France’s AXA group announced that the Scientific Board of the AXA Research Fund has held a meeting, chaired by Ezra Suleiman, to approve the Fund’s scope of action as well as its financial support allocation processes.
AXA established the €100 million ($157 million) fund last October (See IJ web site – https://www.insurancejournal.com/news/international/2007/10/11/84178.htm). It is managed by a Scientific Board chaired by Suleiman, Professor in Political Sciences at Princeton University and member of the AXA Supervisory Board.
AXA said it “believes that part of its engagements as a good corporate citizen means that the private sector can and must help public funding to promote academic research.”
The Company also explained that it “will focus its actions on four main areas of research; all related to the understanding and the prevention of major risks to humans and the environment.” These are:
— Economics & Finance: risk assessment and measurement, modeling of behaviors when facing risks, systemic financial risks, and economics of medical research for example
— Sciences: climate change & associated risks and impacts, longevity, long-term care and rehabilitation, science and technology i.e. sociology of modern research
— Technologies: security of networks, quantum information & its impact on information systems for example
— Social Sciences: sociology of modern research & innovation, social reactions to innovation and to risks, market evolutions & consumers’ behavior, adaptability of organizations, etc.
AXA plans to distribute the money as follows:
1. Grants to institutions: a. Endowments or Chairs: Every year, one or two research institutions will be awarded an endowment which, when invested, will generate a regular stream of income. b. Financing of specific chairs: Every year two to four €250,000 [$393.8 million] chairs will be awarded to research institutions to work on specific topics for a period of 3 to 5 years.
2. Scholarships to researchers (upon proposal from their respective research institutions). a. Every year AXA will award 2 “AXA Innovation Awards” each with a €250,000 prize. b. The AXA Research Fund will grant 30 post-doctorate scholarships and 40 Ph.D. scholarships (of which 10 CIFRE-scholarships).
3. Financing research projects: Every year the Fund will allocate a total amount of €6 million [$9.45 million] dedicated to innovating research projects.
4. Promoting Research Literature: The AXA Research Fund will help increase the visibility of the work by researchers through the financing of the publishing of scientific literature, the set-up of efficient databases as well as supporting the organization of various conventions or conferences.
AXA said: “Researchers and institutions will have the opportunity to apply for support from the AXA Research Fund by visiting http://researchfund.axa.com where all selection processes and criteria are detailed.
Source: AXA Group – www.axa.com
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