SEMBA 2003 Endowment Fund
The SEMBA Class of 2003 Endowment Fund was created by graduates united by a shared commitment to make an impact.
They established the Fund to invest in the next generation of purpose-driven leaders to drive meaningful change in our communities.
Since its establishment in 2008, the Fund has supported MBA candidates who have demonstrated exceptional leadership potential and a deep commitment to the not-for-profit sector. It champions those building organisations that create lasting social impact. More than two decades on from graduation, the SEMBA Class of 2003 continues to build an extraordinary legacy.
From 2026 to 2028 The SEMBA Class of 2003 Endowment Fund has pledged to support the following scholarships for MBAs and the MURRA Indigenous Business Program.
About the SEMBA Class of 2003 Endowment Fund
Established in 2008 to mark the fifth anniversary of the SEMBA Class of 2003’s graduation, the Endowment Fund embodies the cohort’s shared belief in the transformative power of education and socially responsible leadership. With an initial pledge of $500,000, they created the Fund to support MBS students with the potential to create meaningful social impact in underrepresented communities and the not-for-profit sector. Guided by the conviction that business and management skills powerful tools for social good, the Fund recognises education is essential to building long-term societal capability and equips future leaders to engage with the challenges facing less-resourced communities.
Today, the SEMBA Class of 2003 Endowment Fund Committee, led by alumni from the original cohort: Vicki Allen, Jan Begg, Paul McDonald and Frank Zipfinger, works in partnership with MBS to guide the Fund’s support of scholarships and social impact initiatives, ensuring the Fund continues to create opportunity where it matters most.
The SEMBA 2003 Endowment Fund Scholarships
| Scholarship Name | Value | Eligibility | Key Dates |
|---|---|---|---|
| Scholarship Name SEMBA Class of 2003 MURRA Scholarships | Value $50,000 (four scholarships of $12,500 each) | Eligibility Up to four First Nations people who receive an offer of admission to the MURRA Indigenous Business Program, with preference given to those from regional communities. | Key Dates Closing Date: Closed as of 8 April 2026 |
| Scholarship Name SEMBA Class of 2003 Not-for-Profit Scholarship | Value $50,000 |
Eligibility
For an individual currently working in the Not-for-profit sector who receives an offer of admission to an MBS MBA program. Class of 2003 Not-for-Profit Scholarship |
Key Dates
Applications close: 13 July 2026 Shortlist notified by: 24 July 2026 Interviews: Week beginning 3 August 2026 Candidate appointed by: 14 August 2026 |
| Scholarship Name SEMBA Class of 2003 Equity Scholarship | Value $50,000 |
Eligibility
For an individual from a community experiencing socioeconomic disadvantage in Australia or the ASEAN region, who receives an offer of admission to an MBS MBA program. SEMBA Class of 2003 Equity Scholarship |
Key Dates
Applications close: 13 July 2026 Shortlist notified by: 24 July 2026 Interviews: Week beginning 3 August 2026 Candidate appointed by: 14 August 2026 |
Impact to Date
The Fund has supported a range of impactful initiatives including launching the MURRA Indigenous Business Program, providing MBA scholarships for leaders in the not-for-profit sector and supporting the BioDesign Innovation Program.
Strengthening Indigenous Entrepreneurship and Leadership
As the founding funder of the MURRA Indigenous Business Program, the Endowment has helped strengthen leadership pathways and expanded opportunities for First Nations leaders nationwide.
In 2025, the 16th cohort graduated from the program, bringing the total alumni to 284 Indigenous professionals and entrepreneurs representing communities across every Australian state and territory.
Alumni now influence policy, lead new enterprises and contribute to a thriving Indigenous business ecosystem. Leaders such as Kieran Hynes have expanded digital access across remote Australia, just one example of how our alumni have been building businesses that create jobs, strengthen communities and accelerate Indigenous economic leadership nationwide.
Supporting Leaders in the Not‑for‑Profit Sector
SEMBA 2003 scholarships remove financial barriers for high‑potential not-for-profit leaders to study at Australia’s number one business school.
Bec Wilkin, a Case Management & Housing Manager at The Sexual Assault & Family Violence Centre, was given a scholarship to undertake the Executive MBA program in 2025. Bec has worked in community service for almost 20 years across sexual and family violence, child and family services, homelessness, and disability services.
Cinnamon Evans, CEO of CERES, received a SEMBA 2003 Scholarship and graduated from a Senior Executive MBA in 2024. Through her leadership at CERES, Cinnamon has applied strategic discipline to mission-led organisations, illustrating how our alumni have been elevating governance, driving sustainable revenue and leading with confidence in complex environments.
Their stories highlight how the program deepens strategic capability, strengthens financially sustainable leadership, and uplifts the communities they serve.
Driving Innovation in Healthcare
Ongoing support by the Fund for the BioDesign Innovation program has helped over 30 teams of MBA and Engineering students develop new medical technologies addressing real clinical needs.
Student teams have achieved national recognition for their innovative designs including entry into the highly competitive Medtech Actuator accelerator, major awards at the University of Melbourne’s Endeavour and successful pathways toward commercialisation.
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