Ant Bozkaya | Solvay School | Global Entrepreneurship

1. David Errera
(Cycle Farm, ScEco 1991)
"WORKING TO GROW – SPIN
FARMING IN BRUSSELS"
THE SBS-EM in Vietnam for over 21 years! – TEACHING: educating
responsible and ethical professionals – RESEARCH MISSION: to have an
impact on society – SOLVAYSCHOOLSALUMNI: what better gift than
to invest in yourself? – STÉPHANE KURGAN (ScEco 1989): the
"King" who skived off school – SOCIAL MEDIA: the School goes
digital – MARC BELLIS (EMM-CEPAC 1977) and Solidarité-
Logement: giving hope a chance
Harold Grondel
(Productize, Ingest
1998)
"IN A FEW YEARS’
TIME OUR
TOOTHBRUSH WILL
BE CONNECTED!"
David Errera
(Cycle Farm, ScEco 1991)
"WORKING TO GROW – SPIN
FARMING IN BRUSSELS"
With the support of SolvaySchoolsAlumni
2nd
semester 2016
No. 63
T H E M A G A Z I N E O F T H E S B S - E M A N D S O L V A Y S C H O O L S A L U M N I
Ant Bozkaya
Professor of Management Practice
& Chair of Global Entrepreneurship
"Developing your soft skills like
vision, leadership, and passion"
SPECIAL EDITION:
Corporate Social
Responsibility
@ SBS-EM

2. HOTEL – SEMINAR
GOLF – WELLNESS – RESTAURANT
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steeped in history and modernity, where calm and authenticity reign supreme, you
can give your creativity free rein in all the areas that we cover.
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view of the golf course and surrounding nature.
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• Ideal, ever so accessible location: near the
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• Parking for 250 cars, secure under camera
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• Catering service for coffee breaks and meals
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• Possibilities to customise your events by
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• Rue Naxhelet 1 • 4520 Wanze (Belgium)
+32 (0)85/82.64.08 • reception@naxhelet.be

3. T
he Daniel Janssen Chair in CSR has
supported the school substantially
over the past 13 years. As holder of
the Chair for about 6 years I have had
the opportunity to develop several
topics that matter to our society: global econo-
mic governance, corporate accountability and
reputation, international law and virtue-based
business ethics.
After such a long and successful contribution to
education, the Janssen family and the School
have decided to reorient the Chair towards
mindful leadership and CSR. A mindfulness
approach will equip CSR to address inner
states and motivations for managing compa-
nies ethically and with compassion. Such
matters are vital for leadership to create
social value alongside economic value
for a wide spectrum of stakeholders.
Extending CSR into mindfulness
can guide philosophical scho-
larship and scientific research
aimed at practical demands for
business leaders to assimilate
multiple criteria in pursuit of
social and financial value creation and envi-
ronmental responsibility. The Chair is refiguring
course material and proposing new Executive
Education courses. Alongside this, the Chair is
forging collaborations with scholars and busi-
nesses in Europe and around the globe.
Both Dean Bruno van Pottelsberghe and I – as
the fortunate holder of the Chair – are delighted
to express our gratitude to the Janssen Family.
The whole School and many hundreds of
students have been touched by their generosity
and deep commitment to corporate social res-
ponsibility for many years.
Baron Daniel Janssen has been a loyal sup-
porter of the SBS-EM, as Chairman and then
Honorary Chairman of the International
Advisory Board, and as a strong advocate of
corporate social responsibility stretching
back to his exemplary leadership at
the Solvay Company. We are delighted
that the Daniel Janssen Family Chair is
being extended under the auspices of his
wife Thérèse and sons Charles-Antoine,
Nicholas and Edouard. The family’s
financial backing, inspiration, and
encouragement are helping to
improve the stature of the
School and at the same time
helping to find innovative
ways of making Belgium
and the world beyond a
better place.
Carte blanche 03
The Daniel Janssen Family Chair
Reorienting towards
Mindful Leadership
and CSR
MANAGING COMPANIES ETHICALLY
AND WITH COMPASSION
Kevin Jackson,
Chairholder
Picture: Mathieu
Paternoster

5. Editorial
The School’s Social
responsibility…
This issue of the "From" is dedicated to the
School’s Social Responsibility. Whether
through its educational services or research
performance – constantly challenging the
status quo and aiming to improve policy
making and managerial practice – social
responsibility is deeply engrained in the
School’s mission and values and is a key
ingredient of our entrepreneurial culture.
Social responsibility is addressed in many
of our courses and is the key driving force
of several degrees. It also receives excellent
backing from the novel approach adopted
by the Daniel Janssen Family Chair of
Mindful Leadership and Corporate Social
Responsibility. This initiative – a very
significant support to our mission – will
be a force for "positive disruption" at the
Solvay Brussels School. It is the duty of our
Faculty to adopt a similar approach towards
disruption and change, innovating in all our
core activities to ascend to the status of a
top European institution.
Bruno van Pottelsberghe
Dean SBS-EM
Contents2nd
semester 2016 No. 63
After
20 SolvaySchoolsAlumni
The association has launched a new
Development Programme aimed at
empowering alumni to achieve greater
professional and personal impact.
24 Success Story
A fan of video games since forever,
Stéphane Kurgan (ScEco 1989) is now
on the board of King, the company
behind the global hit "Candy Crush".
27 Close up
LinkedIn, Twitter, Facebook,
e-newsletter… A new Community
Manager will energise and increase
the SBS-EM’s digital impact.
28 Enterprise Spirit
In 2015, Harold Grondel (Ingest 1998)
created Productize – Belgium’s first
Internet of Things Agency.
31 Off the Beaten Track
For David Errera (ScEco 1991), who
is now an urban farmer (Cycle Farm),
there’s no such word as "impossible"
in life.
34 Initiatives
Through Solidarité-Logement, Marc
Bellis (EMM-CEPAC 1977) provides
decent housing across Belgium for
those who could not otherwise afford it.
Inside
06 Prof. Profiles
Ant Bozkaya, the
new Chair of Global
Entrepreneurship
and Professor of
Management Practice,
is paving the way to
Silicon Valley.
12 Front Page
The School in Vietnam.
This non-profit mission
is evolving towards
a new European
university centre taking
shape in South East
Asia.
14 Education
Ethics, responsibility
and sustainability (ERS)
are part of the core
values of the School
and at the heart of its
teaching.
18 Research
The principle of free
inquiry underlies the
academic freedom that
guides the School’s
research.
top European institution.
Bruno van Pottelsberghe
Dean SBS-EM
0612 28 31
06
From Solvay Brussels School of Economics & Management is a publication of Solvay Executive Education ASBL | avenue F.D. Roosevelt 50 CP 145/1 - 1050 Brussels
EDITOR: Bruno van Pottelsberghe | avenue F.D. Roosevelt 50 CP 145/1 - 1050 Brussels REALISATION AND PRODUCTION: | Telephone: +32 (0)2 640 49 13 |
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6. www.solvay.edu
The world can be the
market from day one
Ant Bozkaya
Prof. Profiles06
Ant is an economist, entrepreneur, and global business executive.
He works with companies worldwide on the development of
new ventures and transformations for sustainable growth. Over
the past 25 years, he has held multiple academic, corporate
executive, and policy-related positions including at Harvard
University, MIT Sloan School, University of California at Berkeley
and the National Bureau of Economic Research.
Ant Bozkaya, the
new Chair of Global
Entrepreneurship
and Professor
of Management
Practice at SBS-EM,
is paving the way
to Silicon Valley.
Dean Bruno van
Pottelsberghe
welcomes Ant:
"With this new
Chair, the School
is strengthening its
global footprint and
its entrepreneurial
focus".
Text: Clément Jadot
Pictures: Laetizia
Bazzoni
in rapidly changing and increasingly complex
global markets. Entrepreneurs are no longer
confined to a local geography when building a
new business – the world can be their market
from day one. Yet building a start-up as a global
business requires entrepreneurs with skills and
strategy. My courses in global entrepreneurship
are about starting up a new venture and buil-
ding a successful business by turning disrup-
tive innovation into a competitive advantage.
Inspired by my tenure during the past decade at
MIT Sloan School and Harvard, I developed the
Global Entrepreneurship course with real life
examples from my research and based on my
teaching with some of the most distinguished
faculty in this field. In a nutshell, the course
equips entrepreneurs to turn a viable oppor-
tunity into a focused strategy and well-defined
global business initiative.
Experience in learning
What other subject(s) are you teaching?
I have been teaching courses in the areas of
corporate and innovation strategy, leadership,
venture capital, and entrepreneurship. Much of
my work examines the ways in which financial
intermediaries and institutional organizations
impact the nature of innovation and entrepre-
neurship. I focus on how companies explore
new opportunities and generate sustainable
growth. Furthermore it considers the leader-
ship and resources necessary to identify, launch
and sustain dynamic and enduring compa-
nies. I also focus on understanding the drivers
You hold the new Chair of Global
Entrepreneurship at Solvay, what is global
entrepreneurship about?
More and more start-ups are being born global.
Building a start-up as a global business requires
today’s entrepreneurs to think earlier and faster

7. 07
How would you define your teaching
style?
My teachings are practitioner-oriented. They
place a high priority on developing practical
knowledge, which means the insights and values
required to make the entrepreneurial choice, and
the skills and competencies to turn that choice
into a successful international venture. Students
will have opportunities to explore entrepreneu-
rial strategies through lectures, analysis of case
studies and interactive discussions to be better
able to assess the challenges and risks associa-
ted with launching a start-up or taking a small
business to the next level.
What academic achievements are you
most proud of?
I am a late starter in academia. I returned to
my graduate studies after some 20 years in
the corporate and entrepreneurial world. After
my second year of PhD studies at SBS-EM,
I was awarded a four-year Harvard
Prof. Profiles
of financing constraints for start-ups. We are
also launching a new "Silicon Valley Immersion
Week" course in the Solvay Executive MBA. The
objective of this innovative course is to stimu-
late "experience in learning"– balancing in-class
teaching with fieldwork. It further aims to give
our students a unique, on-the-ground look
at the inner-workings of Silicon Valley – from
start-ups and the venture capital world to the
region's most successful companies.
WE ARE ALSO
LAUNCHING A NEW
"SILICON VALLEY
IMMERSION WEEK"
COURSE IN THE SOLVAY
EXECUTIVE MBA
1963 Born in Sarikamis, Turkey
1985 BS, University of Petroleum & Minerals (Saudi Arabia)
1986-1991 Management Consultant, Accenture/Andersen
Consulting (London/Sydney)
1992-1998 Founding President & CEO of Bilkent Technology,
Healthcare and Power Group
2002 MBA, SBS-EM (ULB)
2004 MS/DEA, SBS-EM (ULB)
2005-2007 Visiting Researcher, Harvard University
2005-2009 Research Fellow, Harvard Kennedy School &
Harvard Business School
2007 PhD (Econ), SBS-EM (ULB)
2007-2009 Post-PhD Research, Harvard University
2009-2013 Senior Lecturer, Lecturer at MIT Sloan School of
Management
2013-... Distinguished Fellow at University of California,
Berkeley
2009- … Research Fellow in Innovation Policy and the
Economy at the National Bureau of Economic
Research (NBER, USA)
2015-… Visiting Professor of Global Entrepreneurship, Kyoto
University
2016-… Professor of Management Practice & Chair of Global
Entrepreneurship at SBS-EM (ULB)

8. 08
www.solvay.edu
Prof. Profiles
As part of his
research, in 2008
Ant co-published
with Bruno van
Pottelsberghe “Who
Funds Technology-
Based Small
Firms? Evidence
From Belgium”
in Economics of
Innovation and
New Technology.
The article looked
at how technology-
based small firms
are funded in
Belgium.
Vision, leadership and passion
Finally, do you have any
recommendations for global
entrepreneurs?
Start building competencies to function effecti-
vely in global settings. All entrepreneurs must be
able to identify opportunities, gather resources
and strike deals. Make decisions based on evi-
dence and analysis. Develop your soft skills like
vision, leadership, and passion. Participating
in SBS-EM MBA and executive programmes is
a great step in starting to build practical com-
petencies. Have a passion… In my experience,
passion is a key driver in start-up success. Be
curious… Curiosity often leads us to pursue a
number of opportunities. Do not fear failure…
Start learning from your mistakes to help you
do better next time. Work smarter… Remember,
an entrepreneur is a "jack of all trades" juggling
many balls at once! The rest is … kismet!
University Science, Technology and Public
Policy Program Fellowship for my doctoral and
post-doctoral research. I was also awarded the
Innovation Policy and the Economy Fellowship
at the National Bureau of Economic Research
(NBER) in 2009. I am also proud to have the
opportunity to work with some of the most dis-
tinguished people – Bruno van Pottelsberghe,
Rich Lyons, Toby Stuart, Simon Johnson, and
Bill Kerr to name a few – during my tenure at
Harvard, MIT, SBS-EM and UC Berkeley.
The entrepreneurial choice
What do you hope your research will
achieve? What drives you?
I hope my work helps prepare future leaders to
build successful new global ventures in today’s
increasingly challenging business landscape.
I am passionate about better learning and
teaching the emerging business that global
ventures pursue and differences in the extent to
which these companies harness globalization
directly into their core operations. My primary
goal has been to increase the probability that
students will sometime in their careers make
"the entrepreneurial choice," that is, decide to
establish a new venture that either addresses
a global opportunity and/or has at least one
important element of the venture which is
global in nature. My proudest moment is when
my insights have propelled the careers of some
of my most successful students.
You have taught in top-notch business
schools from the USA to Japan and
Europe. What role should universities play
in stimulating entrepreneurship?
The quick answer would be: to build a start-up
mindset. When I talk to my students outside the
US, most want to change things for the better.
Yet they all mention something in common:
they did not have an opportunity to get an edu-
cation or training in entrepreneurship in their
undergraduate years. I strongly believe that
universities should play a key role in building an
entrepreneurship ecosystem in the earlier years.
In a nutshell, the brilliant minds of this century
want their universities to give them a start-up
mindset. Dean Bruno van Pottelsberghe and
his team are well aware of the importance of
building such a strategic entrepreneurial spirit.
Coupled with new courses in high-growth
high-impact entrepreneurship, the SBS-EM
would leverage its historically innovative
culture to stimulate entrepreneurship activities
to help individuals develop their ideas into suc-
cessful businesses methodically, step-by-step.
Moreover, to remain competitive, any company
– large or small – needs to embrace the kind
of entrepreneurial spirit (corporate entrepre-
neurship or intrapreneurship) associated with
a start-up.
What do you do in your SPARE TIME?
"I am a keen traveller who enjoy architectural tours, sailing and jazz. I
continue to advise start-ups on their financing strategies. I also work pro
bono in developing countries to promote evidence and action-based
entrepreneurship."
"I am also what you may call a curious, aspiring taster of food from all over
the world and continue to acquire a taste for wine. Brussels is a great city
with many options. Unfortunately, most of the time, I have too much
work on hand and end up just eating sandwiches between classes!"

9. 09NewsNews News
ECARES
25th
birthday
celebration!
This year, the European Centre
for Advanced Research in
Economics and Statistics
(ECARES) celebrates
its 25th
birthday. The
objective of this SBS-EM
research centre is to
foster excellence in
research and high-quality
graduate education in
economics, econometrics
and statistics. ECARES
has also developed a
Doctoral School which
offers an internationally
competitive, high quality PhD programme in
Economics and Statistics and in Quantitative
Economics. It attracts many first-class
European and non-European students. The
outstanding quality of its PhD programme is
reflected in the success of its graduates in the
academic job market.
Leading researchers
ECARES fellows are leading researchers in
a number of fields, including the behaviour
and organisation of firms and markets,
international trade, political economy, theory
and empirics of household behaviour, theory
and applications of econometrics and the
development of nonparametric and robust
statistical methods. Many ECARES researchers
have received grants from the European
Research Council (ERC) and other prestigious
prizes and awards.
ECARES collaborates with CORE (the UC
Louvain Centre for Operations Research and
Econometrics) and the CES (KULeuven Centre
for Economic Studies), with which it has
created a joint centre of excellence – ECORES –
incorporating the research activities and
doctoral programmes of the three institutions.
Transgenerational
To celebrate the 25th
anniversary of ECARES,
a workshop was organised at the end of
November at which some of the young
(at heart) team members presented one of
their recent research papers. This workshop
provided a lively demonstration of the
research centre’s versatility and showed
that the current generation is still driven by
similar problems to those experienced by the
founding fathers (and mothers).
Christina Lemaire:
christina.lemaire@ulb.ac.be
www.solvay.edu/ecares
Tillmann Heidelk, one of the
ECARES PhD students, was awarded
the European Charlemagne Youth Prize
for the Young European Council project.
This project was conceptualized by the
Young European Leadership organisation, of
which Tillmann is one of the founders.
younglead.eu/yec
Tillmann Heidelk
European
Charlemagne
Youth Prize
Oliver Hart and Bengt Holmstrom
Sveriges Riksbank Prize
Oliver Hart and Bengt Holmstrom have been awarded
the 2016 Sveriges Riksbank Prize in Economic Sciences in
Memory of Alfred Nobel for their work in contract theory.
Their contributions gave rise
to an extensive and innova-
tive literature. Contract theory
quickly found applications
in other fields like finance,
organisation theory, macro-
economics, international
trade, industrial organisation
and political economy.
Both prize winners are well
known to our university
and this prize holds special
meaning for the ULB. Oliver
Hart was awarded an honorary doctorate at
our university in 1992 (proposed by the Faculty of Social,
Political and Economic Sciences – Solvay Business School or
SOCO). Bengt Holmström was a guest speaker at the 100th
anniversary of the creation of the Solvay Business School in
2003. And in June 2011, contract theory was again honoured
at the ULB when ECARES organised an international confer-
ence at the SBS-EM to celebrate the 25th
anniversary of Hart's
1986 seminal paper on incomplete contracts.
Aghion, Dewatripont, Legros and Zingales, The Impact
of Incomplete Contracts on Economics, Oxford
University Press.
www.nobelprize.org/nobel_prizes/economic-sciences/
laureates/2016/popular-economicsciences2016.pdf (for
a discussion of the motivation of the Prize, including a
reference to the proceedings of this ULB conference)
birthday
celebration!
This year, the European Centre
for Advanced Research in
Tillmann Heidelk
ECARES PhD students, was awarded
the European Charlemagne Youth Prize
for the Young European Council project.
This project was conceptualized by the
Young European Leadership organisation, of
which Tillmann is one of the founders.
younglead.eu/yec

10. www.solvay.edu
News
Job Fair and Conference
EFMD@Solvay PhD in Management
The European Foundation for Management Development (EFMD) is delighted to
have organised the first PhD & DBA in Management Job Fair.
This was the first event of its kind in
Europe and we believe it will con-
tribute to the fluidity of the PhD &
DBA job markets not only in Europe
but throughout the world, helping to
match recruiters with top academic
talent. Given the reach of the EFMD, we
hope that in time the Fair will become
one of the most important global aca-
demic recruiting events," explained
Professor Eric Cornuel, Director General
& CEO, EFMD.
With the School
This event, organised jointly by the EFMD and
the SBS-EM, was held on 29-30 October 2016.
Professor Bruno van Pottelsberghe, Dean of
SBS-EM, added: "There are about 500 research-
ers graduating with a PhD in management
sciences each year in Europe and we expect at
least half of them to attend the Fair in Brussels
and meet recruiters from over 200 business
schools and universities. Knowledge genera-
tion, market opportunities and job opportuni-
ties in research will be at the heart of the event."
Across all areas
At the Fair, candidates encountered across all
areas of management – Accounting, Finance,
Information Management, Management
(Organisation), Managerial Economics,
Marketing and Operations Management…
Ahead of the event, recruiters had the opportu-
nity to scroll through the profiles, résumés and
papers of all job-seeking candidates organised
by management area and subsequently to
schedule meetings with candidates during the
job fair. This gave schools and candidates time
to get to know each other, arrange fly-outs and
school visits and negotiate contracts for the
upcoming academic year.
www.efmd.org
ews
©R.R.
Michele Coletti, PhD, Politecnico di
Milano, Italy
"The PhD Job Fair was an excellent
opportunity to sharpen the value
proposition of my research and
experience, meet interesting candidates
and recruiters and get some promising
interviews. In one weekend, I gained a
better understanding of the job market
and met more prospective employers
than in months of desk work."
Sonia M. Camacho A., PhD., Assistant Professor, School of
Management, Universidad de los Andes
"The EFMD Job Fair is a vibrant space to interact with
colleagues from all over the world. The format of the fair (ie
presentations followed by one-to-one interviews) provides
recruiters with a holistic view of candidates in diverse
management fields. As a recruiter, you have the opportunity to
raise candidates' awareness about your school, its opportunities
and plans for the future. It is, without a doubt, an environment
where you will find candidates who are a good fit for what you
are looking for! Solvay is an excellent and accessible venue and
the logistics provided by EFMD make every activity easier to
develop. Brussels is also a lovely place to visit in the autumn
(and if you like chocolate, this is the right city for you!)."

11. News 11
Who's who?
Véronique Simon
Function: Career Services & Corporate Alliance Officer, Solvay
Executive Education, since 1 September 2016. Administrative
support to the Jaumotte-Demoulin Foundation and the Van Buuren
Fund which allocate financial help to ULB research projects.
Background: Véronique graduated in Tourism in 1986. She
worked at the front desk of a hotel in Brussels before leaving
for San Francisco for a year as an au pair. On her return to
Belgium, Véronique progressed from secretary to IT support in
an international reinsurance company before entering the world
of European lobbies in 2002, where she was Office Manager.
During the summer of 2016, she decided to try a new challenge by
entering the academic world of the SBS-EM.
Giuseppina Genduso
Function: Community Manager at the SBS-EM.
Background: after graduating with a Master’s degree in Marketing
and Corporate Communication from the ULB, Giuseppina joined
the SBS-EM as a Community Manager. During her studies she
had the opportunity to do 2 internships in Digital Marketing and
Communication at VO Group and Emakina. She also worked
as a student in Institutional Communication where she helped
with the development of the "Mobility Week 2014" campaign in
Wallonia. Her working languages are French, English, Italian and
Flemish. Today, Giuseppina is managing the digital aspects of the
Faculty (social media, newsletter, social PR…; see page 27).
veronique.simon@solvay.
edu
Tel.: +32(0)2/650.66.28
50 avenue F.D. Roosevelt
CP 145/1, B-1050 Brussels,
Belgium
giuseppina.genduso@
solvay.edu
Tel.: +32(0)2/650.67.67
50 avenue F.D. Roosevelt
Building AW1 CP145/01,
B-1050 Brussels, Belgium
veronique.simon@solvay.
Tel.: +32(0)2/650.66.28
50 avenue F.D. Roosevelt
Tel.: +32(0)2/650.66.28
50 avenue F.D. Roosevelt
CP 145/1, B-1050 Brussels,
Belgium
giuseppina.genduso@
Tel.: +32(0)2/650.67.67
50 avenue F.D. Roosevelt
Tel.: +32(0)2/650.67.67
50 avenue F.D. Roosevelt
Building AW1 CP145/01,
B-1050 Brussels, Belgium
©R.R.©R.R.
Luc Desrousseaux, PhD, HEC Montreal, Canada
"The EFMD PhD job fair was an outstanding
event for connecting with recruiters and other
candidates. I had the chance to meet a number
of university representatives from different
parts of the world during the event. The
candidate presentations and interviews were
held in a professional yet friendly atmosphere.
The event itself was very well organised, with
plenty of opportunities to socialize and discuss
recruitment opportunities. I learned a lot from
this event and I highly recommend it to those
entering the job market next year!"
Bart Verwaeren, Doctoral
Research Associate, Vlerick
Business School, Belgium
"At the EFMD job fair, I had the
chance to meet with schools
from all over the world, from
China to Australia to Colombia.
The relatively informal nature
of the meetings allowed for an
open and honest discussion of
mutual expectations. I had the
opportunity to introduce myself
and my work to a variety of faculty
members and made several
valuable connections. Just a few
weeks later, I’ve already made
plans for ‘next steps’ with several
of the schools I met and no doubt
more are to come."

12. www.solvay.edu
In Vietnam
for over 21 years
SBS-EM
Front Page12
Text: Hugues Henry
Pictures: Archives
ULB/R.R.
The presence of the SBS-EM in Vietnam
has been governed by a need to develop
management practice in this transition
economy. This non-profit mission has
continued to evolve towards a new European
university centre taking shape in South East
Asia. Michel Allé, Deputy Dean Vietnam Affairs
tells us more.
Michel Allé
1995
Creation of the SBS Vietnam programmes at
the request of the local public authorities, in
partnership with the Open University (OU)
in Ho-Chi-Minh City (Saigon), with a view to
long-term cooperation for development, sup-
ported by the Wallonia-Brussels Federation.
1997
Cooperation extended to the National
Economics University (NEU), Hanoi.
2009
After 15 years of support from the Wallonia-
Brussels Federation, SBS Vietnam continues
its development by self-funding, while main-
taining its non-profit policy.
2017
By 1 January 2017, SBS Vietnam will have a
cumulative total of 2,400 Alumni.
2018
Target year for the creation of the European
Management University (EMU), a university
centre for leading-edge managerial educa-
tion in South-East Asia, in partnership with
other European faculties and universities.
Key dates
1995
Key dates
www.solvay-mba.
edu.vn
Michel Allé, you have enjoyed a pri-
vileged perspective of SBS Vietnam
development. Remind us of some of the
key episodes in this great story…
I would like to pay tribute to two people in par-
ticular. In 1994, a Vietnamese Vice-minister
for Education, keen to seek out opportuni-
ties for cooperation, paid a visit to the ULB’s
chancellor of the time, Françoise Thys. At that
period, Vietnam was beginning to open up and
Belgium was one of the very first countries in
Europe to renew diplomatic relations with it.
Françoise Thys gave an overview of what was
happening at the ULB and her Vietnamese
guest showed a keen interest in the lifelong-
learning programmes offered by the SBS-EM.
He let the chancellor know that he wanted to
set something similar up in Vietnam. Then we
have Professor Jacques Nagels, the founder.
Françoise Thys had sent him to Vietnam with a
view to establishing local partnerships. Based
on strict criteria, he soon reached an agreement
with the Open University (OU) of Ho-Chi-Minh
City (Saigon). Courses began at the start of 1995
and were followed a year and a half later by a
similar programme at the National Economics
University of Hanoi.

13. Immersion and CSR
So what was innovative about the SBS
Vietnam programme?
OurmodelincorporatesourVietnamesepartners,
unlike the models adopted by other foreign ope-
rators out there. We believe that it is good to have
local roots, to work with people who understand
students’ expectations, the way the Vietnamese
authorities work, etc. Twenty-one years on and
this model has not disappointed. Leading profes-
sors from the SBS-EM go there to deliver courses
on strategy, finance, marketing, public manage-
ment – one of the School’s strengths – IT, etc.
Our Master’s degree in Public Management has
trained generations of high-ranking Vietnamese
public officials, as well as those in private roles in
state enterprises, multinationals, etc.
When it was founded, didn’t SBS Vietnam
have a clear CSR profile?
Our philosophy was one of cooperation for deve-
lopment, which allowed us, among other things,
to benefit for more than ten years from financial
support from the Wallonia-Brussels Federation.
This began to decrease from 2005, so we set
ourselves the target of becoming self-funding
and this has been the case since 2009, with the
Front Page 13
Linh Le Phuong,
Public Relations
Representative, with
Hélène Lambillon.
Faculty’s support. However, we remain a non-pro-
fit institution. Our ambition is to cover our opera-
ting costs, principally the missions carried out by
our teachers, and to offer Vietnamese students
high-level management training at a very reaso-
nable cost. This model involves a high number of
demands from our students. Also, in our public
management programme, there is a clear empha-
sis on the environment, regulation and ethics.
Sights set on South-East Asia
Does the future of SBS Vietnam form part
of the international plan for a European
Management University (EMU)?
We live in a world that is becoming globalised
and where competition is ever stronger, so,
without giving up on our values, we asked our-
selves: why not join forces with another local
actor? We looked into this with our French
friends at the CFVG (Franco-Vietnamese Centre
for Management Training). The deadline agreed
is 2018, but there are still a lot of stages to get
through! We will choose European partners of
the same high academic quality and with the
same standards as our own. We will take care
to ensure that they are complementary – I’m
thinking in particular about the whole field of
technology and innovation. The literacy rate in
Vietnam is very high (93%), almost 90% of the
population go through secondary education but
only 25% go on to train at university level. So our
lifelong training is really marginal, yet the need is
immense. Along with other actors, we envisage
the emergence of a regionally targeted European
project in South-East Asia (Vietnam, Cambodia,
Laos and Myanmar-Burma), with a full portfolio
from the age of 18 right up to doctorates in eco-
nomics and management, via programmes we
have been delivering for more than 20 years out
there, MBAs and specialised master’s degrees.
BUILDING THE FUTURE of SBS Vietnam
Since last July, Hélène Lambillon, Chief Operations Manager at Solvay Execu-
tive Education Vietnam, has been managing our day-to-day Vietnam affairs.
We have every reason to believe that she is the right person in the right place.
“An SBS-EM graduate, I’ve been working at Solvay ExEd for 6 years. I’m familiar
with every aspect of the job and to see it transposed to the heart of another
culture is exciting. I have the advantage of having a good understanding of
Vietnamese culture: my mother is Vietnamese and my father is Belgian. The
ideal combination!”
Hélène Lambillon is working to ensure the sustainability of teaching missions
in Vietnam. “The needs of students over there for Executive Education are lar-
gely the same as in Brussels. But they display an incredible desire to work; it’s
as if after being half asleep for decades, the country feels the need to catch
up and get on board.” As a manager, Hélène is working on “cross-fertilisa-
tion” projects with a view to putting Solvay communities in Brussels and
in Vietnam in touch.
WITHOUT GIVING UP ON OUR
VALUES, WE ASKED OURSELVES: WHY NOT
JOIN FORCES WITH ANOTHER LOCAL
ACTOR?

14. www.solvay.edu
T
he SBS-EM’s mission is to "have
a decisive and positive impact on
how economic and business chal-
lenges are addressed. With a strong
emphasis on quantitative methods,
we produce pioneering research and educate
women and men to become true leaders and
entrepreneurs in their field." Entrepreneurship
is indeed the only way to maintain a degree of
sustainability in the economy.
In teaching, the SBS-EM’s ERS policy is based
on four broad pillars: developing its core values
among all degree students; offering ERS-
centric courses and programmes; securing
affordable programmes to implement its open
Educating responsible
and ethical professionals
From Bachelors to Masters and beyond...
Education14
Ethics, responsibility and
sustainability (ERS) are part
of the core values of the
School and at the heart of
its teaching – and also of its
research and services to the
community. The five values of
the School that are implicitly
or explicitly related to ERS
include: societal relevance,
democratic governance, free
inquiry, entrepreneurial spirit
and equal opportunity.
The School sees
itself as a "social
ladder" for students
from all social
backgrounds.
Student organisations have a strong sense of
social responsibility and their objective is to help
those less well-off than themselves, irrespective
of their status, origin or nationality. Two student
initiatives deserve to be mentioned here.
The first is the Solvay Debating Society, a forum
set up by and for students, who invite experts and
students to discuss major issues of the day such
as the migrant crisis or global warming.
The second is the spontaneous solidarity
shown by the students toward the migrants who
arrived in vast numbers in Brussels and many
other places in Europe in 2015, by providing
them with food and clothing and helping
them through various administrative
procedures.
BENEVOLENT activities
WE ENCOURAGE EVERYONE
TO PROMOTE CSR VALUES MORE
SYSTEMATICALLY IN THEIR TEACHING

15. Education 15
How ERS is taught
at the School
The ERS-centric teaching at the School is
both transversal and vertical.
Programmes on ERS
Several of the School’s programmes have a clear focus on ethics, res-
ponsibility and sustainability.
- Master’s in Management Science: sustainable business and ethical
management practices constitute a central pillar of this Master’s
programme, with compulsory courses in Ethics and Sustainable
Development and elective courses and field projects in Corporate
Social Responsibility (CSR), Sustainable Development and Non-profit
Management.
- European Microfinance Programme: designed in collaboration with
professionals from the microfinance sector, its aim is to educate future
managers of microfinance-related institutions all over the world. In
this way, the EMP wishes to foster the creation of fair and efficient
financial institutions to advance economic development and to fight
against poverty.
- Management and Philosophy: this Executive Certificate brings toge-
ther top executives from the industry who are trained and debate on
contemporaneous philosophical, ethical and CSR issues. They leve-
rage these learnings in their day-to-day leadership roles.
ERS in degree programmes
In addition to the contextual teaching of ERS within mainstream courses,
over the past decade the School has developed a whole portfolio of
courses specifically dedicated to ERS issues. Many of these courses
have been developed thanks to funded chairs with an ERS focus (the
Leo Goldschmidt Chair of Corporate Governance, the Daniel Janssen
Family Chair of Mindful Leadership and Corporate Social Responsibility,
the Alain and Marie Philippson Chair in Management for Sustainable
Development, etc).
These chairs support teaching and research activities on the above
topics. Courses specifically related to these topics are offered throughout
the School’s programmes (these include: Critical Studies of Business in
Society; Microfinance: Theory and Practice, Relations between Europe
and countries in the South; Seminar on the Management of Employment
and Labour in Development Strategies; Topics in International Trade
and Sustainable Development; Multiculturalism in Europe; and
Corporate Social Responsibility).
access policy; and its range of executive pro-
grammes at reduced rates in Vietnam where
the School has a strong foothold (see page
12). The School sees itself as a "social ladder"
for students from all social backgrounds, which
underlies its low-fee policy in Bachelor, Master
and state-funded Specialised Master degrees.
ERS-centric teaching
The School aims to foster the social responsi-
bility of the future leaders it educates and
contribute to more sustainable business prac-
tices and governance. This is achieved mostly
through the considerable importance that the
School places on issues of Corporate Social
Responsibility (CSR) and sustainable develop-
ment in all its programmes. But all this begins
with the School’s policy of equal opportunity
and open accessibility.
"Being part of a University built on the fun-
damental value of "free inquiry", the School
promotes democratic and humanistic values,
which drive its corporate social responsibility",
insists Dean Bruno van Pottelsberghe.
Pictures: Archives ULB/R.R.

16. www.solvay.edu
Accuracy and objectivity
As a teaching institution, the School is very much
aware of its educational mission. This includes
a careful consideration of the values that it pro-
motes as they will affect the future ethics and res-
ponsibility of its graduates. Throughout its degree
programmes, the School nurtures its core values,
including the four listed above. "This dimension is
pervasive throughout our programmes, explains
Dean Bruno van Pottelsberghe. Professors chal-
lenge their students to seek accuracy and objec-
tivity in their papers, assignments and exams.
They invite students to question the social impli-
cations of business and economic decisions and
they open their eyes to societal and environmen-
tal challenges."
Since 2014, the School has added entries in its
course catalogue specifically to indicate whether
ethics and CSR are explicitly discussed within
the focal course and whether it contributes to
developing a critical mindset. This has made it
possible to quantify the degree of penetration
of these issues in its programmes. The result is
that 70% of the courses actively contribute to
developing their students’ critical mindset, 37%
address CSR explicitly and 23% talk about ethics
in their respective fields. "We are aware that
these statistics could be improved, recognizes
Dean Bruno van Pottelsberghe. Nowadays we
encourage everyone to promote these values
more systematically in their teachings."
Equal opportunity and open
access
One of the School’s values is "equal opportunity",
which it defines as "providing access to students
from all socio-economic backgrounds". This is
the core value that underlies the whole state-
enforced fee regime. As a result, the prices of
all the School’s state-funded programmes are
limited by law to €835. For low-income students,
Education16
REFUGEES welcome
Following the spirit of solidarity shown to 2015 migrants,
that same year a new initiative was born, aimed at welcoming
student refugees. All elements of the Faculty and the ULB col-
laborated in this.
At the start of the last academic year, Didier Viviers, the ULB
Chancellor, announced the creation of 10 Khaled al’As-ad post-
doctoral chairs, funded from their own budget and aimed at
refugee researchers, as well as the opening of a "Welcome Desk"
designed to help guide refugee students through the registration
process and related issues (accommodation, grants, etc).
A pilot faculty
At the initiative of Professor Pierre-Guillaume Méon, a dedica-
ted unit was also created at the School. "We can be considered
to be a pilot faculty. The aim was to ensure that these refugee
students received a proper welcome so that they didn’t disap-
pear into the crowd", Anne Georges, International Relations
Coordinator is happy to explain.
In practical terms this meant that these young people, forced to
flee due to conflicts in the Middle East and Central Africa, had
the benefit of individual appointments and a tour of the site. They
also all received a welcome pack (with equipment, welcome
guide, map of the university, etc).
Student sponsors and personal tutors
Nine refugee students are registered on bachelor and master pro-
grammesatpresent.Thankstothemobilisationofdifferentelements
of the School, each of them has the benefit of a student sponsor
as well as a personal tutor, often the programme director, to
whom they can turn with any relevant questions.
this fee can be further reduced either through
State aid or university support. Moreover, disad-
vantaged students have access to a number of
scholarships and can be coached by a support
team. More specifically, the main support ser-
vices offered to needy students in state-funded
programmes are the following:
- CUD Scholarships in Microfinance: students
of the European Microfinance Programme
coming from developing countries may
obtain further scholarships (covering their
living expenses) thanks to a partnership with
a development and collaboration fund (CUD);
- Marie-Christine Adam Foundation: one of
Marie-Christine Adam’s most significant
contributions to the School is to encourage
students to participate fully in the School’s
international exchange programme;
- ULB Social Services: this offers the following
services to all Bachelor and Master students:
financial aid, scholarships, access to infor-
mation, promotion of social rights, student
counselling and guidance.
The School’s Open Enrolment privately-funded
programmes offer also reduced fees to econo-
mically disadvantaged students and NGOs.
9 refugee students
are registered on
bachelor and mas-
ter programmes at
present.

17. Bruxelles • avenue Louise • place Flagey • Toison d’Or • parc privé • quartier européen
Si vous aimez
la haute couture,
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également la
haute architecture.
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Appartements exclusifs à deux pas
de l’avenue Louise à Bruxelles.
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• projet prestigieux sur le site des anciens
bureaux de Solvay
• résidences de luxe dans un parc privé
• architecture moderne, finition soignée
• appartements spacieux avec terrasses bien exposées
• près de la Toison d’Or et de l’avenue Louise
• à proximité du quartier européen
• info : www.ernest-the-park.be ou 02/201 00 01
Bruxelles • avenue Louise • place Flagey • Toison d’Or • parc privé • quartier européen
powered by

18. www.solvay.edu
Research18
Mission: to have
an impact on society
Staff members and scientific contributions
The principle of free inquiry underlies the academic freedom that guides the
School’s research. It ensures full scientific and philosophical independence, a
precondition to scientific integrity in the School’s eyes.
Pictures: Archives ULB/R.R.
"Selectivity and Transparency in Social Banking: Evidence from Europe"
How do social banks signal their social commitment
to motivated funders? This paper hypothesizes that
two main channels are used, namely selectivity and
transparency. We test these predictions using a rich
dataset comprising balance-sheet information on
5,000 European banks over the 1998-2013 period.
The results suggest that social screening leads
social banks to higher project selectivity compared
with mainstream banks. Social banks also tend to
be more transparent than other banks. However,
combining selectivity and transparency can result
in excess liquidity. Overall, the empirical findings
not only confirm our theoretical hypotheses, but
also raise challenging issues on the management
of social banks.
S. Cornée, P. Kalmi, A. Szafarz, Selectivity
and Transparency in Social Banking:
Evidence from Europe. Journal of
Economic Issues (2016, 50, pp. 494-502).
This article was awarded the 2016 Warren
Samuels Prize by the Association for
Social Economics, ASSA Meetings,
San Francisco.
Ariane Szafarz

19. Research 19
Research on ERS
The School has a number of areas of investigation that are closely related to
sustainability and responsibility. Overall, the School’s research on ERS involves:
- a very active research unit on microfinance (CERMI)
- four research chairs relating to ERS: on CSR, Sustainable Development,
Corporate Governance, and Multiculturality
- numerous publications on ERS-related issues
- active involvement of core faculty members and researchers in sustainable
development associations and interest groups.
Our faculty members and researchers intensively contribute to social and poli-
tical debates as well as to strategic decision making within the corporate
world, contributing new solutions and challenging the status quo.
"Watchdogs of the Invisible Hands: NGO Monitoring and Industry
Equilibrium"
Globalization has been accompanied by rising
pressure from advocacy non-governmental orga-
nizations (NGOs) on multinational firms to act
in a socially responsible manner in developing
countries. There are three important empirical
puzzles/patterns concerning advocacy NGOs and
multinationals that have already been documented:
there is a steady general rise of NGO activism; advo-
cacy/activist NGO pressure leads to exit of firms
from the country; and firms in different industries
respond in a very different manner to NGO pres-
sure. In this paper, the authors build a theoretical
model which explains these three puzzles within a
single framework. The main idea of the model is
that NGO pressure affects the industry structure
(markups and firm entry), but at the same time,
the industry structure – which implies how many
firms in the industry act in a socially irresponsible
manner – affects the NGOs’ incentives to conduct
watchdog and pressure activities and campaigns.
G. Aldashev, M. Limardi, Th. Verdier.
Watchdogs of the Invisible Hands: NGO
Monitoring and Industry Equilibrium.
Journal of Development Economics
(2015, vol. 116(1), pp. 28-42).
"Economy of Mutuality: Merging Financial and Social Sustainability"
The article develops a concept of economy of
mutuality as an intellectual mediation space for
shifts in emphasis between market and social
structures within economic theory and practice.
Kevin T. Jackson argues that economy of mutua-
lity provides an alternative frame of reference to
the dichotomy of market economy and social
economy, for inquiry about what business is for and
what values it presupposes and creates.
K.T. Jackson. Economy of Mutuality:
Merging Financial and Social
Sustainability. Journal of Business Ethics
(2016, 133(3), pp. 499-517).
"A Case Study of Microfinance and Community Development Banks in Brazil:
Private or Common Goods?"
Inclusive financial sectors are essential to poverty
alleviation. While microcredit can be governed as a
private good, self-managed civil society organiza-
tions propose an alternative way of managing finan-
cial services. Brazil’s Community Development
Banks (CDBs) are growing and dynamic manifes-
tations of these non-profit organizations. Based
on field research in Brazil, this article uses Elinor
Ostrom’s design principles of common goods to
analyse CDBs’ microcredit system. The results
suggest that private goods such as microcredit
could be altered when they are governed by com-
munity self-managed enterprises. They become
hybrid goods as they mix the characteristics of
private and common goods. This change is facili-
tated by specific organizational arrangements such
as self-governance that emerge from grassroots
dynamics and the creation of collective choice
arenas. These arrangements help strengthen the
inclusion properties of non-profit microcredit
services.
M. Hudon, C. Meyer. A Case Study of
Microfinance and Community
Development Banks in Brazil: Private or
Common Goods. Non-profit and
Voluntary Sector Quarterly (2016, 45(4),
pp. 116-133).
Gani Aldashev
Kevin T. Jackson
Marek Hudon

20. News
www.solvayschoolsalumni.net
What better gift than to invest in yourself?
Solvay Schools Alumni has launched a new Development
Programme aimed at empowering alumni to achieve greater
professional and personal impact.
The Centered Leadership workshop held in September
– the first of such workshops – was, for each of us, more
than worth the investment in time and money. Sixteen
alumni from different backgrounds embarked on a journey
to discover better ways of managing themselves and
their teams. Addressing issues such as energy, emotion
and fear and unlocking our potential by gaining a better
understanding of how we function… it was truly inspiring!
So when can YOU TOO enjoy the opportunity to develop
your potential in a safe and friendly environment, connecting
with like-minded alumni? New workshops will be available
in 2016-17 focusing on the opportunities and challenges we
face in our professional lives – so keep an eye on your email!
"Good leaders look after themselves too and that is what you
learn here... I liked the practical side a lot: sharing ideas with
partners / teammates was a rich and enjoyable experience.
I met some great people!" Luc, ICS 1990
"My thanks to SSA for launching this new cycle of the
Personal and Professional Development programme with
this engaging residential session. There are many other
workshops, books, seminars etc on self-assessment and
leadership, but this one really provides the participants
with very practical and effective tools through an intensive
series of interactive group exercises in a sound, open
and respectful atmosphere. The magic is that the whole
group positively wants to keep in touch and extend their
experience together and with others through a Development
Community." Benoît, AMP 2012
"Time is precious, and so am I. Taking 36 hours out to reflect,
share, discover and appreciate my qualities and those of
others in an open and energized environment, has given
me "Brain Food" to explore. What an enriching experience!"
Clare, Exec Master IT 2012
"Being more conscious of the 4 sources of energy, we
learned the importance of having well-balanced energy
levels to improve professional performance and life
satisfaction. I would like to thank not only Gauthier and the
SSA association for organising this workshop, but also the
group itself for the exchange of experiences and the positive
energy among us." Freddy, HIS 1994
"Inspiring and powerful seminar! I took a major step
in changing my professional life the very day after the
training… Thank you also to SSA for setting up the Personal
Development programme, a positive step in the services
offered to Alumni. Looking forward to the next workshop :)"
Marianne, ICS 1981
Editorial
©R.R.

21. 21News
SolvaySchoolsAlumni Sponsors
What made you decide to move to São Paulo?
> Yves Jadoul: In 1994, a wind of change was
blowing through Brazil, with the country
implementing massive privatisation reforms.
It was a period of economic exuberance for
investors. At that time, I was running a con-
sultancy company in Luxembourg (Agora
Consulting Luxembourg), but I was looking for
something more dynamic, where I could make
the most of my knowledge of Brazilian culture
as well as the professional rigour I had acquired
in Europe. Looking back, it seems to have been
a rewarding decision. Returning to Brazil, I worked in turn
as head of the M&A department for Banco Sudameris Brasil
(Banca Commerciale Italiana-BCI), for WestLB, as President
of Vetoquinol Brasil, and since September 2016, I’ve been
President of the Groupe SERAP Brazilian Subsidiary. Since
2004, I’ve been Managing Partner of Viability & Finance,
active in M&A, strategic advisory, operational audits, cor-
porate governance and compliance implementation and
general management of European local subsidiaries. Over
the past decade, I have also been active as President of
Belgalux (Belgian-Luxembourg Chamber of Commerce),
Eurocamaras (Association of the Bi-Lateral European
Chambers of Commerce in Brazil), and the Eurocamaras
Mediation and Arbitration Chamber, which has given me a
good overview of how European cultures can merge with
the economic society of Brazil.
Compared to Europe, what are the main differences in the
working environment in Brazil?
> Y.J.: In Brazil, the state is still developing its structure and
there is no proper welfare state. On the one hand, this means
that people have to work hard in order to provide themselves
with what are regarded as basic services in Europe, such as
healthcare, education, and even personal security. On the
other hand, this results in a more dynamic working environ-
ment. In Brazil, people are determined to work and qualified
people are highly sought after. So, while working here can be
tough, you really are rewarded for what you do, according to
your true value.
On the whole, how would you describe Brazilian society?
> Y.J.: Brazil is a country of immigration, widely open to
cultural differences. People are extremely tolerant, and preju-
dice is a criminal offence taken very seriously. Brazilians are
curious, learn willingly, and are keen to excel. In Brazil you
won’t be judged because of where you come from, but on
what you do.
Meet our Ambassadors!
Yves Jadoul in São Paulo
With one foot in Brazil and one in Belgium since
his childhood, Yves Jadoul is accustomed to
bridging cultures. Following his early professional
experience in Europe and an EMM from SBS-EM
[formerly CEPAC 1990], his taste for adventure led
him back to São Paulo, where opportunities await
those ready to seize them.
If you live outside Belgium and would like to join or
create a SolvaySchoolsAlumni network in your country
of residence, if you’d like to (re-)form bonds with Solvay
colleagues within your company, or if you’d like to
strengthen relations of friendship between your fellow
colleagues... then, the job of Ambassador is made for you!
Please contact our office to discuss this further:
leen@solvayschoolsalumni.net
How would you like
to become a
SolvaySchoolsAlumni
Ambassador?
As an Alumni Ambassador, how do you
intend to support graduates from the
SBS-EM?
> Y.J.: In South America, people don’t meet as
easily as in Europe and creating networks is challenging.
Countries are very large and big cities are densely popu-
lated. São Paulo itself is home to around 22 million people.
However, it’s very important for Solvay alumni to keep in
touch with each other. Not only is the alumni community
tiny compared with some European countries, but the label
‘Solvay’ itself could enjoy a higher profile. By improving dia-
logue between alumni in South America and alumni from
the rest of Europe, I would like South America to become
more aware of the SBS-EM’s reputation, as well as the value
of its graduates.
yjadoul@viability.com.br
www.viability.com.br
Text: Clément Jadot
as well as the professional rigour I had acquired
> Y.J.: In South America, people don’t meet as
©R.R.
©R.R.
©R.R.

22. www.solvayschoolsalumni.net
Events
Mekong Plus is an NGO active in Vietnam and
Cambodia. It bases its community development
activities around 3 key principles:
• people's participation
• priority of the poorest
• low cost, replicable actions.
Each year 200,000 people benefit directly
from Mekong Plus’s handicraft, environmental,
agricultural and health programmes.
www.mekongplus.org
Brussels 20k: 31 Alumni runners
with 3 top performers!
For 10 years now, the Brussels 20k
has been an annual event for the
Solvay Alumni Running Team. While
our team this year was smaller in
size, we would like to recognize
the impressive performance of 3 of
our classmates: Christophe Petit,
Thomas Van Aken, and Mathieu
Poma who all ran the race in under
1 hour 30 minutes and finished in
the top 2000.
We were delighted to be in partner-
ship with the NGO Mekong Plus,
an NGO active in development
in 550 towns in Vietnam and
Cambodia. The association opened
their stand to us for the morning’s
meeting point and after-race drinks
by the Cinquantenaire.
Join us for the next event on
28 May 2017!
reza.guillaume@gmail.com
Partnership with
the NGO Mekong Plus
Partnership with
the NGO
©R.R.
©R.R.

23. 23
SolvaySchoolsAlumni Sponsors
Events
CoordinationSolvaySchoolsAlumni:MichaëlvanZeebroeck|E-mail:michael@solvayschoolsalumni.net
Fabienne BECKER • fabienne@solvayschoolsalumni.net • Sophie PAQUET • sophie@solvayschoolsalumni.net • Michaël van ZEEBROECK
• michael@solvayschoolsalumni.net
Avenue F.D. Roosevelt 50 (CP141) • 1050 Bruxelles • Tel. +32 2 650 35 51 • www.solvayschoolsalumni.net
Office Team SolvaySchoolsAlumni?
On 23 June, at its third event, the ABC played host to two
talented guest speakers: Joao Terlica, Managing Director at
Sagaci Research, and Pierre-Alexandre Koch, Manager at AT
Kearney. Before the standing buffet, they gave the assembled
group a thorough analysis of retail market opportunities in
Africa. Those attending – a group of 61 interesting profiles –
had the opportunity to ask questions and express opinions
on this topic. No doubt about it… it was an event not to be
missed!
Pierre-Alexandre Koch
(Manager – AT Kearney)
Pierre-Alexandre highlighted the current
trends in the African retail sector:
economic and GDP growth, an evolving
shopping culture, and emerging shopping
centre opportunities. The young middle
class in Africa is growing, opening up a
whole new competitive landscape in the
retail sector. So, even though the short-
term growth potential of the sector might
initially seem disappointing, the long-term potential
rewards are enticing to investors. Preparation, determination,
commitment and knowledge are key factors of success in
seizing African retail market opportunities.
After illustrating the three stages of the African retail value
proposition (basic offerings, speciality retail entry point,
and differentiation), Pierre-Alexandre complemented his
conceptual assessment of the retail market in Africa with
concrete data.
Joao Terlica (Managing Director
– Sagaci Research)
Joao discussed the challenges that
modern supermarket chains are currently
facing in Africa. Even though such chains
are expanding across the continent with
higher intensity in large economies,
market entry remains unclear.
The main challenge is that of distribution.
When it comes to food, middle to
high income households prefer to
seek informal channels, and would rather use modern
supermarkets for other product ranges such as personal care
and hygiene. Traditional retailers remain the predominant
channels in most of Africa.
Furthermore, the diversity of the African continent, coupled
with the fragmented spending habits of the population, will
force players to develop flexible strategies.
Africa Business Club:
Middle Class as an opportunity
New Director of
Handicap International
Belgium
The humanitarian
organisation Handicap
International recently appointed
Jean Van Wetter as Director General
of its Belgian headquarters. He replaces
Vincent Slÿpen after six years at the head
of the organisation and will be responsible
for pursuing the international development
work of this NGO, which has a presence in
60 countries.
Jean Van Wetter worked as a management
consultant for a number of years with
Deloitte Consulting before devoting his
career to the international development
sector. He has more than fifteen years’
field experience in managing development
projects in Asia and Africa, including eight
years with Handicap International in China
and Cambodia. His areas of specialisation
are disability, education, health, means of
subsistence and the development of the
private sector.
New Director of
Handicap International
Belgium
The humanitarian
organisation Handicap
International recently appointed
Jean Van Wetter as Director General
Jean
Van Wetter
(Ingest, 2000)
Pierre-Alexandre Koch
(Manager – AT Kearney)(Manager – AT Kearney)
©R.R.
©R.R.
©R.R.

24. www.solvay.edu
STÉPHANE KURGAN
Success Story24
A fan of video games since forever, Stéphane Kurgan is now on the board of King,
the company behind the global hit "Candy Crush". Though he’s never quite got to
"game over", it hasn’t all been plain sailing for him either.
The "King" who skived
A
s any good gamer knows, you never move
forward in a straight line in a video game!
Quite the opposite: to reach the higher
levels or to earn bonuses, you have to be
ready to change course, take shortcuts,
explore, go backwards and try new approaches.
And if it doesn’t work out – so what! "Game over"
never killed anyone and there's always time to start
another game.
And what works for video games is something that
Stéphane Kurgan seems to have applied since the
end of his teenage years. The son of a Polytechnique
graduate father and a mother who taught at the
ULB, and with a "Solvay boy" brother, Stéphane was
a bit of a rebel as a youngster and didn’t like school:
"At that time I didn’t get on with my parents. I used
to skip class and didn’t finish secondary school! But
I did want to study. One day, I talked with my mother
about this. She was an historian but had also studied
economics and as I liked this subject, I followed her
advice – I took and passed the polytech entrance
COO King Digital
Entertainment
Economic Sciences
1989
Text: Candice Leblanc
Pictures: King.com/R.R.
exam, which meant I could start stu-
dying Economic Science at the ULB…
without finishing secondary school!"
Hockey and video games
Students from Solvay and from the
Economic Sciences department share
half their classes and there are more
Solvay students than Economics
students. As a young man, Stéphane
made friends in both groups. In fact, they
formed a combined hockey team and
he joined it at the end of his first year.
He has some great memories of his time
studying, even though, as in the past,
he didn’t always attend class! "I relied a
lot on the study syllabus because I had
some student jobs. In fact, I only really
studied in my downtime… between two
gaming sessions! I used to play a lot of
"Dark Castle" on Macintosh with a friend

25. thesortofpersontofollowawell-trodden
path. He was quick to change direction
when he felt that development oppor-
tunities and his working environment no
longer met his aspirations and values – as
the next stage of his career also shows…
Networks and contacts
With an MBA in his pocket, he was
taken on by the Media Services divi-
sion of Philips. But he didn’t stay there
long: in 1997, the multinational sold off
all its multimedia activities. No big deal!
In Fontainebleau, Stéphane Kurgan
received an offer from McKinsey. He
got back in touch with Pierre Gurdjian(2)
,
who took him on. This "really great
experience" in consultancy lasted only
two years but the connections he made
there would prove decisive later on.
"Networks are very important, whether
it’s those you form during your studies
or the people you meet in your working
life." In fact, almost all the changes
of sector and company Stéphane
Kurgan has made were made thanks to
someone who had remembered
from Solvay. These long sessions nearly cost us a few
exams, but in the end we always made it through!"
Stéphane Kurgan could hardly have imagined that one
day he "would have to" game during work meetings…
Mentors and back to school
After a year of further study in Italy at the John Hopkins
University SAIS School, where he began to build up his
network of international connections, the young eco-
nomist was invited to join the Electronic Publishing
arm of a business consultancy firm led by Bernard Van
Ommeslaghe(1)
, its memory promoter: "Bureau van Dijk
sold financial data from major companies in electro-
nic form", he explains. "I started out as a sales rep for
Scandinavia and the Americas. I travelled to thirty or so
countries. When you leave uni, international sales is a
very formative experience: you learn a lot about people
and yourself because when you’re abroad you have to
learn how to get by. Also, I was fortunate enough to
have mentors and good bosses from the start of my
career. I really liked Bureau van Dijk but the shareholders
were locked in, the management quite young and well
established and the future already decided. So, in 1994,
I decided to open the door to a little career change…"
With two friends from Solvay he studied for and passed
the GMAT exam to get on to the MBA course at INSEAD.
By 1995, as we’ve already seen, Stéphane Kurgan wasn’t
Success Story 25
off school Stéphane Kurgan was a bit
of a rebel as a youngster:
"At that time I didn’t get on
with my parents. I used to
skip class and didn’t finish
secondary school!"
1967
Born in Brussels
1989
Degree in Economic
Sciences from the ULB
1990
Degree in International
Relations from John
Hopkins University SAIS
School (Italy)
1990-95
Sales and product
manager with Bureau
van Dijk Electronic
Publishing BV
1995-96
MBA at INSEAD
(Fontainebleau)
1996-97
Investment Manager
with Philips Media
Services
1997-99
Consultant with
McKinsey & Company
1999-2002
Managing Director with
enba, plc.
2002-2004
Advisor with Capital Z
Partners
2005-2010
Chief Financial Officer
with Tideway Systems
Ltd.
From 2011
Chief Operating Officer
with King Digital
Entertainment
Inc.
BIOGRAPHY
in brief

26. www.solvay.edu
him when a particular opportunity or a
specific need came up. It was former work
colleagues from McKinsey who founded
enba plc, a digital bank in Dublin which
hired Stéphane in 1999. It was also through
the McKinsey network that, in 2005, he
moved to Tideway Systems Ltd, a British
firm selling business management software
and IT systems, where he spent five years in charge
of finance and contracts. And it was thanks to the
Apax investment fund, a shareholder in enba plc and
Tideway Systems Ltd, that he joined King in 2011.
Right place, right time
The 2008 financial crisis hit Tideway Systems
hard. Stéphane left the company in 2010 when the
company was sold. That year he worked as a free-
lance consultant while looking for a new challenge.
"One day, a former shareholder called me and asked
if I’d have a look at a company he had invested in
a few years earlier. This was King.com, an internet
game design company which was starting out on
Facebook. I met with the five company founders, it
all went well and, in March 2011, I joined them as
Chief Operating Officer." He didn’t know it at the
time, but he had arrived at just the right moment!
The following month, King launched "Bubble Saga",
the first "Saga-type" game on Facebook and its
success enabled the company to develop. But it was
thanks to the now mega-famous "Candy Crush",
launched in 2012, that King really took off! In 2013,
Stéphane joined the board of directors and in 2014,
the company went public on the New York Stock
Exchange. The following year, it was bought for
Success Story26
5.9 billion dollars(!) by Activision Blizzard,
developer of the famous "Warcraft" and
"Call of Duty" video games.
Today, King has a catalogue of around
200 games and 2000 employees. Nearly
50billiongamesareplayedby400 million
gamers every month. The Belgian COO
manages the company’s day-to-day acti-
vities: the twelve game design studios,
the marketing, the technology platforms
and relations with major external plat-
forms like Facebook, Google, Apple, etc.
"I’m lucky because I have a great affinity
with our products. I try out nearly all the
new games … sometimes at meetings!"
Not bad for someone who used to skive
off school and play video games instead
of studying…!
Three keys to success
Not yet fifty, Stéphane Kurgan’s career
is far from over. Where will he be in
ten years’ time? "No idea. Not at home,
anyway! For the moment I’m fine where
I am." And when you ask him what advice
he’d give to fresh young graduates,
he takes a few seconds to respond.
"Obviously, you need to find something
that you can feel passionate about in the
medium and long term. But, at the start
of your career, sales and consultancy
work are very formative experiences.
They will help you acquire the three
key skills you need to have a successful
career: problem analysis, communica-
tion and human resource management
and interpersonal relationships. You
don’t have to learn them the hard way;
there are tools and places where you
can learn these skills. And be sure to
keep on training after your studies are
over!" Then, you just need to have a bit
of luck, keep a curious and open mind
and dare to take a few risks. Of course,
you don’t always win the game, but in
video games as in real life, that’s usually
how you move on to the "next level"!
If you’d like to suggest an
alumnus or alumna or present
your project in this section,
write to us at sbs-em@elixis.be.
I TRY OUT NEW
GAMES DURING
MEETINGS
colleagues from McKinsey who founded
enba plc, a digital bank in Dublin which
hired Stéphane in 1999. It was also through
the McKinsey network that, in 2005, he
moved to Tideway Systems Ltd, a British
LEISURE and hobbies
Sport: "Sport is important to get rid of stress and spare your colleagues! And that’s
what the role of manager is all about! I enjoy skiing and three to five times a week
I go running, cycling or visit the gym. I do this early in the morning so that I feel
relaxed when I get to the office."
Reading: "I mainly read the economic press, modern novels and detective stories."
Series: "I’m a fan of TV series, especially non-US series. The Scandi ones are
very good: "The Bridge", "Borgen", etc."
(1)
Former President of SBS-EM
and member of the Banking
and Financial Commission.
(2)
See the "Success Story"
article in issue 55 on Pierre
Gurdjian, current President of
SolvaySchoolsAlumni and of
the ULB Administrative Board.

27. G
iuseppina Genduso (see her intro-
duction on page 10) has taken on an
unprecedented role at the SBS-EM as
the new Community Manager. "My role
is not only to raise our online visibility
but also to create new digital tools. It is essential for
the SBS-EM to have a strong and coherent online
counterpart, mainly to complement everything that
is developed offline, like this magazine".
e-reputation
A first initiative in this direction is the creation of a
modern and dynamic digital newsletter: Inside
Solvay – Connect and Grow with Us. “Adapted for
PCs, mobiles and tablets, this newsletter is aimed
at the whole socio economic environment of the
Faculty, including public and private institutions and
of course the School’s stakeholders. It offers a 360-
degree overview of everything that is going on in
and around the School: Research findings, corporate
projects, new programmes, conferences, student
Close up 27
The School goes
digital
Social Media
initiatives, ...”, Guiseppina explains
enthusiastically. “Combined with our
social network presence and with links
to new videos on our YouTube channel
for example, it will help strengthen our
reputation”.
Our Network’s networks
In order to strengthen the School’s
visual identity, the Inside Solvay –
Connect and Grow with Us newsletter
has a look and feel that will be rolled
out across all the social networks where
the SBS-EM is found. "When I started
building a list, we were delighted to dis-
cover that we were already
very active on certain
social networks, Facebook
in particular, but in a rather
disorganised way", our
young Community Manager
reports. "So we have a dual
task ahead: better targeting
and coordination of these ini-
tiatives, with a view to mutual
enrichment and to increase the
impact and enhance the presence of
the SBS-EM where it was too low key,
like on Instagram for example."
SolvayConnect, as its name suggests, is a very rich open tool ena-
bling everyone to keep in touch both with the School and with its
Solvay network. Set up nearly two years ago, it is now expected to
grow and enrich rapidly with your participation.
Getting connected is very simple and can be performed via your
LinkedIn or Facebook account, but also via your email.
Once connected, the resources available are vast: checking
and publishing of news and job offers, photo sharing and creating
albums (by promo, for example), setting up topic-based pages (by interest: golf,
sailing, etc) or based on shared likes, and open diary for your events.
solvayconnect.com
SolvayConnect: the "ALUMNI FACEBOOK"
the SBS-EM is found. "When I started
building a list, we were delighted to dis-
disorganised way", our
young Community Manager
reports. "So we have a dual
task ahead: better targeting
and coordination of these ini-
tiatives, with a view to mutual
enrichment and to increase the
SolvayConnect, as its name suggests, is a very rich open tool ena-
bling everyone to keep in touch both with the School and with its
Solvay network. Set up nearly two years ago, it is now expected to
and publishing of news and job offers, photo sharing and creating
Text: Hugues Henry
Pictures: R.R.
The School has had a substantial social network
presence for a number of years. Until now the result
of isolated initiatives, there was a need for this to be
coordinated by a Community Manager to energise
and increase the SBS-EM’s digital impact.
The SBS-EM with 1 click
Web: www.solvay.edu
Facebook: www.facebook.
com/Solvay.edu/
Twitter: twitter.com/
SolvayEDU
LinkedIn: www.lin-
kedin.com/company/
solvay-brussels-school-of-
economics-and-manage-
ment-sbs-em---ulb
YouTube: www.
youtube.com/user/
SolvayBrusselsSchool
Instagram: www.instagram.
com/solvay_edu/

28. www.solvay.edu
2011
Encounter with
co-founder
Joost Damad and
development of a
first prototype for
virtual car keys
October 2014
Launch of Productize
January 2015
Funding from Innoviris
(Brussels’ agency
for innovation
promotion)
INSIDE
Productize
HAROLD GRONDEL
Enterprise Spirit28
In recent decades, the Internet has increased
connections between people all over the world. But
this is just old hat for Harold Grondel whose focus
is on the next gigantic wave: connecting things. In
2015, he created the first Internet of Things Agency
in Belgium: Productize.
Harold Grondel is
convinced that the
Internet has vast oppor-
tunities to offer... "I even
started a mobile app
agency back in the early
2000s!"
Productize
Making the most of the
Have you always been an internet addict?
Not at all! On the contrary, I’ve always favoured
human interaction over spending time in front of a
computer. During my studies at SBS-EM for example,
I was very involved in organising events and social
gatherings. After finishing my Master’s, I didn’t want
to apply to the Big Five consulting firms (now the Big
Four) as most of my friends did and instead decided
to work for a few years in the entertainment techno-
logy business (a group of SMEs led by Philing Live).
My interest in the Internet came a bit later when I
realized the vast opportunities it had to offer. I even
started a mobile app agency back in the early 2000s,
but it proved a bit too early given that the iPhone
didn’t even exist at that time…
Prototyping connections
How did you come up with the idea of
Productize?
It’s a funny story. I was working as an external consul-
tant for D’Ieteren at the time, helping to develop
a new car-sharing system. Some technical issues
were hindering development but the team didn’t
have any technology experts on board and I wasn't
able to get them to understand the solution I had in
mind. I started looking for a prototyping agency in
order to present my ideas more concretely but as I
couldn’t find one I decided to do it myself: I bought
electronic components on eBay and meticulously
developed a prototype of an application that made it
possible to open and start cars using smartphones.
Joost Damad, the engineer from whom I bought the
components helped me throughout the process; he
later became my partner in Productize. A few weeks
after meeting Joost, the prototype was ready. I
remember feeling a bit ridiculous presenting my

29. 29Enterprise Spirit
"Internet of Things"
little cardboard box full of electronic components
to D’Ieteren’s CEO (who at that time was Jean-Pierre
Bizet, Professor at SBS-EM). Yet the only question he
asked was "who are you working for?" The company
hired me to develop the solution further – and from
a car-sharing operator they became a technology
provider. Seeing the value of real-life validation,
Joost and I decided to launch our agency.
What is Productize’s mission?
Our mission is to accelerate innovation within com-
panies that often lack the skills and methods to turn
concepts into tangible ideas. First of all we help
them understand the challenges and opportunities
of the Internet of Things. We evaluate the potential
impact on their activities of connecting products.
Then, we develop a new business model and vali-
date it with our prototyping abilities.
Could you give a concrete example?
Of course, I know this can sound a little abstract (he
laughs). For example, an air conditioning company
had a vision of starting a new business model of
connected air conditioning systems. We helped
them test their idea in real life by connecting their
devices through small prototype batches and asses-
sing the opportunities for monitoring and optimizing
energy. In only a few weeks, their idea was tested
and validated. Similarly, we had a project to connect
swimming pools in order to monitor water quality
and were able to provide our client with proactive
maintenance.
Pros and cons of the Internet of
Things
Is it easy to get people and companies
interested in your services?
It’s still a challenge. In Belgium and in Europe in
general people and companies don’t yet feel the urge
to embrace the Internet of Things. In the first year,
we had to pitch a lot in order to assess customers’
maturity on the topic and help them understand
the challenges and opportunities of connecting
their products and services. However, Belgium has
a great technology industry and I remain hopeful
that we’ll be able to divert it into customer services
before big multinationals take over all the markets.
1 Trust yourself
"Launching a business is all about yourself. You know better than anyone
what drives your motivation and energy. In the end, you are the one who will
have to wake up every morning and get things done."
2 Keep your ears wide open
"Even when you think you know it all, never stop listening to others, inclu-
ding your partners, customers, potential clients, family … it’s the only way to
validate or reconsider your ideas and to open up new perspectives."
3 It’s not about the money
"Launching a business is about achieving your goals; and if money becomes
your driving force, don’t be surprised if you fail or end up depressed."
4 Don’t become a workaholic
"Whatever level of stimulation you may find in your business, always try to
keep a work/life balance. Work, family, social life, creativity, sports, all fields
of life are important in giving you the energy and happiness you need to
keep on going."
5 Don’t be afraid
"When you think that you won’t succeed, that’s fine: it means you are a per-
fectionist. But never forget that you are more capable than you think."
5 PIECES OF ADVICE to budding entrepreneurs
Ingest 1998
Founder of
Productize
In your opinion, what will the
world look like in a few years’ time?
To me, there is no doubt that everything
will soon be connected. Today, the
world is already massively connected
and in a few years’ time the same will
be true of our home, fridge, washing
machine and even our tooth-
brush! This sounds completely
freaky but it’s already happening.
So it’s essential that all actors, and
especially companies and public
agencies, start understanding the
potential consequences of the
Internet of Things and become
active stakeholders in this evolu-
tion. As a society, we need to decide
what should and should not be done
and to set limits. Just think of all
provider. Seeing the value of real-life validation,
Our mission is to accelerate innovation within com-
panies that often lack the skills and methods to turn
concepts into tangible ideas. First of all we help
them understand the challenges and opportunities
of the Internet of Things. We evaluate the potential
impact on their activities of connecting products.
Then, we develop a new business model and vali-
Of course, I know this can sound a little abstract (he
laughs). For example, an air conditioning company
be true of our home, fridge, washing
Internet of Things and become
active stakeholders in this evolu-
tion. As a society, we need to decide
what should and should not be done
and to set limits. Just think of all
Text: Maroussia Klep
Pictures: Frédéric
Raevens

30. www.solvay.edu
the concessions we’ve already made in
sharing private data through our smart-
phones, in exchange for the great ser-
vices it can provide…
Are there also positive aspects to
this evolution?
Of course, the Internet of Things pro-
vides great opportunities too and that is
what stimulates me in my work. First of
all, it allows companies to offer valuable
services to customers. For example,
monitoring homes can be very useful
for the elderly and for smoke detection,
and connecting fridges and washing
machines makes it possible to handle
energy and water consumption more
efficiently. More significantly, network
connectivity could help address one
of the biggest challenges of our time
– resources management at times of
steady demographic rise. Connecting
things such as water pipes, tractors or
oil fields makes it possible to monitor
resource consumption better, avoid
waste and potentially improve global
resource distribution.
A vision for society
How do you make sure that Productize acts
responsibly?
To us, it is essential that the agency works in accor-
dance with our vision for society. Therefore, we set
limits in terms of the clients we work with and the
projects we help develop. For example, we decli-
ned to assist a leisure company with its project to
connect plastic weapons. We also signed an IOT
manifesto setting guidelines on data management
and privacy protection. Alongside our work, we
organise educational activities in schools to help
kids understand the challenges of our times and
the evolution of technology. Our main goal is not to
promote the Internet of Things but to help compa-
nies take the lead in its development and guide it in
the right direction.
30Enterprise Spirit
info@productize.be
productize.be
Co.Station / Productize,
place Sainte-Gudule 5,
1000 Brussels, Belgium
The INTERNET of Things
The term was first coined in 1999 by Kevin Ashton, a British visionary and technology
pioneer. He used it to describe a system in which the Internet is connected to the phy-
sical world (e.g. to vehicles, buildings and any other item) through sensors and network
connectivity that enable these objects to collect and exchange data.
Ashton explains that in the 20th century, computers were brains without senses, that
could only do and remember what humans told them. But in the 21st century, the
Internet of Things enables computers to sense things and collect data themselves.
Examples include GPS-based location sensing, heart rate monitors and self-driving
cars. Research has shown that by 2020, approximately 20 to 30 billion devices will be
connected to the internet. Ashton points out that this will bring immense opportunities
in terms of improved efficiency and data accuracy, economic benefit, health and
environmental monitoring, better energy management etc. Yet, as Harold Grondel
has shown, it also raises a number of concerns and challenges that should be
closely monitored and kept under control.
If you’d like to suggest an
alumnus or alumna or
present your project in
this section, write to us at
sbs-em@elixis.be.
NETWORK CONNECTIVITY
COULD HELP ADDRESS ONE OF THE
BIGGEST CHALLENGES OF OUR TIME –
RESOURCES MANAGEMENT AT TIMES
OF STEADY DEMOGRAPHIC RISE

31. I
t’s 8.30 am and David jumps on his bike to cycle
to work. Today, he will harvest three gardens
in Uccle and Linkebeek. None of them are his
property; they are provided for use by neigh-
bours. This way, David can extend his crops
of vegetables while landowners get fresh produce
on a weekly basis. "I love spin farming (Small Plot
Intensive Farming) because it’s an efficient
model," David explains. "It only requires small
areas of land and hence low investment.
We don’t use big trucks and sophisticated
machines. The system relies on strate-
gic land planning and a local distribution
network of markets and restaurants."
A recent passion
Carrying on with his work, David points out the varie-
ties of plants around us. He differentiates between
"quick crops" such as salad rocket and radish ready to
pick in 45 days and "steady crops", such as tomatoes
and courgettes, which take longer to grow but can
be harvested three times or more. Both are carefully
chosen and grown in line with the seasons.
Listening to him, you would never guess that David’s
passion for farming only developed two years ago.
"I had never worked in a garden before!," he admits.
"But there came a point when I was fed up following
the same routine sitting in front of a computer.
Off the Beaten Track 31
DAVID ERRERA
"It always seems
impossible until it’s done,"
said Nelson Mandela. To
David Errera, who was once
an importer of Latin jewellery,
a producer of recycled candles,
an aikido teacher and is now an
urban farmer, there’s no such
word as "impossible" in life.
Text: Maroussia Klep
Pictures: Maroussia Klep/Cycle Farm/R.R.
and David jumps on his bike to cycle
to work. Today, he will harvest three gardens
in Uccle and Linkebeek. None of them are his
property; they are provided for use by neigh-
bours. This way, David can extend his crops
of vegetables while landowners get fresh produce
on a weekly basis. "I love spin farming (Small Plot
Intensive Farming) because it’s an efficient
Carrying on with his work, David points out the varie-
ties of plants around us. He differentiates between
"quick crops" such as salad rocket and radish ready to
pick in 45 days and "steady crops", such as tomatoes
and courgettes, which take longer to grow but can
be harvested three times or more. Both are carefully
an importer of Latin jewellery,an importer of Latin jewellery,
a producer of recycled candles,a producer of recycled candles,
an aikido teacher and is now an
urban farmer, there’s no such
A farmer with several
strings to his bow
In 2014, David Errera signed
up for a one-year training
course in permaculture…
"After which I co-founded
the Cycle Farm association
to develop spin farming in
Brussels."

32. www.solvay.edu
When I read Fukuoka’s book on natural farming
("The One-Straw Revolution: An Introduction to
Natural Farming"), it was a revelation. I signed up
for a one-year training course in permaculture after
which I co-founded the "Cycle Farm" association to
develop spin farming in Brussels."
From handicrafts to businesses
David has always had an innate sense of entrepre-
neurship, developing his first project right after his
economic science degree (1991) during a trip to
Central America. Impressed by local handicrafts, he
started collecting hand-made jewellery and resel-
ling it in Europe. The model worked well and David
co-founded an import/export organisation that he
ran for five years.
In 1999, the introduction of the euro gave David his
new business idea. Inspired by a Canadian model,
he obtained a licence to develop coin containers in
Benelux. His company Thecontainer soon became
the preferred provider of a vast network of banks
32Off the Beaten Track
What is permaculture? The key idea behind perma-
culture is to work with nature rather than against it and
to consider plants and animals as a sustainable eco-
system so as to maximise connections between these
elements.
What are the expected benefits? Working in
harmony with nature makes it possible to nurture the
soil better and increase production all round.
How does David apply it in his work? First of all,
by minimising the waste of resources and using every
square metre of soil as productively as possible. For
example, he uses the area available under kale stalks
to plant spinach as it grows closer to the ground
and provides a nutrient-rich fertiliser. He also
reutilises old pieces of wood as compost.
THE SECRET of permaculture
and shops. At the same time, he started
helping a friend based in Thailand to
re-sell handmade organic candles in
Europe, taking a plunge into a new sector
with a fair-trade method of recycling
used cooking oil into decorative wax. His
new enterprise – Oil2wax – was born.
So how is one man able to manage so
many projects with the same level of
energy? His answer is straightforward:
"Aikido allows me to find life balance
amidst my work. When I practise aikido,
I focus on achieving harmony in my
gestures and with my partner, which
eases my stress and balances the
euphoria of the day." David discovered
the martial art 24 years ago and has
never stopped practising.
1991
Master Economic
Sciences, SBS-EM
1991
Founder and owner,
NHE sprl. Import-export
activity in Latin America
Since 1992
Practicing aikido
(teacher since 2005)
2001-2002
IADE (Initiation
au Développement
d'Entreprises), SBS-EM
2010
NHE sprl became
Thecointainer sprl.
2012
Co-founder and owner,
Oil2Wax
2014
Permaculture diploma,
Tetra
2015
Permaculture farming
diploma, Ferme du Bec
Hellouin ("Maraîchage
Permaculturel")
2015
Co-founder, The
Cycle Farm
Timeline
NHE sprl. Import-export
activity in Latin America
d'Entreprises), SBS-EM
Co-founder and owner,

33. 33Off the Beaten Track
Cycle Farm and food sustainability
Since the start of Cycle Farm in September 2015,
David and his associate Nicolas Vlaminck have gone
on to build a solid reputation in Uccle and Linkebeek.
"People come back every week to the market to get
our products. The restaurants we collaborate with
also value getting locally grown vegetables."
But there is room for expansion. According to
David, a vast majority of public and private gardens
in Brussels remain under-utilised. "Planting grass
instead of producing food is a waste of resources,"
he explains. "The recent economic crisis and the
increasing reliance on oil prices and on the interna-
tional crop market make it a priority to find alterna-
tives based on local food production." Concerned
about food sustainability, Cycle Farm is now
conducting a study to assess the opportunities for
intensive farming in Brussels (see box).
Bright side of life
"The agricultural sector in Europe is
under pressure, that’s no secret," David
reckons. "But if every individual were
to be respectful of himself and of his
local environment, the general trajec-
tory might well change for good". In
line with the aikido philosophy, David
prefers to be proactive rather than
focusing on the hard knocks in life
"Look at me, working outside, in the
sun, feeling in better shape than ever
and producing my own food. Isn’t life
just beautiful?!"
PLANTING GRASS INSTEAD
OF PRODUCING FOOD IS A WASTE
OF RESOURCES
If you’d like to suggest an alumnus or alumna
or present your project in this section, write to
us at sbs-em@elixis.be.
+32-476-32.89.55
info@cyclefarm.be
www.cyclefarm.be
www.facebook.com/
groups/cyclefarm
Three-year study commissioned by Innoviris and led by Cycle
Farm in collaboration with the ULB and Credal to explore the eco-
nomic and environmental opportunities of SPIN Farming (Small Plot
Intensive Farming) in Brussels.
SPIN Farming was first developed in Canada as an urban micro-
agricultural farming model relying on an ultra-local distribution
network to foster local food production.
The project arose from the observation that small plots of less than
50 square metres (mainly private gardens) offer a total of more than
1000 hectares in Brussels. The study will assess whether these areas
could form an interconnected agricultural network that would be
financially and ecologically sustainable, in line with the strategy of
the IBGE (Brussels Institute for Environment
Management) to increase food sustainabi-
lity in Brussels by 2020.
THE SPIN FARMING study
"The agricultural sector in Europe is
Management) to increase food sustainabi-

34. www.solvay.edu
What were your motivations to start
volunteering?
After 35 years in the banking sector, I decided to
give my life a new direction. I had been promising
myself for a long time that one day I would work
in volunteering to actively support those in greater
need. So, when I turned 59, I finally did it. Over
recent years, I have been involved in both Médecins
du Monde and the Ligue des Droits de l’Homme
but now I am focusing on Solidarité-Logement /
Solidariteit-Huisvesting.
Why has housing become your top priority?
Housing is a sensitive issue. It is a right that almost
comes before any other, since it conditions our
access to other forms of rights. Officially, it is well
recognised, but there is a huge gap between what is
theoretically guaranteed and what actually happens
on the ground. Politically, social housing is not a
popular topic and public authorities easily tend to
dismiss investing in it. In Belgium, social housing
accounts for only 7% of total housing – half that in
France or the Netherlands. In Brussels in particular,
there are more than 40,000 unfulfilled applications
and it takes an average of 10 years to be granted
housing.
How does Solidarité-Logement help fill this
gap?
When we started the initiative, our efforts were
mainly dedicated to fundraising while maximizing
the leverage effect. The money we collect is mainly
used to support associations directly in contact
with the people who most need our help. Along
with our transparency policy [Solidarité-Logement
is VEF-AERF certified], we make sure
not to deal with individuals but with
professional associations, to ensure
fair and equal treatment. Yet, the more
professional Solidarité-Logement
becomes, the more we look forward
to funding and developing our own
projects. So far, eleven different pro-
jects have been funded or initiated by
Solidarité-Logement. We also try to
find sustainable solutions to housing
issues. With that in mind, we also train
people to be independent.
In Belgium, who are the people
most affected by the lack of social
housing?
We quickly realised that young people,
especially young women, are par-
ticularly vulnerable to the housing
shortage. Though they often face dif-
ficulties entering the labour market,
they are not eligible for social housing
as seniority of application is a determi-
ning factor. This is particularly true of
youngsters who grew up in children’s
homes and who have nowhere to go
when they turn 18.
Initiatives34
Since 2013, Marc Bellis (EMM-CEPAC 1977) has been
managing director of Solidarité-Logement, an
independent non-profit making organization that he
co-founded in 2009 to provide decent housing across
Belgium to those who could not otherwise afford it.
The organization’s motto? Together, give hope a chance.
How can people
SHOW THEIR
SUPPORT?
By joining the asso-
ciation as a volunteer
and helping in its
success by bringing
in their own skills and
knowledge.
By making financial
donations to the asso-
ciation (with possible
tax relief, from 40€/
year; BE28 0882
4636 3120).
www.solidarite-logement.be
Marc Bellis:
+32-471-90.35.56
Text: Clément Jadot
Pictures: Solidarité-
Logement/R.R.
MARC BELLIS
Housing: giving
hope a chance
Since 2013,
managing director of Solidarité-Logement, anmanaging director of Solidarité-Logement, an
hope a chance