Management Education for Tomorrow (MET) Fund
For us, investing is a big part of management education.
We believe in supporting innovation and advancement in graduate management education.
GMAC has always been dedicated to improving and enhancing management education. In 2008, we strengthened that dedication by creating the GMAC® Management Education for Tomorrow (MET) Fund—a US$10 million commitment toward strategic philanthropic initiatives that will go to research and causes that benefit students, faculty, and institutions by helping to keep our disciplines current, vital, well informed, and relevant. The MET Fund currently supports the following programs.
Ideas to Innovation (i2i) Challenge
“Ideas to Innovation” is the theme of the two-part Ideas to Innovation (i2i) Challenge. The first phase saw the worldwide submission of 650 ideas to improve graduate management education; the top 20 received US$260,000 in awards. We've completed the second phase, where we sought proposals from schools and other education providers to implement one or more of those top ideas in ways that can be replicated worldwide. On April 17, 2012, the MET Fund announced US$7.1 million in grants to 12 schools and organizations that submitted the most creative implementation plans for Phase 1 ideas.
The MERInstitute
The MERInstitute awards fellowships and grants to faculty and students to fund data-driven research related to admissions, curriculum, career, and outcomes in graduate management education. Since 2005, we have awarded nearly $1.4 million dollars toward this research.
The PhD Project
We are a founding sponsor of this award-winning program aimed at increasing diversity in the faculty of U.S. business schools. Since 1994, we have helped the PhD Project more than triple the number of minority business school professors from 294 to over 1,000. We’ve also helped 400 minority doctoral students pursue their dream of earning a doctoral degree.
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