NEWS | The SMF Annual Dinner is Back!

After a two-year hiatus because of the COVID pandemic, the Sainsbury Management Fellows Annual Dinner is back!

On 11 May 2022, 120 guests attended a lively Annual Dinner at One Whitehall in London. The diverse mix of guests included our Patron Lord Sainsbury of Turville, and the EIBF President, David Falzani MBE, as well as with many SMFs, representatives from the Royal Academy of Engineering, business leaders and enterprise professionals from the universities supported by an Engineers in Business competition prize fund. The guests were able to network in person after such a long time, which created a tremendous buzz.

Speaking at the event, Lord Sainsbury said: “The Annual Dinner is an opportunity to celebrate the success of the Sainsbury Management Fellows MBA scholarship scheme. When the scheme was set up 35 years ago, the purpose was to fund a small number of talented young engineers to go abroad to get MBAs. It was hoped that the business skills they gained would help them rise quickly to the top of major British corporations or to set up high-tech businesses.

“This was important because if you want the leaders of major companies to be innovative, they must be people who understand the technologies of their business and the needs of their customers. The results speak for themselves: Today there are 394 Sainsbury Management Fellows, including those now at business school. Some 180 Fellows have founded or co-founded one or more businesses, with a total value of over £4.8 billion and have created more than 20,000 jobs. And over 250 Fellows have helped further develop some of the UK’s largest corporations, enhancing economic wealth.

“Not only have Sainsbury Management Fellows contributed to the British economy through the businesses they have founded or run but 12% of Fellows are also involved in the provision of venture capital, investing in a professional or private capacity, totalling more than £500m. These investments help stimulate technological development and the much-needed acceleration of innovation in the UK economy.

“The past two years have given us all pause for thought on how we can transition to a way of life in which we repair and improve our relationship with the planet. Pandemic recovery provides us with a unique opportunity to reinvent our businesses to achieve maximum growth with sustainability. Customers and consumers want to be associated with companies that are making a positive difference.

“In addition to supporting innovation and sustainability in the economy, Sainsbury Management Fellows continue to promote engineering as an exciting, well paid and fulfilling career to young people. SMFs have continued their participation in programmes to encourage young people to become engineers and develop their skills to make a difference to society.”

To learn more about Engineers in Business Fellowship visit the EIBF website.