The Funds

Elisabeth Schuster Fund

Schuster Principles

1. Language courses in a country where German, Spanish or Portuguese are generally spoken

• The following documents should be attached to the application: A study plan for the language studies abroad including information about the course organizer, statement of reasons why the language studies are important and how they are connected with the student's studies at Hanken, an estimate of costs, CV, and a official transcript of records.
• As a rule, the following maximum amounts for language courses (including traveling expenses) should be stated in the application (students at the Vaasa campus will receive a 60 euro supplement if the cost estimate indicates it's relevant):
  
  
  • 3 weeks in Germany, Austria, German-speaking part of Switzerland, Spain or Portugal: max. 1400 euros
  • 4 weeks or longer in Germany, Austria, German-speaking part of Switzerland, Spain or Portugal: max. 1550 euros
  • 3 weeks in Central or South America: max. 2150 euros (if you apply for a scholarship for a course in Central or South America that is three weeks long, please state your reasons for choosing a course that is shorter than 4 weeks)
  • 4 weeks or longer in Central or South America: max. 2300 euro
• The grants are intended for BSc and MSc students at Hanken or alumni who graduated from Hanken within the past three years. Students must have completed at least 6 credit points of German or Spanish at Hanken (or a minimum of 6 credit points of transferred German or Spanish studies) or should actively participate in a German or Spanish course at Hanken during the ongoing term and complete 6 credits in that language before the course takes place. Applicants who intend to study in a country where Portuguese is spoken must have completed at least 6 credit points in Spanish at Hanken (or a minimum of 6 credit points of transferred Spanish studies) or should attach a certificate of studies in Portuguese.
• The same person can be granted a maximum of three scholarships from the Elisabeth Schuster's Fund for language courses/Summer Schools

2.Summer Schools in a country where German, Spanish or Portuguese are generally spoken

• Grants are awarded for Summer Schools within the field of economics and business in Schuster-countries, in first hand at Hanken's partner universities and in the second place other universities of good repute.
• The following documents should be attached to the application: A study plan for the studies abroad including information about the course organizer, statement of reasons why the studies are important and how they are connected with the student's studies at Hanken, an estimate of costs, CV, and a official transcript of records.
• The grants are intended for BSc and MSc students at Hanken. Students must have completed at least 6 credit points of German or Spanish at Hanken (or a minimum of 6 credit points of transferred German or Spanish studies) or should actively participate in a German or Spanish course at Hanken during the ongoing term and complete 6 credits in that language before the course takes place. Applicants who intend to study in a country where Portuguese is spoken must have completed at least 6 credit points in Spanish at Hanken (or a minimum of 6 credit points of transferred Spanish studies) or should attach a certificate of studies in Portuguese.
• As a rule, the following maximum amounts for language courses(including traveling expenses) should be stated in the application (students at the Vaasa campus will receive a 60 euro supplement if the cost estimate indicates it's relevant):
  • 2 weeks in Germany, Austria, German-speaking part of Switzerland, Spain or Portugal: max. 1250 euros
  • 3 weeks in Germany, Austria, German-speaking part of Switzerland, Spain or Portugal: max. 1400 euros
  • 4 weeks in Germany, Austria, German-speaking part of Switzerland, Spain or Portugal: max. 1550 euros
  • 2 weeks in Central or South America: max. 2000 euros
  • 3 weeks in Central or South America: max. 2150 euros
  • 4 weeks in Central or South America: max. 2300 euros
• The same person can be granted a maximum of three scholarships from the Elisabeth Schuster's Fund for language courses/Summer Schools

3. Other purposes than those listed under items 1 and 2 above

• Grants may be awarded from the fund, provided that they are tied to studies or research in German-speaking countries within disciplines represented at Hanken, or studies in German, Spanish or Portuguese in countries where the language in question is generally spoken. The purpose of a grant of this type should be to promote teaching and research within the respective field at Hanken. Grants of this type may also be awarded for participation in conferences, seminars, symposiums, etc.
• The grants are intended for BSc, MSc and doctoral students as well as academic staff at Hanken. Students must have completed at least 6 credit points German or Spanish at Hanken (or a minimum of 6 credit points of transferred German or Spanish studies) or should actively participate in a German or Spanish course at Hanken during the ongoing term. Applicants who intend to study in a country where Portuguese is spoken must have completed at least 6 credit points in Spanish at Hanken (or a minimum of 6 credit points of transferred Spanish studies) or should attach a certificate of studies in Portuguese.
• The reasons for the purpose must be carefully explained and a detailed estimate of costs and CV must be attached. BSc and MSc students must also attach a an official transcript of records.

Lars Krogius Jubilee Fund

The aim of this fund is to promote research and further training of teachers primarily in marketing. If the disposable income for some reason cannot be appropriately used within this field, it may be used for corresponding purposes within the fields of business economics within transport, primarily the business economics of merchant shipping and foreign trade.

Commerce and Industry Scholarship Fund

The funds are distributed as grants to students engaged in licentiate or doctoral studies at Hanken. For special reasons, research and travel grants may also be awarded to Hanken faculty.

Hanken Foundation Funds

• UNION BANK OF FINLAND FUND. Aim: To promote academic research at Hanken. The funds are distributed as one or two grants to promote economic research.
• HANKEN'S 70TH ANNIVERSARY FUND. Aim: To promote academic research at Hanken. The funds are distributed as grants that significantly promote research at Hanken.
• EDGAR GRÖNBLOM FUND for students engaged in studies for the degree of Master of Science, Licentiate or Doctor of Philosophy (Economics).
• OY STOCKMANN AB JUBILEE FUND for economic, primarily business economic research in the field of trade.
• HENRIK SCHYBERGSON MEMORY FUND for economic, primarily business economic research.
• RESEARCH FUND OF THE STUDENT UNION OF HANKEN for academic research at Hanken.
• FUND OF THE ASSOCIATION FOR BUSINESS ECONOMICS. Aim: To promote interest in business economic issues by awarding grants for publication purposes and to cover travel expenses for research purposes as well as conferences.

Applications can be made by Hanken academic staff for full-time research or by Hanken's doctoral students for full-time studies and/or to cover direct costs as well as research and conference trips.

During recent years, the dividend from the Edgar Grönblom Fund has been non-existent or very marginal. Due to this reason, grants have not been awarded to students on the MSc level. MSc students are adviced to apply for funding, for example, for their Master's theses from external funds.

The Initial Phase Scholarship for Doctoral Students

Also in terms of funding, the Hanken PhD Programme offers you excellent opportunities to concentrate on your doctoral research. As per Finnish law, the PhD programme itself is free of charge - there are no tuition fees. Furthermore, conditional on sufficiently good progress (evaluated twice per year), Hanken School of Economics offers its newly admitted doctoral students full-time grant funding for the first 18 months of studies (this applies to doctoral students that are admitted in the Spring 2013 or later).

The grant amount is 1630 euro/month (2013). The amount includes funding for the costs for a statutory pension insurance and an occupational accident insurance (approximately 15 percent of the grant amount).

The application for the scholarship is made in conjunction with the application to the doctoral programme and using the same form. Applicants are informed of the funding decision simultaneously with the admission decision.

Conditions for granting the scholarship:

• The application for the scholarship can be made only in conjunction with application for admission to the doctoral programme using the same form.

• Incomplete or late applications are not considered.

• Scholarships for full-time studies require a leave of absence from another position.

• The holder of a scholarship is to study full-time and make progress in his/her studies. The holder of a scholarship is to inform his/her degree supervisor if he/she interrupts his/her studies or no longer is studying full-time.

• A condition for payment of a scholarship for full-time studies is that the applicant has not received other funding for the same purpose for the same period. The holder of a scholarship is to inform his/her degree supervisor if he/she receives funding for full-time studies from another source.

• Scholarships for doctoral students require that the applicant is enrolled as a doctoral student at Hanken and registered as present.

Hanken retains the right to discontinue the payment if any one of the above requirements is not fulfilled.

Hanken Faculty Fund

Tenured faculty as well as and long-term teacher and researcher substitutes may apply for the funds. Grants may be awarded for the following purposes:

• Academic research
• Textbook preparation
• Professional and pedagogical training
• Study and research trips
• To help language teachers maintain contact with the relevant language area

Grants may also be awarded for the purchase of literature as well as for other study and research material.

The Commerce and Industry Fund

The Commerce and Industry Fund is administered separately from the other funds and the grants are primarilyintended for the departments.

The Fund's activities include three programs:

1. The Visitor Program
2. The Guest Lecturer Program
3. The Studia Generalia Series

The Visitor Program offers established researchers and experts from industry and trade the possibility of staying at Hanken for a longer period. The program may also support Hanken researchers' temporary visits to a foreign institution. The latter applies to tenured Hanken academic staff who are not employed by the foreign institution.

Applications for inviting teachers and researchers to Hanken can be made throughout the year without having to follow any specified deadlines. Provided the application is complete, a decision can usually be expected within one month. Retroactive applications are not funded.

Applications for Hanken researchers' temporary visits to foreign institutions can be submitted at the end of the year at a specially announced date, given that funds remain in the Fund for this purpose and that the conditions set for these applications are met. For more information on the conditions for funding of Hanken researchers' temporary visits to foreign institutions please see this document (in Swedish only): Principer för beviljande av medel från Näringslivets fond för högskolans anställdas forskningsvistelser utomlands.

The free form applications for funding within these programs should specifically state the following: name and position of visitor/ lecturer, the person's academic and other merits (CV), a detailed program for the visit, including courses taught (also number of teaching hours) and research programs the visitor participates in during the visit at the university. A detailed estimate of costs (travel and accommodation costs, fees and hourly compensation plus other possible costs) must be attached; please see additional information on how calculate the costs (in Swedish).

Applications to the Commerce and Industry Fund are submitted throughthe Foundations online application system , for both incoming guests and Hanken researchers' temporary visits at foreign institutions you choose "Invitation of Faculty" as the application purpose . If you have questions about applications to the Fund, please contact the Scholarship Liaison Officer at stipendieombud(at)hanken.fi.