The HEC Foundation, created in 1972, has undergone a number of transformations during its history. 2004 saw an influx of new companies as well as the development of a new concept: the corporate endowed chair. The Foundation has also recently received contributions from major individual donors within the HEC alumni network. These changes saw the Foundation double its budget from €2 million in 2005 to €4 million in 2007.

A growing membership base

Jean-Marie Hennes, President of the Foundation, takes us through the two main changes: "Ten years ago, we had 25 members, all of which were French companies. Today, the Foundation includes 40 company members: a third are French companies from the CAC 40 (the French index of leading shares), a third are foreign companies (or their French subsidiaries), and a third are major small and medium-sized enterprises. We have recently seen the entry of major international players like UBS or Lehman Brothers. This clearly contributes to the international vision that is at the heart of the Foundation and of HEC School of Management."

Creating academic Chairs

This more extensive membership base is also actively involved in developing HEC Endowed Chairs. A relatively new concept for France, the Chair involves a commitment by HEC and the relevant company to develop expertise in training and research on a jointly determined theme, generally over a five-year period. The company benefits from close interaction with students and the academic community and maximum visibility vis-à-vis its own clients.

Recent Chairs include Energy and Finance with Deloitte, Growth Strategies and Integration Management with Atos Origin, Impact of Mobility on Organizations and their Management with Toshiba, Marketing Services with Accor, Air France and the SNCF and Corporate Finance with the Group Caisse d'Epargne. A new chair on management of the client relationship is currently under discussion with La Banque Postale.

A trend with momentum

Given that this is a new form of corporate philanthropy, the concept is still being refined. As a result, the content and form of the Chair can be adapted to the needs of each project and to the requirements of the company. All relevant terms and conditions are set out in carefully drafted agreements that also take account of matters such as intellectual property rights.

The whole process can take up to one year to get off the ground. Jean-Marie Hennes notes that, increasingly, it is the companies themselves that are triggering the process, a trend that can be expected to gain momentum as the concept becomes better known.