Class Gift Fund: nearly €12,000 raised!

Selected on 16 April via video conference because of the lockdown, three student entrepreneurship projects were granted financial support from the Class Gift fund, overseen by the Audencia Foundation. A look back at this fourth edition.

Created by the Class of 2016 to support student projects and entrepreneurship scholarships, the Class Gift Fund is gaining momentum every year. The fourth campaign for donations raised nearly €12,000 this year! The donations made by students of the class of 2019, were supplemented by the proceeds from the sale of 725 bottles of the Monsieur W company’s ‘Promo 2019’ vintage, (created by Valentin Bros and Florentin Cugnot, GE 19 graduates and beneficiaries of a Foundation scholarship in 2018), as well as the matching gift pledged by Philippe Houzé, (Executive Chairman of the Board of Directors at Galeries Lafayette Group and patron of the class of 2019.

While €7,000 will go towards entrepreneurship grants, the Audencia Foundation has already allocated the remaining €5,000 to student projects focused on social issues or which stand out for their entrepreneurial drive, and which are in line with IMPACT criteria (Impact Measurement and Performance Analysis of CSR).

Of the 34 applications received by a jury of CSR and Entrepreneurship professors, three winning projects were chosen via the selection process, which ended with a video conference presentation session.

A student of the Master of Science in Supply Chain and Purchasing Management, Yvonne Rachael Owasi was awarded a €2,000 grant for her M-Safisha project. It involves a mobile app based in Kenya that aims to create sustainable, decent work opportunities for domestic workers by connecting them directly with potential employers.

For his In’Wine project involving a wine cellar in which each bottle is contained in a compartment whose temperature can be regulated independently of the others, Nicolas Cormerais a Master Grande Ecole student, received a grant of €1,500. “Thanks to the Audencia Foundation’s Class Gift fund, I have the finances to develop a working prototype that I can then present to investors. The Class Gift will also allow me to develop an advertising strategy and start looking for employees.

Caroline Charvet (GE 20), will also receive a €1,500 grant. Her Renaissance project is an upcycling app that helps consumers to transform their clothes rather than throwing them away, in collaboration with a network of independent designers. “The award from the Class Gift fund is recognition of my work. It has helped me to progress with the project. What’s more, my student entrepreneur status allows me to access Audencia’s Start-up Lab where I can devote myself to the project full-time, instead of having to accept an internship.”