the university's renaissance thanks to his exemplary fundraising work. ... opportunity programs conducted ..... is a com
@hecfondation
www.facebook.com/FondationHEC State Approved Foundation (Decree of July 5th 1973) 1, rue de la Libération 78351 Jouy-en-Josas cedex
Tél: +33 (0)1 39 67 94 17 /
[email protected]
Crédits photos © Jean-Marc Biais - HEC Paris / © DATAGENCY / © Philippe Bauduin / © Russ Campbell / © Nicolas Reitzaum / © Bruno Treca - HEC Paris
www.fondationhec.fr
ANNUAL2015 REPORT RAPPORT D’ACTIVITÉ
2015
BIG PICTURE What a historic year
INSPIRATIONAL STORIES How the HEC Foundation supports the School
GREAT PERFORMANCES Thank you for your support
LETTER
FROM THE PRESIDENT 2015, what a historic year for HEC! A new Dean, a School on its way to independence, a strengthened partnership with the HEC Alumni association – these are all invaluable assets supporting HEC Paris’ ambition which is to become one of the world’s top Business Schools thanks to its European foothold.
For the very first time, a campaign was launched in support of entrepreneurship. We raised 185,000 euros thanks to 90 donors. These funds allowed the financing of five HEC Entrepreneur grants and a dedicated space in Paris for the members of the HEC incubator program.
Throughout our exchanges this past year, Our championing of research continues we have once again been greatly impressed to bear fruit: this year, the number of ‘A’ not only by our community’s goodwill, but publications is once again very high (close also by the pride that to 40) and the number the School inspires of FT publications in so many of you. is steadily growing. This feeling, along HEC Paris must with a sense of social actively and visibly Many thanks to the participate in the responsibility, is what makes up our daily development 3,000 donors and driving force. of the scientific to the 44 corporate u n d e r s t a n d i n g Many thanks to the of management; partners 3,000 donors and HEC must be at to the 44 corporate the forefront of the partners who have institutions where this enabled us to collect knowledge develops €12.3M in donations. but also spreads. Like us, they passionately share our belief in the School’s ability to maintain More than ever, the Foundation’s its tremendous momentum in a new ambition is to be a key support to the environment with many exciting challenges. School, through its sustained actions and constitution of significant reserve funds. Their commitment enabled us to fund 7% of the annual budget of HEC Paris. Our HEC Paris has entered a new era with support is built around three axes: social renewed ambition. To sustain the responsibility, pedagogical excellence, and School’s long-term influence and reach, innovative research. we need your support.
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”
Thanks to their donations, more than 600 students have received the Foundation’s aid through 208 need-based grants, 159 merit-based grants, 75 MBA grants, 71 loans to foreign students, as well as 66 doctoral grants. These figures speak for themselves!
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3000
HANSKS MANO YOUT R DONOR
DONORS IN 2015
T
156
MAJOR DONORS
TABLe OF CONTENTS BIG PI C T UR E
IN S PIRATIONAL STOR I ES
G RE AT PE RF ORMANC E S
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09
19
THE HEC FOUNDATION’S KEY FIGURES
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HEC FOR ALL, OUR program FOR talentED STUDENTs
2015 FINANCIAL HIGHLIGHTS
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HOW TO SUPPORT THE HEC FOUNDATION ?
2015, A HISTORIC YEAR
YASMINE, CHASING HER DREAMS
07
12
GOVERNANCE
EVALUATING HEC PARIS’ EQUAL OPPORTUNITIES PROGRAMS
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13
VOLUNTEERS GIVE TIME TO OUR FOUNDATION
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.320M €RA1IS2 ED IN 15 61%
FROM IENDS ALUMNI AND FR
39%
MÊME, A COMMITTED START-UP FROM THE HEC INCUBATOR
E
OUR MISSIONS
WHERE HAVE 100 EUROS BEEN INVESTED IN 2015? 27,1%
St u de n t Aid
13, 2%
PROMOTE SOCIAL AND CULTURAL DIVERSITY
C h a i rs e t c e n te rs
5,5%
R e s e a rc h
35, 2%
En d o w me n t and Capi tal Fu n d s
8, 2%
Pe d ag o g i c a l Innovat ion
10,8%
Ope rat ion al Cos ts
03
ESSENTIAL SUPPORT
TO SUCCESSFULLY CARRY OUT
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FOR THEIR GENEROSITY AND
AT FROM CORPOR PARTNERS
KNOWLEDGE@HEC, THE NEW KNOWLEDGE PORTAL AT HEC PARIS DIGITAL TECHNOLOGY SERVING PEDAGOGICAL INNOVATION
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CORPORATE PARTNERS
DEVELOP RESEARCH AT HEC PARIS
@
SUPPORT PEDAGOGICAL INNOVATION
BIG P IC T U R E
BIG PIC T U RE
2015,
A BRAND NEW statutE FOR
A HISTORIC YEAR
EVENiNG HEC PARIS AN FOr ‘égalité
SUCCESSFUL
FIRST STEPS AT HEC PARIS
FOR Peter Todd
Peter Todd has been the Dean of HEC since September 1, 2015, his official arrival date. He is the former Dean of the University of McGill’s Management Faculty in Montreal. As a Canadian Francophone and Francophile, he was the architect of the university’s renaissance thanks to his exemplary fundraising work. Succeeding Bernard Ramanantsoa (MBA.76), Peter Todd will be responsible for guiding the School through the numerous challenges it faces. His plan is to propel HEC Paris into the top 10 worldwide.
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new
partnerships
Air France and Orange became partners of HEC’s Center for Digital Transformation with AXA. This association will allow the development of a deeper understanding of digital transformation in France.
LVMH and HEC Paris have joined together to create the ‘General Management & Client Experience’ Chair. This Chair will help to deepen the issues of Retail and Management, on the basis of values of excellence and internationality which both institutions promote.
Altares became a member of the HEC Foundation. As a global pioneer of Data Economy, the business has launched a Think Tank about the impact of Smart Data with regard to the evolution of business models.
The company CMA-CGM, the 3rd largest shipping group in the world has committed with the HEC Foundation to contribute to the development of management science. Through funding for the Entrepreneurship Chair and the Entrepreneurship Center, L’Oreal wants to promote a high-level education in Europe in the field of management science.
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CAMPAIGNS FOCUS ON 3 ACTIONS SURPASSED EXPECTATIONS
THAT
A flash-fundraising campaign for entrepreneurship took place over three months from February to April. In order to develop entrepreneurship at HEC, €185,000 was raised, exceeding the €150,000 target. A huge thanks to the 90 donors! The donations received in the United Kingdom enabled the support of 39 Grande Ecole scholarships in 2015. Donations close to €590,000 were collected from 82 donors, including €283,000 via the Friends of HEC Charitable Trust. The 2015 edition of the Class Gift gathered more than 400 students from the graduating class in celebration of their connection to the School, and to its future. A new record was set, with more than €202,000 collected and allocated to need-based scholarships. Through their participation, students make their first gift to the HEC Foundation. Each year, these donations are matched by a Major Donor and allow the financing of scholarships.
Since January 1, 2016, HEC benefits from the new statute of ‘Etablissement d’Enseignement Superieur Consulaire’ (EESC) (Higher Education Consular Establishment), a key step to asserting itself on an international scale and attaining even more autonomy. This new statute will allow the School to be more reactive, while equally granting it control of a more flexible legal framework. This change allows the School to respond to increased financing needs, while providing it with greater management agility. For the first time, HEC Foundation and HEC Alumni have seats on the new Board of HEC Paris.
HonorARY AWARDS
ceremony
On Thursday, March 12, 2015, HEC Paris organized an Honoris Causa award ceremony on behalf of Pierre Bellon (H.54), Daniel Bernard (H.69), Philippe Foriel-Destezet (H.58) and Didier PineauValenciennes (H.54). These four illustrious alumni and major donors participated in a round-table, led by two students, on the theme: ‘From Entrepreneur to General Director: Interweaving Paths of Four Exceptional HEC Alumni’.
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des chances’
AT HEC Paris On Thursday, December 17, the School and HEC Foundation organized the first HEC ‘Egalité des Chances’ evening. This event was the opportunity to present both the actions led by the School and the Foundation, and the results of the impact studies on the equal opportunity programs conducted this year. Thank you to the hundred attendees for their presence!
Inauguration OF Laurence AND Jean-Marie
Hennes' CLASSROOM On September 17, 2015 the School and the HEC Foundation welcomed Laurence and Jean-Marie Hennes, both graduates from the HEC MBA and Major Donors of the Foundation. They were invited for the inauguration of a classroom bearing their names. The generosity of this couple, their inspirational involvement and their ongoing support to the development of HEC Paris were warmly acknowledged by Peter Todd, General Director of HEC Paris and Bertrand Léonard (H.85), President of the Foundation.
BIG PIC T U RE
GOVERNANCE
A RECOGNIZED PUBLIC-INTEREST ORGANIZATION, THE HEC FOUNDATION HAS TRANSPARENT AND RIGOROUS MANAGEMENT
BOARD OF DIRECTORS ANNUAL FINANCIAL STATEMENTS
VOTES ON THE BUDGET
3
FULL
MEMBERS
5 MEMBERS 7 QUALIFIED FOUNDING
INDIVIDUALS
VOLUNTEERS
GIVE TIME TO OUR FOUNDATION TOGETHER WITH HEC PARIS’ STAFF Board of Directors Domenico Azzarello, Bain & Co Daniel Bernard, H69 Provestis Anne Bosche-Lenoir, H81 SNCF Proximités Eric Bulle, H81 PricewaterhouseCoopers Bertrand Cardi, H96 Darrois Villey Maillot Brochier Henri de Castries, H76 AXA Emmanuel Chain, H85 Eléphant & Cie Alexandra Claudios, Ministère de l’Intérieur Bertrand Léonard, H85 Avesnes Invest Catherine Malinie, Ministère de l’Enseignement supérieur et de la recherche Henri Proglio, H71 EDF Bruno Rain, H83 Pernod Ricard Jérôme Tixier, L’Oréal Peter Todd, HEC Paris Committees
CLERK IMPLEMENTS THE STRATEGIC ORIENTATIONS DECIDED BY THE BOARD OF DIRECTORS COMPOSED OF MEMBERS FROM THE BOARD OF DIRECTORS AND PERMANENT GUESTS
Campaign Committee
Investment and Risk Committee
Research Committee
Pedagogy and Diversity Committee
DETERMINES THE APPROPRIATE MEANS TO ACHIEVE THE FUNDRAISING GOALS
SECURES OPTIMIZED MANAGEMENT OF FUNDS
SELECTS RESEARCH PROJECTS AND FOLLOWS THEIR ADVANCEMENT
TRACKS THE EVOLUTION OF PROGRAMS SUPPORTED
FOUNDATION TEAM coordinates the operational management of fundraising
Blaise Allaz, HEC Paris Dominique Banier, H67 Pascal Baumgarten, H98 Europ Assistance Anne-Claire Berg, E14 Danone UK Hélène Bermond, HEC Paris Florence Bernard, L’Oréal Michel Bilger, H80 Crédit Agricole SA Mathieu Blanc, H96 Raise Dimitri Boulte, H01 Société Foncière Lyonnaise Anne-Sophie Bourgeois, Groupe Crédit Agricole SA Annick Briançon-Bulle, H85 PricewaterhouseCoopers Emmanuelle Brizay, H01 WMI Séverin Brizay, H93 UBS Elizabeth Buckley, H87 Eric Bulle, H81 PricewaterhouseCoopers
Philippe Cerf, H86 Crédit Suisse Constance Chalchat, H93 BNP Paribas SA Sylvie Chamberlin, H85 CHS Conseil Virginie Chauvin, H91 Mazars Anne-Elise Chevillard, AXA GIE Barbara de Colombe, Fondation HEC Olivier Combastet, MBA86 Pergam Finance Ulrike Decoene, AXA GIE Jean Deichtmann, Thomson Reuters France Pierre-Olivier Desaulle, H86 Hiscox Europe Anne-Laure Despeaux, LVMH Gaël Dutheil de La Rochère, H88 Comeca Stéphane Etroy, H96 Caisse des depots du Quebec Isabelle Fabre de Morlhon, H05 Jean Fau, H93 Chenavari Investment Managers Laure Fau, H94 Olivia de Faÿ, Mazars Patrick Ferraris, Capgemini Consulting Loïc Fery, H97 Chenavari Investment Managers Paul Gagey, Aviva investors Marguerite Gallant, H03 HEC Paris Benoît Gallot, Thomson Reuters France Raphaëlle Gautier, H02 HEC Paris Mathieu Gaveau, H98 BNP Paribas SA Nathalie Gaveau, H99 Shopcade Ltd Camille Genevard, H11 MedicAnimal.com Clémentine Giannini, H02 Linklaters LLP Antoine Giuntini, H05 Procter & Gamble France Frédéric Gourd, H96 Deloitte & Associés Alexis Grabar, MBA02 Victor Nadia Guermazi Renucci, BNP Paribas Raphael Gusdorf, AXA André-Benoît de Jaegere, Capgemini Consulting Jean-Charles Jaïs, H04 Linklaters LLP David Jestaz, EDF Charles-Edouard Joseph, H98 Boussard et Gavaudan Asset Management - BG Partners LTD
Barbara de Colombe
Sara Kokot, EY & Associés Fanny Lefebvre, Accenture France Nadine Lemaître, ENGIE Be Arielle Levi, H87 Allfine Nathalie Lugagne, HEC Paris Clarisse Magnin-Mallez, H00 McKinsey & Company Andréa Masini, HEC Paris Valérie Mathérion-Ledjam, Allen & Overy LLP Sylvia Metayer, H86 Sodexo Jacques Olivier, HEC Paris François-Xavier O’Mahony, H96 Accenture France Bernard Perot, H74 KPMG Audit Anne Perrin-Vujasinovic, H87 Meteojob Béatrice Perrot, BNP Ressources Humaines Groupes Eloïc Peyrache, HEC Paris Bertrand Pointeau, H82 Bain & Co Vincent Ponsonnaille, H96 Linklaters LLP Serge Pottiez, H96 EY & Associés Anne Pruvot, H95 Accenture France Florence Real, Accenture France Thomas Reynaud, H96 Free Iliad Benoît Roger-Vasselin, Publicis Groupe Elisabeth Roumegoux-Rouvelle, H88 KPMG Audit Didier Rousseau, E92 Weave Bénédicte Rousseau-Champenois, H88 Karim Saddi, H97 TowerBrook Capital Partners Karine Sanouillet, H89 Association HEC Alumni Sophie Serratrice, Crédit Agricole SA Evelyne Sevin, H80 Egon Zehnder Marie-Pierre Seyfried, HEC Paris Anne Veaute, H85 Mazars Florence Vellutini Cerf, MBA86 British Red Cross Gilles Wozelka, Neopost SA
André-Benoît de Jaegere
Executive Director, HEC Foundation
Capgemini Consulting
”
I would like to thank our 80 volunteers, our dedicated donors and the representatives of corporate partners, who are involved in our governing bodies. Volunteers devote their time and energy, and share their skills and expertise, to ensure the proper functioning of our Foundation. The only compensation that we can offer them: acknowledgement and respect. Dear volunteers and donors, if we can give so much impact and meaning to our fundraising actions, it is thanks to you! THANK YOU!
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”
Getting involved with the Research Committee – it’s about the pride of participating in the School’s projects, the opportunity to meet the members of a community of excellence and having access to new knowledge and know-how transmitted by the School.
IN SP IRATION A L STOR I E S
INS PIRAT IONA L STO R IES
‘HEC For ALL’
OUR program FOR talentED STUDENTS Sebastian REETZ In 2009, the school introduced ‘HEC for all’, a program run by the HEC Foundation to open the School’s offerings to people of all talents. With this program, the Foundation supports talented students, regardless of their social or geographical backgrounds.
Student, MBA Program
”
Thanks to the donors, I was able to take advantage of many opportunities at HEC. I was able to learn and work with people from very different backgrounds Russian engineers, Indian poets, American entrepreneurs...
Iliana MIMOUNI Student, Grande Ecole Program
HIGH SCHOOL AND ‘classe prEparatoire’
To accompany students who benefit from state-scholarships, the Foundation has developed with The Frateli Association a partnership called ‘A Mentor for Success’. Students are thus monitored and counseled by voluntary young graduates from HEC Paris. Coming from all over France, students benefit from a tailor-made academic mentor program. In 2015, Frateli accompanied more than 144 students in this partnership. The Foundation also offers over 115 merit-based scholarships to students of 15 general-education or technological-education partner high schools, a financial assistance which enables them to focus on their studies and to serenely prepare for the entrance exams.
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The grant that I received from the HEC Foundation allowed me to undertake my studies with peace of mind, knowing that I wasn’t weighing financially on my family. In my turn, I hope one day to be able to help other students finance their studies and achieve their goals.
In 2015... 54%
ONCE ON campus Every year since 2009, the HEC Foundation has provided hundreds of students with a scholarship covering all or part of their tuition fees. Each year, 20% of students benefit from financial assistance. More often than not, this scholarship proves essential to these young talents to gain access to the School and develop their full potential.
M €stu3de,8 nt aids 22%
20%
Boris VallEe Assistant Professor of Finance Harvard Business School
4% The social impact of the Foundation is also conveyed through a commitment to embrace cultural diversity, to allow HEC to continue to be a cosmopolitan institution that is open to worldwide talent. In order to attract and assist talents globally, the Foundation funds merit-based scholarships and academic mobility scholarships as foreign students often face difficulties in accessing student loans. In 2014, the Foundation also signed a partnership with Prodigy Finance to help students benefit from loans financing their education. Today, 95 loans have already been granted.
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Grande Ecole Program
MBA Program
”
High PhD Program Schools
Thanks to the Foundation’s financial aids, I was able to spend nearly a year in one of the best American universities, an experience that was a key asset in searching for employment. My PhD at HEC Paris enable me to reconcile the ‘best of both worlds’, a mix between the European and the American models!
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IN SP IRATIONA L STOR I E S
Successfull year!
YASMINE
CHASING HER DREAMS YASMINE (H.15) is one of the hundreds of young people the Foundation has assisted for many years. She tells us about the support she received from the Foundation and its donors, without which she would never have been able to attend HEC.
What was your life like before not for us, it doesn’t even cross our mind. joining HEC? So in the end, how did you manage On paper, I wasn’t really destined for to get into HEC? an HEC education. I grew up a few kilometers from the Paris peripherique, in a suburb inspired by the ugliest of Le Corbusier’s works. I started school in a so-called “difficult” institution, where I nonetheless received a remarkable education from my passionate and dedicated teachers. I grew up in a family of immigrants, not povertystricken, but very modest. I never had a bedroom or desk to myself, simple pleasures were rare, but I had everything I needed to get by.
Did you ever dream of studying at HEC? Where I come from, getting your high school diploma is an end in itself. HEC just isn’t a possibility, not only because of financial barriers but also symbolic ones. Nobody talks to us about it, and no one believes we can do it, it’s another world,
I totally abandoned the idea to begin with. I dreamed of going to an HEC prep school, my teachers encouraged me but my mother made it very clear that financially, a business school would be hell for us, it was simply unimaginable. A few years later, after studying Engineering, I was given the possibility to enrol at HEC in a double degree program. This time I decided to seize the opportunity because a lot had changed in the meantime: the Foundation was now there to help! The support for scholarship students meant my dream could now become a reality.
How valuable was the Foundation’s help? Without this opportunity, I swear it, I wouldn’t have even attempted the
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entrance exam. It was an impossible dream coming true. I succeeded in joining HEC and every day I’m amazed by what the school has to offer me, the wealth of people it’s made up of, the great melting pot of ideas brewing here. Thank you to the Foundation for helping me get here.
What would you like to say today to the donors? When I go back home, I try to convince the young people there to believe in their talent, because people like the Foundation’s donors could be their lucky star. They might have to defy destiny a little, but there are guardian angels looking out for them. By donating to the HEC Foundation, you are helping make French society more progressive, inspiring ambition in young people who didn’t even believe they had a right to it. I can’t wait to be able to do the same later in life and prove to the skeptics that solidarity is a powerful bond.
EVALUATING HEC PARIS’ EQUAL OPPORTUNITIES PROGRAMS Fiercely dedicated to equal opportunities, the Foundation is always looking to evaluate the efficiency of its actions. In 2015, a study was carried out with the consulting firm “Im-prove” to measure the impact of the four main programs and improve them. In the end, the results are clear: young people leave the programs more ambitious and with increased self-confidence, while scholarships relieve students’ financial burdens and contribute to their sense of belonging and commitment to the HEC community.
pACE Program
PREPA Scholarships
Young people who develop a new relationship with the school and commit themselves more fully to their studies
Beneficiaries less stressed by the burden of their studies and more focused on their success
65% 68%
84% 89%
intend to pursue further education
realize the importance of academic results
pREP Program Students who feel better equipped and encouraged to reach new heights
63% 79%
have increased self-confidence
feel valued and proud to have taken part in an HEC program
PACE PROGRAM High school students from at-risk neighborhoods
.
PREP PROGRAM Scholarship students from ‘classes préparatoires’ specializing in technology and economics
.
PREPA SCHOLARSHIPS Scholarship students from ‘classes préparatoires’ in general studies
. HEC SCHOLARSHIPS HEC Paris’ talented students supported by CROUS
feel calmer about pursuing their studies
believe that their scholarship motivates them to excel and succeed
HEC Scholarships Beneficiaries free from financial burden showing commitment to the HEC community
90%
believe their scholarship took pressure off their family
80%
High school students from atrisk neighborhoods
See the whole study on our website (study in French)
www.fondationhec.fr/nos-actions/louverture-sociale-et-culturelle/
IN SP IRATION A L STOR I E S
INS PIRAT IONA L STO R IE S
Knowledge@HEC THE NEW KNOWLEDGE PORTAL AT HEC PARIS
KNOWLEDGE@HEC IS THE NEW SPACE FOR KNOWLEDGE AT HEC PARIS. THE PORTAL IS DEDICATED TO FACILITATING THE EMERGENCE OF NEW IDEAS AND TO GIVE HEC FACULTY THE OPPORTUNITY TO SHOWCASE THEIR WORK TO A LARGE NUMBER OF READERS. REFLECTIONS ON THE SUCCESS OF THIS PORTAL AND ITS USE FOR CURRENT AND FUTURE MANAGERS THROUGHOUT THE WORLD.
KNOWLEDGE HEC, KEY FIGURES BEST-SELLERS
235,500
The three most-read articles from Knowledge@HEC in 2015
VIEWS
150 PUBLIsHED
What does the future hold for luxury? July 2015 Jean-Noel Kapferer, Professor of Marketing
knowledge@HEC
2,200
articles
followers
199,000 unique visitors
123,000
How to abandon budgets for the good of the company? February 2015 Sebastian Becker, Professor of Accounting & Management Control
How personality traits influence sensitivity to technostress November 2015
Shirish C. Srivastava, Professeur of Operations Management and Information Technology
subscribers to the bimonthly newsletter
Faculty Day, septembre 2015 With healthy competition on the rise between international business schools, one of HEC’s main missions is to insure the standing of French Higher Education. This is the reason why the HEC Foundation has chosen to finance the research led by HEC Faculty. However, simply producing cutting-edge research is not enough, HEC Paris must therefore promote the accessibility and distribution of knowledge as much as possible. This mission of Knowledge@HEC is to give readers the opportunity to discover the varied and high-quality research conducted by HEC researchers. The portal has invested in new ways of displaying content; making it easily accessible for readers. The portal regularly features videos, interviews and editorials in order to present the work done at HEC in a more modern and impactful manner. Food for thought for managers: the aim of Knowledge@HEC is to provide information in order to equip business leaders in their strategic thinking. Among the articles published, there is an emphasis on innovation, as well as the involvement of research dedicated to companies and their economic environment.
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‘ The research developed at HEC must not only influence public debate and managerial practices, but also give rise to unique and innovative courses. It is therefore imperative that we attract and retain the best teachers in their fields.
’
Jacques Olivier Dean of Faculty and Research
RESEARCH IS A PRIORITY FOR THE HEC FOUNDATION...
138
782,570€
7 85
dedicated to research in 2015
permanent research professors at HEC Paris in 2015-2016 supported by the Foundation professors were recruited in September 2015 scientific articles published including 42 A articles (best academic journals) and 31 FT articles
...AND FOR OUR CORPORATE PARTNERS FINANCING:
15
chairs of research and teaching
3 14
centers
1
research observatory
IN SP IRATIONA L STOR I E S
INS PIRAT IONA L STO R IE S
Emma France
DIGITAL TECHNOLOGY
DEVELOPING DIGITAL ENTREPRENEURSHIP
student from the Major in Digital Entrepreneurship program
”
The Major in Digital Entrepreneurship pushes us a lot and promotes the spirit of startups, including performing tests, taking risks and being challenged at every moment. The subjects are varied and the dynamics are rich thanks to the group work. We work with designers and developers that know how to do things we couldn’t do, and vice versa. For us, the partnership is above all an incredible opportunity to learn how to be open-minded and daring. Today, I am creating a project with a digital entrepreneur - speaker at HEC Paris, one student from Télécom Paris and another from 42!
SERVING PEDAGOGICAL INNOVATION The Foundation’s support of HEC Paris means that the School, as well as its students, can anticipate the speed at which digital transformation is occurring, understanding what is at stake. From this point forward, digital technology is at the heart of management training. It is also an important subject for research, as well as an innovative and interactive pedagogical tool.
SUPPORTING THE DEVELOPMENT OF MOOC For several years, MOOC (Massive Open Online Courses) have helped traditional organizations from the Higher Education sector to evolve. The online courses, which are free and available to everyone, have transformed modernday teaching and suggest that this is only the beginning. In 2015, six MOOC have been developed by HEC Paris and made available online through the ‘Coursera’ platform. These new courses cover a variety of different subjects from ‘Renewing the sense of belonging in individuals’ to creating technological startups. By gathering hundreds of thousands of participants from across the globe, the courses contribute tremendously to the reputation and international presence of the School. These interactive courses have opened doors to great opportunities in Africa where many students and Francophone entrepreneurs can enroll in different programs. The new teaching methods play a vital role in diffusing knowledge on a global scale: the MOOC have allowed the School to multiply the traditional audience for courses by more than forty!
MOOC 6
launched in 2015
180,000 enrolled since the beginning
45 to 68%
of the participants are non-European
200 nationalities 15
42
is a computer programming school launched in 2013 by the founder of Free, Xavier Niel. The school is open to all young persons between the ages of 18 and 30, with no degree requirement. The school provides training in innovative computer programming based on disruptive pedagogy.
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In June 2015, HEC Paris and Ecole 42 signed a partnership agreement to encourage the development of digital entrepreneurship and the creation of startups. With this partnership, based on the complementary nature of disciplines and profiles, the School wishes to unite its entrepreneurial expertise with the creative and technical skills of 42. With the blending of HEC and 42 students, as well as students from the design schools of Gobelins, the Major in Digital Entrepreneurship is the best symbol of this partnership. Composed of multidisciplinary groups, students work on different challenges, from the introduction to coding to hackathon events. They deliver a presentation on their project to a jury composed of members from the different schools as well as other professionals. This short program is conceived as a project accelerator that uses the principle of learning by doing. The partnership will help to unite talented individuals and promote the creation of startups in France as well as abroad.
IN SP IRATIONA L STOR I E S
’This venture would not have been possible without the HEC Incubator. ’
MêME,
A COMMITTED STARTUP FROM THE HEC INCUBATOR AT THE HEART OF THE ENTREPRENEURSHIP CENTER, SUPPORTED BY THE FOUNDATION, THE HEC INCUBATOR HAS ENABLED THE CREATION OF NUMEROUS SUCCESSFUL BUSINESSES. SPOTLIGHT ON MÊME, AN UNIQUE COSMETICS COMPANY ASSISTED BY THE INCUBATOR IN 2015.
Motivating students to take risks, to innovate, to create value... Entrepreneurship is at the heart of HEC’s philosophy. Newly graduated, Juliette and Judith, both 24 years old, threw themselves into the MÊME venture in January 2015. Guided by the HEC Incubator, they created a brand of beauty and skincare products designed specifically for women suffering from cancer. ‘This venture would not have been possible without the HEC Incubator. Thanks to it, we were put in contact with key figures who helped us transform our project into a real
business,’ explains Juliette. At the heart of this business? A vow: to help cancer survivors to preserve their femininity and protect their self-esteem, to bring them joy and make them feel stronger in the face of the disease. In addition to their line of products, which will go on sale in 2016, MÊME is committed to providing support to patients and their families. With this in mind, Juliette and Judith have created a blog gathering all the beauty/wellness knowledge they have acquired since they embarked on their venture: http://memecosmetics.fr/blog
Juliette (H.15)
HEC INCUBAToR
Key
figuREs
166 BUSINESSES CREATED SINCE 2007
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THREE WAYS THE HEC FOUNDATION FUNDS ENTREPRENEURSHIP
businesses incubated EACH YEAR
@
The eLab
A space for exchange and dialogue for aspiring entrepreneurs, facilitating cooperation and interaction
3/4
of ventures still in operation since their creation
HEC Incubator
To accompany, for 12 months, entrepreneurial projects led by HEC community
Please visit
www.hec.fr/incubateur-hec
HEC Entrepreneurs grants
Financed in partnership with the organization ‘Nos quartiers ont du talent’
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G RE AT P E RF O R M A N C E S
ANALYSIS OF YEAR-END FINANCIAL STATEMENTS The continued efforts made by the HEC Foundation and the Corporate Partnerships & Careers teams have maintained a high level of pledges and gifts, between two campaigns.
2015 FINANCIAL HIGHLIGHTS
This prospection drive allowed us to obtain the support of 4 new major donors and 6 new corporate partners. The total number of donors has increased (3,000 donors in 2015 v 2,500 in 2014). Our efforts in building loyalty have also resulted in numerous renewed donations throughout the year. Exceptional financial results lead to a €1.5m profit thanks to the investment policy put in place by our Investment Committee. More money is being allocated to financing projects with an 8% increase: 7.7 million euros, which is allocated up to 50% on student aid, 25% on Chairs, 10% on research and 15% on pedagogy.
THE HEC FOUNDATION’S FINANCIAL STATEMENTs TOOK STOCK OF ITS ACTIVITY AND FINANCIAL SITUATION IN RELATION TO ITS PRINCIPAL AIMS. IT HAS BEEN ESTABLISHED BY THE HEC FOUNDATION TEAM, THEN VERIFIED AND CERTIFIED BY AN AUDITOR (CABINET MMP AUDIT), APPROVED BY OUR BOARD OF DIRECTORS* and TRANSMITTED TO THE MINISTRY OF THE INTERIOR. *Approved by our board of directors on March 24, 2016
FINANCIAL ANALYSIS During 2015, the amount of assets under management has increased from €50.6m to €55.7m, thanks to sustained fundraising and financial performances to the value of €2m, which equals a 3.5% return on assets. Taking market trends into account, the committee has decided to maintain a high level of cash and short term assets (38%) and fixed income investments (39%). Listed equities exposure has risen to 20%.
Investment securities
2014
51,178,904
48,513,988
2015
2014
Donations collected during the year
12,277,307
12,877,288
Individuals
7,532,873
8,238,288
Corporate Partners
4,744,434
4,639,000
2011
18,6
29,7
- 0,7%
Financial and exceptional results
1,428,935
1,475,560
2012
25,6
37,4
5,6%
TOTAL INCOME FOR THE YEAR
13,706,242
14,352,848
2013
32,2
44,1
3,5%
Variation for dedicated funds and others
871,116
746,825
2014
38,5
50,6
4,3%
Donations deferred for future projects
-584,019
-1,814,688
2015
43,5
55,7
3,5%
Use of dedicated past funds
1,406,814
2,353,607
Reversal of provisions and other products
48,321
207,906
Resources AVAILABLE FOR THE YEAR
14,577,358
15,099,673
Financed projects
7,727,065
7,136,081
Student Aids
3,886,523
3,252,442
Chairs
1,884,441
1,736,536
Research
782,570
1,053,112
Teaching
1,173,531
896,752
LIABILITIES
2015
Financial yield
2014
43,523,604
38,482,419
Operational cost
1,123,969
1,077,957
7,716,648
Running cost
435,139
397,704
4,938,969
4,121,609
Partnership with HEC Alumni
250,000
250,000
55,356,425
50,320,676
TOTAL EXPENSES FOR THE YEAR
9,536,173
8,861,742
NET INCOME
5,041,185
6,237,931
3,232,049
966,856
Dedicated funds
6,893,85
Other assets
945,472
839,832
Debt and other liabilities*
55,356,425
50,320,676
TOTAL
* Debts composed of expenses to be paid to finance projects
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197,239
International communication
Endowment capital and reserves
Liquid assets
TOTAL
PROFIT AND LOSS ACCOUNT AS OF 2015/12/31 (€)
Assets under management (M€)
BALANCE SHEET AS OF 2015/12/31 (€)
2015
The net profit of 5 million euros will increase our endowment and reserves to a total of 43.5 million euros. This will aim to ensure a sustainable income for the school.
Endowment (M€)
The committee carried a review of the Asset Allocation in order to diversify the portfolio. The objective being to secure relatively stable returns while maintaining a low level of risk.
ASSETS
Collection and operating expenses grew from 9.9 to 10.8%.
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G RE AT P E RF O R M A N C E S
HoW TO sUPPORT
THE HEC FoUndation? YOU’RE AN INDIVIDUAL?
YOUR CONTACTS AT THE HEC FOUNDATION
Are you a former student, manager or friend of HEC who wishes to support HEC Paris development projects and the Foundation? You can make a donation:
OnLINE give.fondationhec.fr
BY chECK made out to HEC Foundation 1, rue de la Libération 78351 Jouy-en-Josas cedex FRANCE
BNP Paribas Centre d’Affaires Ile-de-France Ouest RIB : 30004 01412 00021290230 47 IBAN : FR76 3000 4014 1200 0212 9023 047 SWIFT ou BIC : BNPAFRPPPAA
Mickael BOUSSUGE Finance and administrative manager +33(0) 1 39 67 71 96
[email protected]
YOU WISH TO DONATE FROM ABROAD?
Marianne DUVAL Bequests and gifts coordinator +33(0) 1 39 67 98 87
[email protected] Marie-Helene GILLE Donors relations manager +33(0) 1 39 67 74 14
[email protected]
You can equally opt for regular and sustained support by choosing Automatic Funds Transfer.
Claire GROSSIN Assistant +33(0)1 39 67 98 86
[email protected]
amounts to
€ 25
FRENCH RESIDENT?
€ 34
Alice GORGE Director of Development Major Donors +33(0) 1 39 67 97 02
[email protected]
€ 100
Finally, it is possible to support us through bequests, life-insurance policy, planned giving, stock-options and/or company shares.
Marianne KALDI Database coordinator +33(0) 1 39 67 74 10
[email protected]
after wealth tax reductions(1) after income tax reductions(2)
(1) Up to a maximum of €50 000 for donations made before the tax return deadline: (i) for french residents (for a taxable net wealth between €1.3m and €2.57m – form no. 2042C) deadline on May 18, 2016 for the paper form. (ii) for french residents (for a taxable net worth greater than €2.57m – form no. 2725) - deadline on June 15, 2016 for the paper form. (iii) for non-residents (form no. 2725) - deadline on July 15, 2016 for the paper form. (2) Up to 20% of taxable income for donations made before December 31, 2016. When the amount of donations exceeds this limit, the excess is carried forward to the next 5 years and is eligible for tax reduction under the same conditions.
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Becoming a corporate partner of the HEC Foundation is an opportunity to develop a privileged relationship with our institution and our students. This longstanding tradition of cooperation with the business world can take many forms: financing a research project, creating a reserch center or chair, becoming a sponsor or financing student scholarships... Your support as a corporate partner will allow you to strengthen your company’s presence and image as a top employer in the eyes of our students. You will also be involved in the strategic development of HEC Paris at the heart of our pedagogical commitee and/or research committee. Business donations are tax deductible up to 60% within the limit of 5% of the company’s turnover. (Art. 238 bis General Tax Code).
Marie DOLET Communications and Marketing coordinator +33(0) 1 39 67 95 61
[email protected]
to the account HEC Foundation (please provide your name in the wire)
YOUR contacts Corporate Partnerships & Careers
Patricia DE BEAUFORT Assistant +33(0) 1 39 67 94 17
[email protected]
Barbara DE COLOMBE Executive director +33(0) 1 39 67 97 07
[email protected]
BY BANK WIRE
YOU’RE A BUSINESS?
Lea SARICA Director of Development Annual Fund +33(0) 1 39 67 97 37
[email protected] (being recruited) Director of International Development +33 (0)1 39 67 97 78
Raphaëlle GAUTIER (H.02) Executive Director +33(0)1 39 67 73 58
[email protected] Marie-Pierre SEYFRIED International Development & Stewardship Director +33(0)1 39 67 74 04
[email protected] Sophie BRICAGE France Development Manager +33(0)1 39 67 95 19
[email protected]
Please visit our website
If you wish to support the development of HEC Paris whilst benefiting from tax reductions in the UK, US, Switzerland, Germany, Belgium, Spain and Italy, all you need to do is contact our local partners.
www.fondationhec.fr/nous-soutenir/ donner-depuis-linternational/
HEC Alumni, AN Association IN MOVEMENT
A STRONG NETWORK
The HEC Foundation and HEC Alumni work in close collaboration to promote HEC and increase the added value of the HEC network. Presided by Emmanuel Chain (H.85), HEC Alumni: - coordinates the alumni network in France and throughout the world. - accompanies alumni throughout their career wherever they might be: (meetings, individual interviews, job offers and webinars in partnership with the school. - promotes HEC through the organization of prestigious events, and meetings with high-profile speakers in France and throughout the world. HEC Alumni, declared a public utility, is able to propose its initiatives and services, thanks to the payment of annual membership fees and the active contribution of more than 1,000 volunteers.
52,000 ALUMNI
4 pROGRAMS: MBA, Grande Ecole, Executive Education, PhD PROGRAM
A DIGITAL NETWORK
21,000 membeRs ON LinkedIn
MORE THAN 6 000 followers ON twitter AND 5 000 fans ON faceboOK
For more information: +33(0) 1 53 77 23 23 -
[email protected]
A WORLDWIDE NETWORK
YOUR CONTACT AT HEC ALUMNI Karine SANOUILLET (H.89) General Manager +33(0)1 53 77 23 24
[email protected]
8,500 Alumni ABROAD
www.hecalumni.fr
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75 chapters AND MORE
THAN 200 EVENTS A YEAR WORKSHOPS, MEETINGS, galas…
