IFE Quarterly Newsletter | Spring 2021
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Reflecting on a thriving year |
Message from the Nulsen Family
Executive Director
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As we wrap up the Spring semester and the academic year, I am once again reminded of the generous support the Institute for Family Entrepreneurship has received from students, alumni, parents, faculty and staff, and families in the Babson community. Thank you!
In the sections below, you will see the highlights of two major events we had in the Spring that truly speak to our mission to amplify the capacity of entrepreneurial families to create economic value and social impact through a foundation of stronger family functioning and self-reflectivity. The first is the Family Entrepreneurship Journey, a 4-part virtual series that explored how relationships can help families amplify their capacity to create value together.
The second is our inaugural Babson-Camus Global Family Entrepreneurship Award, in which we had the opportunity to recognize The Bertarelli Family, a highly distinguished and uniquely impactful entrepreneurial family who have created significant economic and social value across generations.
I would also like to congratulate Bertarelli Foundation Distinguished Chair for Family Entrepreneurship William B. Gartner and Associate Professor Matt Allen for the launch of their new book, FAMILY ENTREPRENEURSHIP: INSIGHTS FROM LEADING EXPERTS ON SUCCESSFUL MULTI-GENERATIONAL ENTREPRENEURIAL FAMILIES. This is the first edited book that focuses on family entrepreneurship from both academic and practitioner perspectives and exemplifies Babson’s leadership in this space. You can read an excerpt of the book in the section below.
In the next few months, our team will focus on planning for next year. We are energized by your enthusiasm for our programs. Your support helps us to deliver on these programs to students and families. As we approach the end of our fiscal year, we would be grateful if you would consider making a gift to the IFE to support our work.
I hope you will enjoy the summer!
Sincerely,
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KEY TAKEAWAYS FROM
FAMILY ENTREPRENEURSHIP JOURNEY
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Tariq Farid and
Somia Farid Silber '15
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The Family Entrepreneurship Journey brought together over 300 attendees from around the world. Through the lens of guests such as Tariq Farid, founder of Edible Arrangements, and Somia Farid Silber (’15), VP of eCommerce of Edible Brands, Carlos Rojas (MBA'11), CEO of Rotoplas, Joanna Berwind, Babson's Disruptor-in-residence and Board President of Berwind Corporation, and Professor Matt Allen, creator of Babson’s Family Entrepreneurship Amplifier Program, we learned how family relationships impact entrepreneurship, transformation, growth, and social innovation family businesses.
Below are some key takeaways from the 4 sessions:
- To build entrepreneurship in the next generation families should support the development of autonomy, competence and relatedness. (Professor Matt Allen)
- Shift from power to peer relationships: Collaboration creates pathways for value creation. (Joanna Berwind)
- Invest in creating a shared vision and then engage the next gen in the business early – trust their voice. (Tariq Farid and Somia Farid Silber)
- Reflective leadership, developed through intentional practice, can fuel transformational change in a family business. (Charly Rojas)
Because of the positive feedback we received, we decided to have a follow-up series in the Fall. More details to come. Please stay tuned!
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Babson-Camus Global Family Entrepreneurship Award 2021 |
In partnership with CAMUS Cognac, a fifth-generation family business operated by Cyril Camus ‘91, Babson College announced the first ever Babson-Camus Global Family Entrepreneurship Award during Babson Connect Worldwide. This prestigious award recognizes one highly distinguished and uniquely impactful entrepreneurial family that has created significant economic value and social impact across generations.
Representing his family, Ernesto Bertarelli, of Waypoint Capital, is the first Babson-Camus Global Family Entrepreneurship Award recipient. Waypoint has investments ranging from healthcare and biotech to real estate, asset management and digital technology. The Bertarelli family also has a history of supporting life sciences and marine conservation through their Bertarelli Foundation.
In a highly engaging hour-long conversation with Lauri Union, Ernesto shared his vision of family entrepreneurship and the impact Babson can have through our leadership in this space. View a clip here. The conversation culminated with Cyril’s presentation of a unique and stunning trophy custom created by the CAMUS team. Through this annual award, we seek to inspire families around the world to amplify their capacity to create value together through stronger family relationships and self-reflectiveness.
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Thought Leadership
An Excerpt from the New Book
FAMILY ENTREPRENEURSHIP: INSIGHTS FROM LEADING EXPERTS ON SUCCESSFUL MULTI-GENERATIONAL ENTREPRENEURIAL FAMILIES
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Managing Legacy, Achievement and Identity in Entrepreneurial Families
by Eliana Crosina, Assistant Professor of Entrepreneurship, and
William B. Gartner, Bertarelli Foundation Distinguished Professor of Family Entrepreneurship, Director of Research
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In discussions with entrepreneurial families about their futures, we often suggest that each family member should consider four aspects of their lives—achievement, happiness, significance and legacy—as a broad framework to explore their goals and values and to reflect on “who they are” and ultimately “who they want to be.” This framework comes from Just Enough, a book written by Laura Nash and Howard Stevenson that focuses on the meaning of “success” for highly accomplished individuals and families. In this chapter, just as in our conversations with the members of entrepreneurial families, we first describe and contextualize the framework. We then focus on two specific elements of the framework—legacy and achievement—because they tend to be a primary source of conflict and misunderstanding among the members of entrepreneurial families. |
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Summer Programs for Entrepreneurial Families |
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The Amplifier Summer Experience (Virtual)
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June 21 - July 16, 2021
2 sessions a week for 4 weeks
A lifetime of entrepreneurship connections
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We're extending the unique Amplifier Program experience to entrepreneurial families around the world. Families with at a student who is at least 14 years old will have the opportunity to engage in Babson's flagship family entrepreneurship program and be a part of its global community of entrepreneurial families.
Through this program, families will learn to use various entrepreneurship tools as laid out in Professor Matt Allen's recent article in Harvard Business Review.
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JOIN BABSON'S GLOBAL COMMUNITY
OF FAMILY ENTREPRENEURS
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Please join the IFE global community of 5,000+ family entrepreneurs and get priority access to our networking events, virtual forums, and other exciting programs. JOIN NOW! |
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