CAMBRIDGE, Mass., May 8, 2008 — The MIT Sloan School of Management is proud to announce a gift of $100,000 by the Foundation for Enterprise Development as a Beyster Fellowship in support of the MIT Sloan Initiative for Sustainable Business and Society.
Under the direction of MIT Sloan Professors Richard Locke and John Sterman, this gift will support student projects on employee ownership that will inform education about sustainability. This is recognized as a crucial step in the creation of employee business models in emerging clean and green technology companies for the rising generation of entrepreneurs at MIT and throughout the world. In addition to the curricular benefits for students, the result of this work will inspire the design and construction of a “management flight simulator” representing a startup firm in the clean/green technology sector.
Mary Ann Beyster, president of the Foundation for Enterprise Development, says, “This gift will provide needed resources to fund and distribute vital information on how broad-based employee ownership can spur innovation that addresses climate change and energy issues. MIT Sloan will be looking at how to maximize wealth distribution for employees who are inventing and advancing new technologies that create a more sustainable world.”
Beyster is an alumna of MIT Sloan (SM ’90). Upon graduation, she was a senior consultant at SRI International and focused on technology management and environmental management for U.S. clients and international clients located in Japan, Canada, Mexico, Venezuela, UK, and Italy. From 1995 to 1999, Beyster was a Practice Manager and Officer at CH2MHill's Energy, Environment, and Systems business. In 1999, she joined SAIC as a Business Development Manager and Officer and was responsible for systems integration business in environmental, infrastructure markets (e.g., energy, water), and life sciences.
For over fifty years, the MIT Sloan School of Management, based in Cambridge, Massachusetts, has been one of the world's leading academic sources of innovation in management theory and practice. With students from more than 60 countries, it develops effective, innovative, and principled leaders who advance the global economy.
The Foundation for Enterprise Development (FED) was established in La Jolla, California, in 1986 by Dr. J. Robert Beyster, founder of Science Applications International Corporation (SAIC), the largest employee-owned research and engineering company in the United States. The FED promotes business principles and practices that encourage free enterprise and advance science and technology innovations with impact on nationally important interests. In 2002, the FED launched the Beyster Institute to focus on education and training in entrepreneurship and employee ownership, and as of 2004 the Beyster Institute became part of the Rady School of Management at the University of California, San Diego. The FED works with The Beyster Institute and other leading universities, foundations/associations and government agencies to initiate new research, and educational and knowledge sharing programs to promote science and technology innovation through participative employee ownership.