With thanks to all who have invested in INSEAD for the next generation

The emotional highlight of the year was
undoubtedly the inauguration of the Claude and
Tuulikki Janssen Auditorium in Singapore. This
event formed the centrepiece of the INSEAD
Meeting in Asia in November 2006, but the
permanent naming of the main auditorium in
Singapore will ensure lasting recognition for
Claude Janssen, one of the key figures in the
school’s history, and his wife, Tuulikki.
As well as a new auditorium, we have a new chair
and chairholder. Christoph Loch becomes the
GlaxoSmithKline Chaired Professor in Corporate
Innovation as of this academic year. Other
notable corporate donors during the year
2005/06, including those who have given gifts
in kind (services or equipment), are: The Boston
Consulting Group; Cisco Systems; Citigroup;
Intel; L’Oréal; Roland Berger Strategy
Consultants; and Russell Reynolds.
Warm thanks also go to individual donors in
2005/06. INSEAD friend, Sir Win Bischoff, and
his family founded a scholarship for Southern
African and South East Asian MBA participants,
while Alexis Habib MBA ’81 and his wife Anne-
Marie created an MBA scholarship for talented
Lebanese participants. Tim Bovard MBA ’89J and
Andy Phillips MBA ’99J have together established
an Entrepreneurship Teaching Innovation Fund.
Finally, Andy Burgess MBA ’91D created both
a scholarship and a research fund for social
entrepreneurship, while John Jackson MBA ’71
and Eric Steiner MBA ’90D both made
unrestricted gifts - a valued form of donation that
enables us to attribute funds where they are
most needed.
As well as new gifts, 2005/06 brought other
highlights and growth – quite literally, in the
inauguration of the Hammer Roof Garden on the
Europe Campus, named after donors Hans
Hammer MBA ’98J and his wife Chantal. Three
floors down, the opening of the renovated lower
gallery gave MBA participants a stylish, high-tech
new workspace to be proud of. And the continued
generosity of Heinrich Baumann MBA ’72 and his
wife Esther, meant that our innovative elective in
partnership with top Californian design school,
Art Center, ran for the first time in Singapore.
Refocusing for the future
Two years into the Campaign, with a total that
exceeds our most ambitious projections and new
leadership for the school, we have decided to
refocus our fundraising efforts on four strategically
critical areas.
Scholarships for socio-economic diversity,
gender and excellence
Our first priority is to create full, endowed
scholarships to achieve genuine socio-economic
diversity. We do not want to be the business
school simply for the privileged world. In
addition, we continue to strive to attract more
women onto our degree and executive
programmes. True diversity, with all the creativity
and new perspectives that it brings, is about much
more than nationality. To achieve this, we need
not only more scholarships but also larger funds
that will cover full tuition fees. In addition, to
continue to attract the very best, we need to be
able to make awards on the basis of excellence.
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Leadership
Second, we seek to endow a centre of excellence
for leadership, bringing together all of the
school’s outstanding research and teaching work
into a single entity. It is our aim for INSEAD to be
known as the school that creates the next
generation of transcultural leaders – and the
centre will be the cornerstone of this reputation.
Social responsibility
Third, we are driving similar synergies for our
initiatives around social responsibility. INSEAD
is achieving so much in this field, but needs
funding to maximise the potential of our teaching
and research. Our achievements currently include
the work of the INSEAD Business in Society centre
of excellence, the INDEVOR initiative created by
MBA participants and the school’s Humanitarian
Research Group. Recent teaching innovations are
the INSEAD Social Entrepreneurship Programme
and the Executive Programme on Humanitarian
Operations directed by Professor Luk van
Wassenhove. It is intended that all activities
related to social responsibility will shortly be
managed by a new centre of excellence, to be
headed by Professor van Wassenhove.
Blue Ocean Strategy Institute
Fourth, we will found a Blue Ocean Strategy
Institute, based in Fontainebleau, to capitalise
on the outstanding achievements of Professors
Chan Kim and Renée Mauborgne. Their book is
certainly the most successful publication ever
to have emerged from INSEAD and the school has
now come together to build on its reputation and
to develop Blue Ocean into something much
more than a book.
The importance of endowment
Across all of these priorities we are placing
a renewed emphasis on our endowed funding,
for it is our endowment that will provide longterm
security for the school. A healthy endowment
will ease pressure on INSEAD’s operating budget
and will assure that the school’s values, rather
than short-term external forces, will influence our
decisions. To have achieved an endowment fund
of €75 million in just half a century of existence is
a remarkable achievement. Yet comparisons with
our North American peer schools reveal the need
to increase the fund dramatically in order to
compete on a more equal footing. As of this year,
therefore, all gifts over €250,000 will be invested
directly in our endowment and management of
the fund will be taken over by leading firm
Capital Partners.
A preview of the year to come
Although we will not have final figures until
January 2008, 2006/07 is already showing great
promise. To preview next year’s report,
Wolfgang Marguerre MBA ’72, founder of
Octapharma AG, has made the largest ever
pledge for an endowed scholarship from an
alumnus. His gift will provide scholarships for
MBA participants from the new EU accession
states. Philippe Houzé, Chairman of Groupe
Galeries Lafayette, also announced a generous
scholarship for women on the MBA programme
at the December 2006 graduation ceremony,
while an anonymous donor from Asia recently
promised €1 million, again for scholarships.