Foundation for Economic Education donates 850 000 euros to Aalto University’s business studies

The Foundation of Economic Education donates a total of EUR 2.5 million to the research and education in business. The donation is related to the fundraising campaign of 10 Finnish universities. The individual donations will be paid before the end of the campaign, 30^th of June, 2022. Aalto University's share of the donation is EUR 850,000

The decision to participate in the universities’ fundraising campaign was made by the Foundation of Economic Education in December 2021, and the decision on allocations on April 28, 2022.

‘Donation criteria included academic success in research, their social impact in terms of the number of graduates and postgraduates, and donations received by the Foundation of Economic Education over the past 10 years,’ says Johanna Vesterinen, the CEO of the Foundation of Economic Education.

Similar criteria were last used between 2016 and 2017, when the Foundation of Economic Education donated a total of EUR 5.0 million to universities.

Timo Korkeamäki, Dean of the School of Business, is delighted with the new donation and warmly thanks the long-term supporter of the school. ‘We are very grateful for this new, significant donation. The importance of donations is emphasized as we increase the intake of students in our school, and when we at the same time keep up the high academic quality.’

‘The Foundation of Economic Education has supported the School of Business in many ways for over 100 years. In addition to donations, many researchers and professors at our school have received support as grants. These grants play an important role in supporting and inspiring high quality and socially impressive research,’ says Korkeamäki.

Recent grant recipients include Professor Tiina Ritvala and her research team, who received a grant of EUR 100,000 in the 2021 grant distribution for their perennial research Sustainable Cities and Multinational Corporations in International Business: A Future facing Perspective.

Ilkka Niemelä, President of Aalto University, thanks the Foundation of Economic Education for their significant donation. ‘My warmest thanks to the foundation for both this new donation and their long-term support to Aalto University and School of Business. The importance of business research as a developer of the Finnish business is undeniable. It is great that with the help of this donation we can speed up this important work.’

Further information

Timo Korkeamäki
Dean, Aalto University School of Business
[email protected]

Johanna Vesterinen
CEO, D.Sc.(Econ.), Foundation of Economic Education
tel 045 874 2734
[email protected]

The annual grants of the Foundation of Economic Education are approximately EUR 5.0 million. Grant areas include data economy, leadership competence, business renewal, future-sustainable environment, and entrepreneurship, scaling and growth.The Foundation of Economic Education encourages research groups to apply for perennial grants.