To further strengthen the good relations and cooperation with Finland and the Finnish business sector, in the early 1970s Marcus Wallenberg donated 2 million Finnish marks for the establishment of a foundation. Companies related to the Wallenberg family such as Scania, Ericsson and SKF had grown their activities in Finland significantly and were important for the country's economic development.

With the foundation deed dated the 14th of December 1973, the Foundation was established under the name Bergsrådet Tekn. and Ekon. dr h.c. Marcus Wallenbergs Stiftelse för Företagsekonomisk Forskning - Vuorineuvos Tekn. and Kauppat. tri h.c. Marcus Wallenbergin Liiketaloudellinen Tutkimussäätiö. The purpose of the Foundation is to promote education and research in the field of business administration, primarily in Finland but also in international contexts.

Grants

Each year the foundation awards grants to high-quality scientific research . Importance is placed on the fact that the research area is within business administration or is otherwise central from a management perspective. The Foundation may also grant support for researchers' participation in international conferences and the organisation of international symposiums and international guest lecturers in Finland within the area of business administration.

Grant applications are announced in Hufvudstadsbladet and Helsingin Sanomat, and the application deadline is on 8th of February 2024. Decisions on awarded grants can typically be expected within the month of May. In 2024 the Foundation has awarded grants of approximately 730.000 euro. The grants awarded in 2024 can be found here:Grants

The Foundation has also continued to fund larger individual high-quality research projects. During the years 2018-2023, the foundation awarded grants to twelve research projects with 300.000 euro to each project. In 2023, the Foundation awarded two grants of 300.000 euro each spread over a three-year period to the following research projects:

• Denise Salin Hanken School of Economics "Socially responsible and economically sustainable people management: meta-analytic investigation, scale development and validation, and multi-level extension"
• Matti Mäntymäki University of Turku "Responsible AI Through Governance (RAITGO)"

The application period for research projects is 20.5. - 24.6.2024. Research projects