEURSHIP EDUCATORS (SEE)

COUNTRIES

PARTICIPANTS

COUNTRIES

OUTREACH

AROUND THE WORLD In 2019, the Babson Academy team had many opportunities to connect with organizations around the globe through discussions, teaching, and speaking engagements.

» European Association for International Education (EAIE) Helsinki, Finland

» SolBridge International School of Business Daejeon, South Korea » KAIST College of Business Seoul, South Korea » Association of American Colleges & Universities (AAC&U) San Antonio, Texas USA

» United States Association for Small Business and Entrepreneurship (USASBE) Whitewater, WI, USA

» Association of International Educators (NAFSA) Washington, D.C. USA

» Norwegian University of Science and Technology (NTNU) Trondheim, Norway

» India School of Management & Entrepreneurship (ISME) Mumbai, India

BRINGING THE

WORLD TO BABSON One of the best ways to learn about Babson is to visit. Let us share how we approach entrepreneurship, our immersive learning experiences, dynamic programs, engaging faculty, and diverse community.

VISITORS

ACADEMIC INSTITUTIONS

COUNTRIES

207

47

57 2019 IMPACT REPORT 7

WHAT THEY’RE SAYING ABOUT THE BABSON ACADEMY EXPERIENCE ...

As a young professional and newly employed assistant professor in entrepreneurship, it was very helpful to have some highly intensive days at SEE. The reading material was interesting and up to date, and it was great to share challenges and ideas with

The Babson Build program was a life-changing experience

like-minded educators from all over the

for me. It was a chance to learn and work together with

world. It was also super inspiring to meet

students and entrepreneurs from every part of the world,

and learn from the whole Babson faculty.

who encourage you to leave your mark in the world.

I got so many tips and tricks that I could

After the Babson Build program I have the knowledge,

implement when I got back to my classes.

motivation and of course passion to succeed!

Great experience and some very fruitful days.

JOAQUIN GONZALEZ PLACENCIO, Student Universidad del Desarrollo, Chile Babson Build for University Students

EVEN LARSEN, Assistant Professor NTNU School of Entrepreneurship, Norway Price-Babson Symposium for Entrepreneurship Educators

The 2019 SEE was transformative on several

Babson Build was an incredible program. The professors

levels. Exposure to world-class scholars

gave high-level lessons with practical examples, which was

from a diverse and broad span of disciplines

very different from other entrepreneurship classes. Babson

helped me to develop a deeper perspective

faculty have a very detailed approach for identifying

on entrepreneurship, which has made

problems, which in turn makes it easier to develop

me a more effective educator. It has been

innovative solutions.

instrumental in my success as an educator.

Ideas, sources, inspiration, and no small quantity of resources are benefits that continue to enhance my academic repertoire.

SEE 44 ranks as a world-class experience for me and I remain grateful for the privilege.

THOMAS MCHAFFIE, Teaching Faculty Jim Moran College of Entrepreneurship, Florida State University, USA Price-Babson Symposium for Entrepreneurship Educators

8 THE BABSON ACADEMY

VALERIA RODRIGUEZ ESPINOZA, Student TecnolĂłgico de Monterrey, Mexico Babson Build for University Students

OPPORTUNITY

2020

As we embark on a new decade, entrepreneurship education is both a substantial opportunity for universities around the world, and a significant responsibility. The Babson Academy is heeding the call to inspire, connect, and help universities access a global entrepreneurship education ecosystem. As we move forward in 2020, the Babson Academy is excited to introduce new programs, continue our legacy programs, and co-create thought leadership.

Here are a few upcoming programs that are already building buzz: • The inaugural offering of the Babson Fellows Program for Entrepreneurship Researchers • A new teaching effectiveness coaching program for Babson Collaborative members • The Teaching Innovation Program to help educators better teach innovation concepts, building on the success of the Global Symposia for Entrepreneurship Educators (SEE), which helps educators better teach entrepreneurship I’m also extremely excited about a book that I’m co-editing called Innovations in Global Entrepreneurship Education, coming in early 2021. The book includes more than 20 chapters on best practices in entrepreneurship education. All chapters will be written by faculty from our Babson Collaborative member institutions. This book is truly an example of co-creating thought leadership in the Babson Academy.

Keep entrepreneuring,

Heidi Neck, Ph.D. Jeffry A. Timmons Professor of Entrepreneurship Academic Director, Babson Academy

2019 IMPACT REPORT 9

babson.edu/babsonacademy 03/20_ENRLMKT2-1229

babsonacademy@babson.edu