Search for Schools
MBA Programs » MBA Headlines » B-schools Win $7.1 Million Funding for Innovative Thinking

B-schools Win $7.1 Million Funding for Innovative Thinking

According to an April 20 article for businessweek.com, the Graduate Management Admissions Council recently granted $7.1 million in funding to award-winning projects in the business community. The grants were the culmination of the Ideas Innovation Challenge, a contest that began in 2010. Initially, the challenge asked the business world and the business school community for ideas to improve management education, then chose 20 of the best proposals to receive $262,500 each in funding.

The next phase of the contest asked business schools to propose ways to implement some of these ideas on campus. Of the 25 proposals received from b-schools and organizations across seven countries, 12 were chosen to receive $7.1 million each in grants. The winning ideas have the potential to "reshape and revitalize management education worldwide," said David Wilson, GMAC President and Chief Executive Officer, in a press release. U.S. business schools with winning proposals include the University of California at San Diego's Rady School of Management; Pepperdine University's Graziadio School of Business and Management; and SUNY Empire State College.

Specifically, the SUNY proposal looks at creating a program to benefit veterans returning to the civilian world. It will see if some of their military experience and training can be transferred into actual at-school credit that could go toward completion of an MBA program. The school is also looking to tailor an introductory MBA course for returning veterans. Overall, the aim is to make a shorter and less expensive MBA program for them. Read here for more information on all 12 winning entries.