As the world and workplace rapidly evolve, the need for education and ongoing learning will continue to increase in tandem. The essential and growing need for knowledge is a bright spot for colleges and universities during a period of disruption in higher education. It also presents a unique opportunity for Babson to capitalize on our strengths and extend our leadership in entrepreneurship education. The future of work requires that we dynamically solve problems and forge opportunities to create social and economic value.

Babson, across all phases of the learning continuum, educates entrepreneurial leaders who are nimble, opportunity-driven, innovative, and growth-oriented. They are collaborative problem-solvers who possess qualities and skills that make them particularly valuable in a fast-paced and constantly changing marketplace.

Babson recently announced a groundbreaking collaboration with The Arthur M. Blank Family Foundation to advance and amplify values-driven entrepreneurial leadership on a global scale. Through a $50 million gift, the largest ever awarded by the Blank Family Foundation and the largest single gift in the College’s history, Babson will establish the Arthur M. Blank School for Entrepreneurial Leadership. The development of this new school within the College requires all Babson disciplines to lead change, solve problems, and create sustainable value across business and society.

At the start of our second century, this is a major investment in the role of entrepreneurial leadership to improve the human condition. Babson has long been ranked No. 1 in entrepreneurship education, and this gift generates unparalleled energy and momentum for our continued leadership and innovation. Our strategic plan and the vision of Arthur M. Blank ’63, H’98—both of which we will explore in detail in our next issue—solidify Babson’s position at the forefront of the field.

The world is changing. Entrepreneurial leaders are more important than ever. Babson College has an important role to play, and we are envisioning and investing in concrete ways to create ongoing value for our community.

Stephen Spinelli Jr. MBA’92, PhD

Stephen Spinelli Jr. MBA’92, PhD
Photo: Pat Piasecki

Being back at Babson is an exciting homecoming. I have held many Babson titles over the past three decades: student, faculty, alumus, and leader. Now, my career as an entrepreneur and academic comes full circle, and I am honored and energized to add president to that list.

Over the past seven months, I have met thousands of members of the Babson community at hundreds of events and meetings on campus and around the world. Hearing from this smart and passionate community has been inspiring. My goal is to continue to engage with all of you in ways that are meaningful to you, valuable to the College, and impactful for our students.

As I return to Babson, it is clear that while much has changed—including our newly transformed campus—Babson remains dedicated to teaching and learning, and committed to excellence. The trajectory of growth at Babson has been immense, and the culture of entrepreneurship and consistency of mission is motivating and important. Today, the world needs entrepreneurship more than ever.

The pace of change in the world and workplace is accelerating, and every industry, including higher education, is being disrupted. Disruption and change create new opportunities to advance our differentiator—Entrepreneurial Thought & Action®. By engaging the entire Babson community in a collaborative strategic planning process, we will prepare the College to thrive in today’s evolving environment. I ask you to participate in this effort and to share your input and ideas as we plan for Babson’s future (see The Courage to be Bold for more information on strategic planning).

I look forward to connecting with you as we continue to celebrate Babson’s Centennial and envision our next 100 years. The enthusiasm and collaboration of the global Babson community will empower our ongoing innovation and success and build on our legacy and leadership in entrepreneurship education. It is great to be back at Babson.

Stephen Spinelli Jr. MBA’92, PhD

President Kerry Healey
Photo: Webb Chappell

As my time at Babson soon comes to a close, it prompted me to consider how the College has grown and evolved over the past six years. I am exceedingly proud of our record of shared accomplishments and the impact the Babson community is making around the world.

On campus, over the last six years, we have welcomed the most well-qualified, diverse, and international undergraduates in Babson history, including 47 Global Scholars and the first female-majority class. We launched an accelerated degree pathway to reduce undergraduate tuition by up to 25 percent, met 100 percent of demonstrated need for incoming undergraduates, and awarded nearly $200 million in grants and scholarships since 2013.

We have celebrated the renovation and expansion of the Park Manor Quad, and opened Roger’s Pub & Grille and the Weissman Foundry. We created new spaces for wellness and connection with the Babson Recreation and Athletics Complex and Babson Commons at Horn Library. And, we restored and relocated the Babson Globe to a beautiful new park at the center of campus—one that will be named in my honor, as Kerry Murphy Healey Park. My most sincere thanks to everyone who has made this possible.

Around the world, Babson’s reach and reputation are unparalleled. Since 2015, we have introduced new satellite locations, launched the Babson Collaborative for Entrepreneurship Education, and brought free, online courses to nearly 200,000 students in more than 200 countries. Since 2013, alumni participation has increased 135 percent, international giving has increased 500 percent, and we have raised nearly $200 million to support Babson’s people, programs, and campus.

We have achieved so much together, yet there remains an incredible need and opportunity for Babson to lead in our second century. Babson has always believed that business can be a force for good, that it can transform lives, communities, and societies for the better. In the words of Roger Babson, business should be “a means of rendering service to humanity.”

Today, more than ever, the world needs entrepreneurs. Without question, Babson’s entrepreneurs possess the skills, ambition, and mindset to take on big challenges and change the world.

Thank you for allowing me to lead this remarkable institution. I am so grateful to be a member of this extraordinary community and I cannot wait to see what the future holds for Babson.

Kerry Healey

Photo: Webb Chappell
Babson President Kerry Healey

In September, U.S. News & World Report ranked Babson the No. 1 undergraduate program for entrepreneurship a remarkable 22nd consecutive time. This is an unprecedented achievement and a testament to Babson’s continued leadership in entrepreneurship education.

Some four decades ago, Babson pioneered entrepreneurship as an academic discipline, based on the revolutionary belief that entrepreneurs can be made and are not just born. We redefined entrepreneurship to mean more than simply starting a business. Instead, we educate leaders who think and act entrepreneurially in all settings, from family enterprises and startups to social ventures and established corporations.

Today, we are preparing entrepreneurs of all kinds to lead in a new way, creating social and economic value simultaneously and, in doing so, transforming lives, businesses, and communities for the better. And we are working hard to make Entrepreneurial Thought & Action accessible to everyone, everywhere.

Last year, Babson awarded $44 million in institutional grants and scholarships, and, for the first time in nearly two decades, met 100 percent of demonstrated need for incoming domestic undergraduates. Babson is enriched by the presence of our extraordinary Global Scholars, Posse Scholars, Diversity Leadership Scholars, Center for Women’s Entrepreneurial Leadership Scholars, Presidential Scholars, and many others. We know that everywhere on campus, in every situation, there are aspiring leaders with the potential to change the world for the better.

A significant portion of scholarship dollars comes from philanthropy. The generosity of the Babson community enables us to recruit globally, have impact locally, increase selectivity, and offer financial support to the world’s most talented and promising entrepreneurial students.

Babson’s fundraising and alumni engagement reached historic levels in fiscal year 2018. With more than $67 million raised in support of Babson’s people, programs, and campus, we surpassed 10,000 donors for the first time in College history, and we exceeded our participation goal to end the year with a record 30.5 percent of alumni giving to the College.

Since 2012, alumni participation has increased an incredible 135 percent. This is thanks to all of you. Our exceptional global network of 41,000 alumni in 119 countries is among our greatest strengths, and I am incredibly grateful for the ongoing commitment of our community.

Looking ahead to our Centennial, we have so many exciting plans in place. Babson is poised for a second century of innovation and leadership. Our campus is transforming, our community is growing, and our reputation is stronger than ever. I hope you will join us on campus soon and experience the excitement with us in person.

Kerry Healey

Photo: Webb Chappell
Babson President Kerry Healey

The weekend featured an impressive collection of speakers, panelists, and international business leaders, facilitating thoughtful discussions and a lively exchange of ideas about the future of global enterprise and entrepreneurship. This year, we also were joined by 27 student ambassadors, including several of our incredible Global Scholars, who inspired us with their vision and ambition to create economic and social value everywhere.

One of the highlights of this year’s conference was the official launch of Babson’s Institute for Family Entrepreneurship, a new hub of teaching, research, and innovative programs dedicated to advancing entrepreneurial families around the world. An estimated 70 to 90 percent of annual global GDP is created by family businesses, according to the Family Firm Institute, and studies show that family businesses tend to be more socially responsible and focused on the triple bottom line of people, planet, and profits. The multigenerational survival of family enterprises is critical to global job creation, prosperity, and positive social impact.

When Babson was founded nearly 100 years ago, its primary focus was to educate the sons of businessmen—in 1919, Babson was all male—and prepare them to take over their family businesses. Since then, Babson has remained at the forefront of educating entrepreneurial families and conducting research and programming to help them achieve continued growth. Today, half of Babson’s students come from entrepreneurial families, and as we approach our Centennial, supporting family enterprises remains a key priority.

BCW also provided an opportunity to introduce Lauri Union, the Institute for Family Entrepreneurship’s new executive director, to the Babson community. Lauri has a long history of supporting entrepreneurial families and is known for the turnaround and sale of her family business after becoming its president and CEO when she was just 27. Under her direction, the Institute will continue Babson’s role as an innovator and leader for family entrepreneurship (for more, see Entrepreneurship Through the Generations).

During the past four years, BCW has grown and evolved into the world’s foremost gathering of entrepreneurial thinkers. I am excited to share that next year, as part of Babson’s Centennial celebrations, BCW will come home to Babson with events in and around Boston’s innovation ecosystem.

After a wonderful BCW experience (to see photos from Madrid, go to Connections), I’m happy to be back in Wellesley, enjoying a beautiful New England summer and preparing to welcome the Class of 2022 to campus this fall. I hope you have enjoyed a relaxing summer with family and friends, and I look forward to seeing you at Back to Babson in September.

Kerry Healey

Photo: Webb Chappell
Babson President Kerry Healy

In April, Babson joined Wellesley College and Olin College of Engineering to mark World Health Day 2018. This cross-campus collaboration brought together students, faculty, alumni, thought leaders, and global health experts for a day of discussion and brainstorming about the potential of entrepreneurship to combat our most complex global health challenges.

The World Health Organization points out some astounding needs in the global health arena: in 2017, half the world’s population of 7.3 billion lacked access to essential health services; in 2015, 5 billion people didn’t have access to affordable and safe surgery, and more than 2 billion people lacked basic sanitation services; and in 2012, an estimated 23 percent of global deaths resulted from people living or working in an unhealthy environment.

At Babson, we know that the leadership and inspiration of entrepreneurs of all kinds is needed to address these pressing issues and that the transformative power of entrepreneurship can be of great benefit in the field of global health care.

Babson alumni around the world are doing innovative and groundbreaking work, creating unconventional global health solutions and bridging medicine and business with entrepreneurial energy. Joanna Geisinger, MBA’17, is facilitating collaboration among hospitals and medical device companies as founder and CEO of TORq Interface; Chinmoy Mishra, MBA’08, and Dhairya Gupta, MBA’08, founders of AllizHealth, have created a platform to help consumers in India track and manage their health; and Ed LaFrance ’95 is revolutionizing elder care as founder of EvoLve Senior Living.

Here on campus, Babson’s Schlesinger Fund for Global Healthcare Entrepreneurship, housed within The Lewis Institute, is providing opportunities for faculty and students to apply Entrepreneurial Thought & Action to global health challenges. Through events, student programs, thought leadership, and strategic partnerships with global health-care leaders, Babson is exploring the state of global surgery and health through the lens of entrepreneurship and business organization principles.

This work is made possible through the generosity of the Kletjian Foundation and the vision of its co-founder and president, Carmella Kletjian. In addition to funding the Schlesinger Fund for Global Healthcare Entrepreneurship, the Kletjian Foundation has endowed a Distinguished Professor in Global Surgery to support a field critically in need of new, sustainable approaches. We were honored to have Carmella join us at Babson Connect: Worldwide in Madrid to continue the conversation about global health care and entrepreneurship.

At Babson, we believe entrepreneurship is the most powerful force for creating positive change in the world. Global health is ready for new solutions and disruption. Our incredible community of 40,000 alumni and friends around the world is equipped to tackle these challenges with entrepreneurial spirit, thought, and action, and will transform lives, businesses, and communities for the better.

Kerry Healey

Photo: Webb Chappell
Babson President Kerry Healey

During the past several years, Babson’s incoming undergraduates have been increasingly and intentionally diverse. The Class of 2021 is 52 percent women, 28 percent international, 44 percent U.S. students of color, and 28 percent historically underrepresented minorities. It also is the most competitive and well-qualified class in Babson history.

Diversity of all kinds extends to socioeconomic circumstances, and we are working to ensure that a Babson education is accessible to exceptional students regardless of financial means. This year, we awarded $37 million in institutional grants and scholarships. The Class of 2021 includes 14 percent Pell Grant recipients, a percentage we hope to increase in coming years. And, for the first time in nearly two decades, Babson met 100 percent of need for incoming domestic students.

Among those granted scholarships is a group of Diversity Leadership Award recipients selected for their potential to lead and foster an inclusive community at Babson. Next fall, the planned cohort will include public school students from Babson’s Hub locations of Boston, San Francisco, and Miami. As part of our vision to make Entrepreneurial Thought & Action accessible to everyone, everywhere, we have established small-footprint, high-impact Hubs in these communities, known for their entrepreneurship ecosystems, and we are pleased to extend these awards to local students.

It is important that we work to make historically exclusive environments—such as higher education—welcoming to all students, including those from communities where college attendance might not be the norm. Everywhere, in every situation, there are aspiring leaders with the potential to change the world for the better.

Our campus is enriched by varied perspectives and experiences, and our global network of 40,000 alumni and friends in 114 countries is equally dynamic. We are taking steps to ensure that Babson’s governance boards also are representative of all backgrounds and recently elected the first chairwoman of the Board of Trustees, Marla Capozzi, MBA’96.

I am reminded of the words that Ellen Johnson Sirleaf, H’17, former president of Liberia, shared at our 2017 Commencement exercises, in which she beautifully articulated the inherent inclusiveness of entrepreneurial leadership: “At a time when many around the world are looking to build walls, close doors, and limit interactions across cultures, the entrepreneur, by his or her own definition, is a bridge builder. A door opener. A problem solver. I salute you, the next generation of innovators and bridge builders.”

Kerry Healey

Photo: Webb Chappell
Babson President Kerry Healey

In 1919, when Babson was founded, classes were held at Roger Babson’s home on Abbott Road in Wellesley. Two years later, Roger purchased 125 acres of farmland to serve as the future campus for the young school, and in the nearly 100 years since, that campus has continued to grow and evolve. This fall, as I inducted members of the Class of 1967 into the Half-Century Club (one of my favorite events), many of those alumni remarked that they barely recognized the Babson campus—it has been so transformed over the past 50 years.

Today, we are embarking on our next wave of transformations and planning a campus for our second century.

In September, we broke ground on a new recreation and athletics center. This project is among the most ambitious ever undertaken by Babson. When completed, it will provide a venue for events and recreation, a place for members of our entire campus community to invest in their health and well-being, and a beautiful new home for Babson Athletics and our incredible scholar athletes (see “New Construction Project to Transform Campus Life”).

The Weissman Foundry, which also broke ground in September, will be a flexible maker space focused on hands-on experimentation and prototyping. Designed with input from Olin College, it is envisioned as a cross-campus workshop where entrepreneurs of all kinds can collaborate, turn ideas into action, and create tomorrow’s products and enterprises (see “A Hands-On Space for Students to Innovate”).

The Weissman Foundry is particularly special because it is named in honor of esteemed Babson alumnus and trustee Robert Weissman ’64, H’94, P’87, ’90, and his wife, Jan, P’87, ’90. This fall, we were delighted to announce that the Weissmans made a $36.6 million gift to Babson, bringing their lifetime support to a record $100 million. We are deeply grateful for the Weissmans’ commitment to our community and belief in Babson’s unique ability to advance entrepreneurship everywhere.

A portion of their gift will enable us to construct a new learning common and gateway to Horn Library, featuring a four-season garden, a cafe, collaborative work areas, informal gathering spaces, and a new home for the Stephen D. Cutler Center for Investments and Finance. It also will serve as a central location for Babson’s academic and extracurricular resource centers and provide additional classroom and office space.

As we approach our Centennial, we are excited to further create spaces that will enable Babson to remain the global leader in entrepreneurship education, attracting the best and brightest students from around the world, providing an unmatched student experience, and educating entrepreneurial leaders who will change the world for the better.

Kerry Healey

Photo: Webb Chappell
Babson President Kerry Healey

To make it easier for everyone to experience and connect with our incredible global community, we recently launched a new virtual resource to help you make the most of the Babson network. The Babson Connector is an online platform where our vibrant community can meet and support one another personally and professionally.

Using the Babson Connector, you can seek and apply for jobs and internships. You also can post jobs and recruit talent, participate in discussions on business trends and topics, connect with regional affinity and alumni groups, and stay up to date on Babson news and events here in Wellesley and around the world.

I think one of the most exciting features of the Babson Connector is that it allows members of the community to share and promote their ventures. You can seek feedback, funding, mentorship, and resources from the global Babson network. You also can share your wisdom and experience in support of a great idea or invest in a new and growing Babson startup.

Some of the most interesting Babson stories I have heard feature unlikely, often intercontinental, collaborations among former classmates, friends, and even students. When our community works together—connecting across industries, generations, and geographic boundaries—the results can have incredible and far-reaching impact.

Consider Tim DeMello ’81, P’18, who founded Gradifi, a student loan repayment solution that employers can offer as a benefit to their workforce. By drawing upon the resources of his vast Babson network, including some of his former rugby teammates, Tim launched and grew his latest venture, from finding early investors to locating office space to shaping company branding. Last year, First Republic Bank, led by trustee Jim Herbert ’66, acquired Gradifi. That is the power of the Babson network! (Learn more about Tim and Gradifi in the article Inside the Life, Times, and Napkin Sketches of a Serial Entrepreneur.)

With 40,000 alumni and friends in 114 countries, we can continue to amplify the strength of the Babson community if we all get involved. Your participation will make the Babson Connector a success. I encourage you to visit Connector.Babson .edu to log in and begin exploring the many ways you can stay connected to the Babson community. Together, we can create great social and economic value everywhere, have a positive impact on the world, and have fun doing it.

Kerry Healey

Photo: Webb Chappell
Babson President Kerry Healy

Many of the discussions at BCW focused on priorities identified in our Centennial strategy: family enterprise, women-led entrepreneurship, and social impact. Ramon Mendiola ’86, P’20, CEO of Florida Ice and Farm Co. and a newly appointed Babson trustee, led a lively discussion on the triple bottom line—people, planet, and profits. At Babson, social, economic, and environmental responsibility and sustainability are central to our curriculum. Ramon’s reflections reinforced the importance of preparing entrepreneurs to lead in a new way, creating social and economic value simultaneously.

We also were honored to induct Harry Susilo, P’96, chairman of Sekar Group, into Babson’s Academy of Distinguished Entrepreneurs. We heard from Harry and his daughter, Finna Huang ’96, about the extraordinary 50-year journey of the Sekar Group, which began as a small fishing operation in a poor rural village and has transformed into an international enterprise employing 20,000 people. Their insights into the opportunities and challenges associated with a large family enterprise further emphasized the critical role of Entrepreneurial Thought & Action in shaping successful family businesses.

The weekend ended with a beautiful reception and awards gala, during which Roshni Nadar Malhotra, executive director and CEO of HCL Corp., was presented with the 2017 Lewis Institute Community Changemaker Award. Both Roshni and her husband, Shikhar Malhotra ’04, are accomplished business leaders, passionate philanthropists, and trustees of the Shiv Nadar Foundation. They have been instrumental in the foundation’s mission to create educational opportunities and empower individuals to bridge socioeconomic divides. Roshni is the driving force behind VidyaGyan, a leadership academy for exemplary, underprivileged students from rural India. VidyaGyan nurtures future leaders who can act as catalysts for change, setting in motion a ripple effect of transformative social impact.

Babson Connect: Worldwide is one of the many ways in which we celebrate our global community and bring Babson to the world. Planning is already underway for our 2018 event. I hope you will join us next year in Madrid as we continue to innovate, collaborate, and explore the potential of entrepreneurs to change the world for the better.

Kerry Healy