Additional reporting and authorship by Morgan Roth.
Change is likely in Babson Global’s future. Two task forces, the College Integration Working Group and the Legal Financial Working Group, worked over the summer to provide restructuring recommendations. These include changing the initiative’s name, “limiting [Babson Global’s] mission to the fulfillment of two existing contracts,” “[Closing] down the E-Cities business line with [the] option to recoup Babson Global investment at a later date,” shifting the Global Consortium, E-Learning, and Goldman Sachs initiatives into the College, and “[putting] in place a new, formal vetting system within the College comprised of Academic and Administrative leaders to evaluate global opportunities going forward,” according to a September Faculty Senate Meeting minutes sheet.
Babson Global, Inc. is a 501(c)(3) tax-exempt organization that was started under previous president Leonard Schlesinger and has been active throughout President Healey’s term. Since 2013, Babson Global has taken on a diverse range of projects, including the Goldman Sachs 10,000 Small Businesses initiative, the Entrepreneurship Ecosystem Project, E-Learning, Enterprise Cities, and the Global Consortium of Entrepreneurship Educators (GCEE).
Some projects, like the 10,000 Small Businesses initiative, were already established before Babson Global was created. This project, launched by Goldman Sachs in 2009, has helped many people start businesses, and there are talks of bringing it back to Babson College in order to get students involved in the project.
Others, such as the Competitiveness and Enterprise Cities Project, also known as the E-Cities Project or CECP, have been met with some controversy. The project’s website states that it exists to “analyze the constraints to economic growth in a particular country, and develop a comprehensive set of solutions to those constraints across the dimensions of property rights protection, open trade, and domestic competition.” In some countries, this includes building Babson-endorsed centers in countries like Indonesia and Saudi Arabia. For instance, King Abdullah Economic City, a sprawling Saudi Arabian development, will be home to the Babson Global Entrepreneurial Leadership Center.
Two task forces, the College Integration Working Group and the Legal Financial Working Group, worked over the summer to provide restructuring recommendations.
Similarly, the Global Consortium met pushback from faculty, especially regarding intellectual property rights. This project enables international schools to purchase access to Babson resources. Some faculty were concerned about whether Babson was licensing their intellectual property, such as curricula, without their permission or compensation.
Others, like the E-Learning project, have had trouble getting off the ground. As of October 2015, there are no current E-Learning projects. The most recent initiative posted on the Babson Global website is a 2013 licensing deal with online course platform NovoEd.