Joint case by the SKOLKOVO Business School and Vladimir Potanin Foundation becomes a finalist in the EFMD Excellence in Practice Awards 2017
Moscow, June 28, 2017. – The business case Strategy for Creation and Development of Endowment Funds based on the results of a joint programme by the SKOLKOVO Business School and Vladimir Potanin Foundation became one of the finalists in the Ecosystem Development category at the EFMD Excellence in Practice international awards.
The programme Strategy for Creation and Development of Endowment Funds aims at developing non-profit government organisations and increasing the stability of professional NPO administration in Russia, and addressing the issue of effective funding of such organisations. The programme’s main focus is to train professional managers in the area of endowment development, and to create the necessary conditions for sharing experience and technologies. There were more than 30 participants, including employees of non-profit organisations, universities, museums, theatres, and charity foundations. The first enrolment for the educational programme took place in 2015. New students will begin studies in September 2017.
Veronica Misiutina, Head of SKOLKOVO Wealth Transformation Centre: “Today we can confidently specify the main reasons why it is not worth it to create endowment funds at this stage. First and foremost, it is due to the general “greenness” of Russia’s private capital, the immaturity of donors and fund-raising systems, the resulting importance of ongoing funding, and the restrictiveness of investment rules established by law. But we believe that endowment can be an effective tool, and that problems provide opportunities. Consolidation of the efforts by the business school and Vladimir Potanin Foundation provides an opportunity to create professional standards and ethics and to influence the regulatory environment”.
Marina Karban, Director of SKOLKOVO Corporate Programmes: “EFMD’s award serves as recognition of the high quality of our corporate educational programmes. The programme “Strategy for Creation and Development of Endowment Funds” was unprecedented in its scale and ambition for Russian non-profit sector. The results of this collaboration have demonstrated the large influence of young and ambitious social entrepreneurs on the development of non-profit organisations both in Russia and abroad.”
Each year, the panel of judges of the EFMD Excellence in Practice Awards selects the best cases created by business schools and corporate universities. The award received by the “Strategy for Creation and Development of Endowment Funds” case is the business school’s second award in 2017, and the third one since the school and the foundation started collaborating. In 2016, the SKOLKOVO Business School became the winner of the EFMD Excellence in Practice Awards (EiP), a prestigious international competition. The case study on the Management of Technological Innovations programme jointly implemented by the SKOLKOVO Business School and Rosatom State Nuclear Energy Corporation received a silver medal in the Organisational Learning and Development category. And in 2017, the business case Unilever Production Cluster in Tula: Zero Non-Hazardous Waste to Landfill in Ten Months became a winner in the Sustainable Production Systems category at the 2016 EFMD Case Writing Competition.
EFMD is an international association for the accreditation of European business schools and corporate universities. Its main task is to resolve issues related to business education, as well as to provide assistance in developing educational institutions and to set standards for the quality of business education by creating a unified assessment of the educational market throughout Europe. The cooperation between the Moscow School of Management SKOLKOVO and EFMD began in 2009, and in the spring of 2017 the Business School was granted the status of a full member of the Association.