The Prince Albert Fund is a

Belgian Belgian may refer to: * Something of, or related to, Belgium * Belgians, people from Belgium or of Belgian descent * Languages of Belgium, languages spoken in Belgium, such as Dutch, French, and German *Ancient Belgian language, an extinct languag ...

non-profit organization (fund) which provides a scholarship to young

professionals to give them the opportunity to carry out a project for a Belgian company in

international business development International business development evolves through the normal processes of trade, foreign direct investment, capital flows, migration, and the advancement of technology in undeveloped nations. In order to achieve sustainable global business develop ...

, outside

Europe Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a Continent#Subcontinents, subcontinent of Eurasia ...

. The fund is managed by the

King Baudouin Foundation The King Baudouin Foundation (KBF) ( nl, Koning Boudewijnstichting, KBS; french: Fondation Roi-Baudouin) is an independent, pluralistic foundation based in Brussels (Belgium). It seeks to change society for the better and invests in inspiring proj ...

and directed by a steering committee consisting of alumni of the Fund and representatives of FEB-VBO,

VOKA The Vlaams Economisch Verbond (VEV) is a Flemish employers' organization and lobbying group. The main objectives of the organization were the development of the Flemish economy and to improve the status of Flemish as a business language in Flan ...

UWE Uwe or UWE may refer to * Uwe (given name) * University of the West of England, Bristol * UML-based web engineering * University Würzburg's Experimental miniaturized satellites for space research UWE-1 and UWE-2 * Uwe - Wreck in Blankenese Blank ...

and BECI.

The scholarship

Each year, about 20 to 30 young people are selected out of hundreds of applications through a rigorous selection process in different rounds. The requirements that the Fund sets for candidates are very high; several diplomas (at least a

cum laude Latin honors are a system of Latin phrases used in some colleges and universities to indicate the level of distinction with which an academic degree has been earned. The system is primarily used in the United States. It is also used in some Sou ...

Master's degree A master's degree (from Latin ) is an academic degree awarded by universities or colleges upon completion of a course of study demonstrating mastery or a high-order overview of a specific field of study or area of professional practice.

) or work placements abroad are recommended, while the candidate must be able to speak two or three languages fluently. Candidates must be under 30 years at the time of the application and have Belgian nationality. Since candidates also need to have at least 3 years of working experience the program is not a

traineeship A trainee is commonly known as an individual taking part in a trainee program within an organization after having graduated from Higher education, higher and Vocational education, technical courses. A trainee is an official employee of the firm th ...

and can be seen as an alternative for an

MBA A Master of Business Administration (MBA; also Master's in Business Administration) is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as accounti ...

. During the application process attention is also paid to character, motivation, general knowledge, and knowledge of Belgian foreign trade. The candidates are chosen by a selection committee made up of

alumni Alumni (singular: alumnus (masculine) or alumna (feminine)) are former students of a school, college, or university who have either attended or graduated in some fashion from the institution. The feminine plural alumnae is sometimes used for grou ...

of the fund and experts in

international trade International trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services. (see: World economy) In most countries, such trade represents a significant ...

and

human resources Human resources (HR) is the set of people who make up the workforce of an organization, business sector, industry, or economy. A narrower concept is human capital, the knowledge and skills which the individuals command. Similar terms include m ...

. The Prince Albert Fund offers a 12-month scholarship. The grant includes one month of preparation in Belgium and 11 months of work experience abroad (outside Western Europe). Before their departure, the fellows take part in an intercultural training program developed especially for the Fund. The Prince Albert Fund has a total of 464 alumni. Some 200 Belgian companies (ranging from small start-ups to well-established businesses) have enabled these young people to experience part of their commercial development abroad. Some realised projects are; the establishment of a distribution center in

India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...

for Greenyard, the set-up of a direct distribution channel in

China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...

for Unilin (

Mohawk Industries Mohawk Industries is an American flooring manufacturer based in Calhoun, Georgia, United States. Mohawk produces floor covering products for residential and commercial applications in North America and residential applications in Europe. The comp ...

), the management of an excellence project for UCB in the

APAC Apac is a town in Apac District in the Northern Region of Uganda. It is the 'chief town' of the district and the district headquarters are located there. The district is named after the town. Location Apac is located approximately , by road ...

region, M&A support for

Ageas Ageas is a Belgian multinational insurance company co-headquartered in Brussels. Ageas is Belgium's largest insurer and operates in 14 countries worldwide. The company was renamed from Fortis Holding in April 2010 and consists of those insurance ...

Hong-Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China (abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delta i ...

, market research for AGC Glass in West-Africa, start-up of an overseas office for Unifly in

New York New York most commonly refers to: * New York City, the most populous city in the United States, located in the state of New York * New York (state), a state in the northeastern United States New York may also refer to: Film and television * '' ...

, the development of reporting standards for Korys investment company in

Brazil Brazil ( pt, Brasil; ), officially the Federative Republic of Brazil (Portuguese: ), is the largest country in both South America and Latin America. At and with over 217 million people, Brazil is the world's fifth-largest country by area ...

,... At the end of the project, the fellow has to report on his project to the selection committee of the Fund. If the selection committee gives a positive opinion, the management committee will award him/her the title of 'Laureate of the Fund' during an academic session in the presence of a member of the

Belgian Royal Family Belgium is a constitutional, hereditary, and popular monarchy. The monarch is titled king or queen of the Belgians ( nl, Koning(in) der Belgen, french: Roi / Reine des Belges}, german: König(in) der Belgier) and serves as the country's ...

at the

BELvue Museum The BELvue Museum (french: Musée BELvue, nl, BELvue Museum) is a museum in central Brussels, Belgium, that focuses on the history of Belgium. It is managed by the King Baudouin Foundation (KBF). The museum is located in the Hôtel Bellevue, ...

. The best project is awarded the ''

McKinsey McKinsey & Company is a global management consulting firm founded in 1926 by University of Chicago professor James O. McKinsey, that offers professional services to corporations, governments, and other organizations. McKinsey is the oldest and ...

award for excellence''.

History

The Fund was created in 1984 by the

Federation of Belgian Enterprises The Federation of Enterprises in Belgium ( nl, Verbond van Belgische Ondernemingen, VBO, french: Fédération des Entreprises de Belgique, FEB) is the only Belgian non-profit organization representing companies in all three regions of Belgium. Its ...

and by the

on the occasion of the 50th birthday of His Royal Highness Prince Albert of Belgium, later to become the sixth King of the Belgians. The Fund's aim was to embody the vision of a group of captains of industries to promote Belgian business abroad. Since its creation, the Prince Albert Fund has enabled over 400 young Belgian professionals to develop skills and gain experience in international business and helped over 250 Belgian companies promote their products and services outside Europe. In 2014 Chris Burggraeve (marketeer and professor at the TRIUM EMBA) was nominated President of the Management Committee of the Fund, succeeding

captain of industry In the 19th century, a captain of industry was a business leader whose means of amassing a personal fortune contributed positively to the country in some way. This may have been through increased productivity, expansion of markets, providing more ...

Julien De Wilde Julien, Baron De Wilde (b. Wetteren, 7 January 1944) is a Belgian businessman. He is Chairman of Nyrstar, Chairman of the Prince Albert Fund Foundation, honorary chairman of Agoria and a member of the board of Bekaert, Telenet and Agfa-Gevaert. H ...

. The current president is Emmanuel Caeymaex, VP Immunology UCB & alumni himself. On 2 April 2015, the Prince Albert Fund celebrated its 30th anniversary. At this occasion, King Albert handed over the reins of the fund to his daughter

Princess Astrid of Belgium Princess Astrid of Belgium, Archduchess of Austria-Este (born 5 June 1962), is the second child and first daughter of King Albert II and Queen Paola, and the younger sister to the current Belgian monarch, King Philippe. She is married to Pri ...

References

External links

*{{official, http://www.princealbertfund.be
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Foundations based in Belgium 1984 establishments in Belgium Organisations based in Belgium Economy of Belgium

The scholarship

History

See also

References

External links