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Stanford has announced a new fellowship for its students hailing from the African continent. Africa is a place of infinite potential that remains largely unexploited till now. With the world looking more keenly than ever before at this vast continent, Stanford University is also doing its part in attracting the best talent from Africa.

1. Stanford announces new Africa MBA fellowship

http://www.gsb.stanford.edu/

The fellowship program would pay for approximately 140,000 US$ for citizens of African countries with demonstrated financial needs.

This program has been created specifically to reduce the financial barrier for African citizens who wish to obtain their MBA from the prestigious Graduate School of Business at Stanford University.

A caveat is that within two years of graduation from Stanford GSB, the Stanford Africa MBA Fellows would be required to work in the African continent for at least two years in a professional role that contributes to the continent’s development.

The school aims to award up to eight fellowships annually and this pilot program is expected to run for three to five years initially before scaling it up further.

2. International students may get additional financing options soon

Many students of international origin each year find themselves in a tricky situation. Not everyone might qualify to get a loan for their education if they do not have a US co-signer. And for the lucky few who do have some relatives in United States, there are very few options available to them. Especially when you compare the options available to their United States counterparts. This might soon change!

Alternate lending options which are becoming increasingly popular for US citizens, might soon be available to the international students. This move could provide long-lasting relief to the international students, who have been terribly hit post the financial crisis.

The leading peer-to-peer lender is SoFi, which is aiming to lend as much as 1 Billion US$ this year. They have been actively pursuing the opportunity to provide loans to international students, funded by alumni from the student’s home country.

The same path is also being treaded by Pave, a crowd-funding start-up that allows “prospects” to raise money from backers in return for a share of their future income.

A major risk against which the lenders need to be careful about is the chances of defaults. “The default rate is higher for international students” who take out loans in the US, Mr. Kantrowitz says to Financial Times.

3. Wharton Dean Thomas Robertson to step down in June 2014

http://www.wharton.upenn.edu/

Thomas S. Robertson has announced his decision of not to seek reappointment as the Dean of the Wharton School at University of Pennsylvania. His present term is set to end on June 30, 2014.

Dean Robertson shared his intent to return to the Marketing faculty to teach and pursue his research interests in a letter addressed to the other members of the Wharton faculty.

Robertson in his mail said “It is fulfilling to be Dean at Wharton – both exciting and challenging – and I believe that I have accomplished what I set out to do”.

He also thanked all the members of Wharton, saying “I realize that any success that I have as Dean is with your support, dedication, and good counsel. I rely on all of you to conduct leading-edge research, teach to the highest standards, and meet with alumni and world leaders.”

Robertson has been the Dean at Wharton since 2007. He was earlier a faculty member at the school from 1971 to 1994. He then left to become the deputy dean of the London Business School.

Robertson held several jobs at Emory, including the dean of its Goizueta Business School, before returning to Penn.

Malini Doddamani, a spokeswoman for the school confirmed the news, saying that a search committee would be put in place to find a replacement.

Matthew Moll, an Admissions Officer at the prestigious Columbia Business School, recently posted about the most common admissions myths the school encounters during the admissions process.

Moll dedicated a complete article on debunking these myths at the Voices of Columbia Business School forum. Voices is a popular forum where posts are co-written by MBA, EMBA students along with the Admissions Officers.

4. Columbia Business Schools debunk common admissions myths

http://www8.gsb.columbia.edu/

Moll started out by providing advice on how to choose recommenders during the application process. Fancy, highest-possible titles do not matter as the school asks very pointed and specific questions from the recommenders.

Moll suggests that for applicants to give themselves the best chance, they should select professionals who not only have worked closely with the applicant but also are invested in the applicant’s career and want them to succeed.

Another myth the committee encounters is that there is a fixed formula that the school follows while selecting the candidates.

The review process, as per Moll, is completely holistic and all aspects of the application are taken into consideration. Students are admitted for a variety of reasons, but never rejected for just one reason.

A common concern for applicants is the GMAT/GRE score, Moll points out, suggesting that the score is only a part of the application and does not singularly determine the applicant’s fate.

5. Exclusive new MBA for doctors, from Indiana University

Indiana University’s Kelley School of Business has announces a new MBA program aimed specifically at mid-career Physicians. The underlying goal of the

program is to help doctors understand and curb the industry’s soaring costs.

“Government and employers are noticing that we can’t sustain the cost of health care,” says Vicki Smith-Daniels, faculty chair of graduate business programs in medicine at Kelley.

The same sentiment is echoed by

Anthony Sabatino, an MD who specializes in interventional spine medicine at Carmel, Ind., who plans to enroll in the program.

“For health care to be better, doctors must lead the change. Nobody else can,” says Anthony. “But we must also remain patient advocates.”

This MBA program is only open to currently practicing doctors who are around 40 – 55 years old and are taking on greater accountability for patient outcomes and costs. The school plans to conduct half of the program online, while the remaining half would be on campus.

The primary idea behind this program is the understanding that doctors can no longer afford to leave the business aspects to the Finance personnel, while continuing in their capacity as the ‘healers’.

Face time will happen at a frequency of one weekend per month.

For now, about 30 students will join the program, but the school will never have more than 40 enrolled at a time, Smith-Daniels says.

The school has conducted an extensive research in designing the curriculum to make it as relevant as possible to the practicing doctors.

More than 75 health care industry professionals were consulted to tailor the entire curriculum.

Even the core courses would have a medical bent to them.

The two-year program is priced at $58,935.

6.Carnegie Mellon establishes new Center for Innovation and Entrepreneurship

In a bid to bolster turning ideas and research carried in the University into commercial enterprises, Carnegie Mellon University has merged the

strengths of its Project Olympus and the Donald H. Jones Center for Entrepreneurship.

The resulting new center will be called the Center of Innovation and Entrepreneurship (CIE).

http://www.cmu.edu/

Lenore Blum, the founder of Project Olympus and Professor of Computer Science, and Dave Mawhinney, Executive Director of the Donald Jones Center

and Asst. Teaching Professor of Entrepreneurship, would jointly lead the newly established CIE. The main goals listed for the CIE are:

Make Carnegie Mellon the ‘destination of choice’ for Entrepreneurship-focused individuals

Establish and build an ‘inside-out’ approach in creating successful commercial ventures from the school’s cutting-edge research

Develop a strong, extensive network of alumni entrepreneurs

The CIE intends to continue and build on the existing successful programs of both Project Olympus and Donald Jones Center including seasonal Show &

Tell event that connects campus researchers with local and national investors, the Open Field Entrepreneurs Fund, incubator space for fledgling companies,

entrepreneurship workshops and business competitions, such as the McGinnis Venture Competition.

“We also will be establishing an Alumni Entrepreneurial Network, tapping our many alumni who have started or who are leading successful startups,” Mawhinney said. “Our alumni can provide priceless guidance to the next generation of entrepreneurs and we will be nurturing those connections in every way we can.”

The school would want to replicate the success of both the parent organizations, Donald Jones Center and Project Olympus through this endeavor.

The Tepper School of Business, home to the Don Jones Center, was one of the first business schools to offer formal entrepreneurship training. The Center has a rich history of bringing students, faculty and practitioners together with groundbreaking research.

Project Olympus, since its founding in the School of Computer Science six years ago, has helped more than 100 student and faculty teams across campus that sought to turn research and great ideas into commercial services and products

7. ESADE to expand African focus

Katie Carr, the regional director for EMEA and India for ESADE Business School, suggests that the entire African continent is neglected much more than it should be by global business schools.

When Katie took up this role a few months ago, she started off by analyzing ESADE’s connection in the main regions she is supporting – namely, Europe, Middle East, Africa and India. An interesting point was uncovered during this analysis – More people take the GMAT exam in Nigeria than in Spain. Despite this, incoming students from the entire African continent represents only about 2-3% of the intake.

continent as a potential region for career opportunities. This prompted ESADE to host an event earlier in March to highlight the opportunities available in Africa and open the minds of their students. Five panelist were asked to present during the awareness event.

Shaun Gauze, Chief Executive and Co-founder of Global Growth Inc. (GGI) was one such panelist. His previous work in the continent mostly involved charitable he

And the result is almost echoed even during placements. Most students rule out the

8. Top MBA programs becoming less selective

This is highlighted spectacularly by Ross School, where the acceptance rate for the 2012 season was a whopping 40.6%, a 8.4% increase from the previous year!

An analysis of the acceptance rates at various schools showed that the rates increased at 23 of the top 25 MBA programs. Acceptance rates are generally regarded as an effective way to measure the overall health of a business school. A new trend, which may

come as a respite for many applicants, has emerged over the past couple of application seasons. As the number of applications to the top MBA programs has dropped, the acceptance rates have increased tremendously.

As a general rule, the lower the acceptance rate, the greater is the demand for that school.

A saving grace for Ross School may be the fact that many schools have by force become less selective. Almost all the top U.S.

business schools have accepted a higher percentage of their applicants, including Harvard, Stanford, and Wharton.

“After two consecutive years of increases in Full-time MBA applications in the midst of declines at other schools, we experienced a decline in our applications last fall,” explained Soojin Kwon, director of admissions at Ross.

“In addition, we discontinued our international student loan program in the middle of the admissions cycle, increasing our uncertainty around yield.

This led us to increase the number of admissions offers.

As a result of these two factors, our acceptance rate was higher than in the past.”

Among the top programs, only UCLA’s Anderson School seemed to be immune to the trend. Anderson observed a 22% surge in its MBA applications and consequently a 6% drop in its acceptance rate.

The second tier schools did seem to fare a little better though.

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