The list of business school graduates who have made a global impact includes the likes of Mary T Barra, the General Motors CEO who oversaw the development of the world’s first electric vehicle with a range above 200 miles; big tech CEOs like Google’s Sundar Pichai and Apple’s Tim Cook; and change-makers like Sallie Krawcheck, the CEO of all-women investment firm Ellevest who is seeking to close the gender investing gap.
Within a business landscape that's increasingly focused on transitioning towards a greener economy and more sustainable practices, business schools, too, are adapting their curriculums to help train a new generation of socially conscious and responsible business leaders who can make an impact.
For entrepreneurially-minded students, sustainability is also a key growth area where signs indicate they will find a wealth of opportunities in future—according to a recent Morgan Stanley report, a majority of investors say they plan to increase sustainable investments in the near future.
The link between social entrepreneurship and business schools was a key driving force behind the launch of the INNOVA Europe competition in 2022, a startup competition jointly initiated by EDHEC Business School, POLIMI Graduate School of Management, and ESMT Berlin.
The competition targets solutions to the 17 United Nations Sustainable Development Goals (SDGs), which encompass a range of key societal issues, including: gender equality, clean and affordable energy, and reducing global poverty.
At the grand finale of the second annual INNOVA Europe competition, held recently at the prestigious STATION F startup incubator (pictured below) in Paris, students from nine top European business schools presented their innovative solutions to various pressing society issues, competing for incubator support and prize money worth €25k in total.
“Entrepreneurship is key to regenerating the economy and our society at large, and it is BNP Paribas’ ambition to empower the builders of a better, fairer, and more sustainable world,” said Antoine Sire, senior advisor for Impact Economy and Social Inclusion for BNP Paribas, one of the key sponsors of the competition.
©WIPO. Photo: Benoît Apercé. This work is licensed under a Creative Commons Attribution 3.0 IGO License.
INNOVA Europe: Where student entrepreneurs fight society’s key challenges
As the winner of the inaugural INNOVA Europe competition, the second edition was hosted by EDHEC Business School, one of two competing business schools that boast incubator space at STATION F. The school’s previous grand prize-winning startup, Dooda, was an animal food venture that used insect-based ingredients.
“This event brings together some of Europe's brightest students and young entrepreneurs. It’s a unique opportunity for them to pitch their responsible business ideas to a panel of experts and network with their peers,” said Ludovic Cailluet, associate dean, Centre for Responsible Entrepreneurship at EDHEC.
The grand prize, worth €20k, was awarded in the Rising Stars category, and aimed at startups that had moved beyond the idea stage and could demonstrate a working prototype or basic version of a product or service. Grand prize winners would benefit from a year of free incubation services alongside funding, and were judged according to their progress, lessons learned, and plans for their next steps.
The winner of this category was Solar Optic, a group of students from KSE Graduate Business School, based in Ukraine, who devised a technology-based solution that brings sunlight directly into buildings without the use of electricity.
Participating students could also enter in the Young Hopes category, worth €5k and aimed at visionary entrepreneurs who could propose a groundbreaking idea or technology. Each submitted idea had to be fully backed up by a proposal explaining the potential impact as well as how it could be implemented.
Entrants for the Young Hopes prize were judged according to their clarity of vision and ability to solve specific challenges related to sustainability. This category was won by real estate-focused students from ESMT Berlin, whose Reduco platform proposed to lower CO2 emissions in buildings.
Hailing the success of the competition, which this year featured an additional six schools and more than 120 alumni, students, and professors, Roland Siegers, director of external engagement at ESMT Berlin, said: “INNOVA Europe showcases how entrepreneurship can tackle some of the world's biggest challenges. By bringing together talented students from diverse backgrounds, we are fostering innovation that contributes to a more sustainable and inclusive future.”
Tommaso Agasisti, associate dean for Internationalization at last year's hosts, POLIMI, added: “It’s inspiring to witness the dedication of students and young entrepreneurs in applying their skills to make a meaningful impact."
