Published: December 4, 2012
Andrónico Luksic, center, with (from left) Felipe Bulnes, Ambassador of Chile to the United States; MIT President L. Rafael Reif; MIT Sloan Dean David Schmittlein; and MIT Executive Vice President and Treasurer Israel Ruiz
The MIT Sloan School of Management announced Dec. 3 it would open its first international office in Santiago, Chile—a move that underscores both Chile’s growing prominence in Latin America and the school’s desire to strengthen its ties in the region. The new office is made possible by a gift from Andrónico Luksic.
The Santiago office, which will be located in the heart of the capital’s thriving business district, will have its own dedicated staff. The office will promote MIT Sloan programs to potential students in the region. These include the full-time MBA program, the Master of Finance (MFin), the Master of Science in Management Studies (MSMS), the Executive MBA, the Leaders for Global Operations program (LGO), Sloan Fellows, and doctorate programs.
“MIT Sloan’s faculty is world class, its programs are innovative, and its alumni hold leadership positions in companies and organizations around the world—including in Chile,” said Luksic. “The school’s presence in Santiago will bring MIT closer to the country and provide a platform for its further collaboration.”
L. Rafael Reif, MIT’s president, praised Luksic’s commitment to Chile’s economic expansion. “Andrónico Luksic’s gift recognizes the importance of broad engagement on business and public policy issues and the role that MIT and the Sloan School play in the region,” he said. “We are truly appreciative of his confidence in us.”
David Schmittlein, Dean of MIT Sloan, said the new office enables the school to expand the scope of its international training programs. “Andrónico Luksic has presented the MIT community with an incredible opportunity to learn about and become involved in issues affecting Latin American business and society. The benefit to our students and faculty will be significant. We are fortunate and grateful for his partnership on this venture.”
MIT and the Sloan School have deep ties to Chile. There are 307 MIT alumni living and working in the country; 125 of those are graduates of MIT Sloan. The MIT International Science and Technology Initiatives (MISTI) group runs more than 30 projects there.
The new office staff will enhance MIT Sloan’s Lab-based action learning programs, where student teams work closely with international businesses and organizations on a targeted consulting project. Already, MIT Sloan sends nearly a dozen students each year to Chilean partner companies.
The presence in Chile will also provide new opportunities for faculty research and collaborations with faculty from local universities, companies, and government organizations. These alliances will pave the way for seminars, lectures, and annual conferences in South America. The office will also expand MIT Sloan’s custom executive education programs for Latin American companies and government organizations. These programs are targeted at senior executives and high potential employees.
Chile ranks 33rd out of 185 countries for its overall “Ease of Doing Business,” according to 2012 statistics by the International Finance Corporation, a member of the World Bank Group. This represents one of the highest scores for Latin American countries. The country also receives a high ranking on the Global Competitiveness Report, which is published by the World Economic Forum. Chile’s upper-middle economy is largely based in natural resources—including mining, agriculture, and fish processing.
“We’ve long been interested in this part of the world, and it’s the right time to set up a home base there,” said David Capodilupo, the Executive Director for International Initiatives at MIT Sloan. “It will provide a platform for us to learn more about the region—its people, its industries, and its governments.”