HEC Montréal receives a historic $20M donation from the Lise and Giuseppe Racanelli Foundation
A major philanthropic gesture to support entrepreneurship, innovative research, and mental health
MONTRÉAL, April 28, 2026 /CNW/ - HEC Montréal is honoured to announce a historic donation of $20 million from the Lise and Giuseppe Racanelli Foundation. This exceptional gesture reflects the deep commitment of this family and of entrepreneur and alumnus Giuseppe Racanelli (HEC Montréal 1968) to giving back to society and investing in higher education. It will notably support the next generation of entrepreneurs, the research and knowledge–transfer ecosystem, as well as initiatives promoting well–being and mental health within the student and entrepreneurial communities.
In recognition of this unprecedented contribution to the School, the Côte–Sainte–Catherine building is being renamed the Lise-et-Giuseppe-Racanelli Building.
Key Quotes
"Although my life as an entrepreneur has come to an end, my mission has not," says philanthropist Giuseppe Racanelli. "Throughout my career, I worked hard to build connections and to ensure that members of my organization were happy. Promoting well–being among the next generation is essential. With this donation, my family and I wish, among other things, to support mental–health initiatives as well as entrepreneurship as a whole."
"Our family firmly believes that supporting youth and higher education--particularly entrepreneurship and the mental health of communities--is an investment in the foundations of a better future," adds Véronique Racanelli, President of the Lise and Giuseppe Racanelli Foundation. "Combining ambition and compassion is essential to building a stronger and more humane society. We share these same values with HEC Montréal."
"This rare act of generosity will allow us to amplify our mission to train responsible leaders and support cutting–edge research that contributes to the sustainable transformation of organizations and society," says Federico Pasin, Director General of HEC Montréal. "We are all deeply grateful to the Lise and Giuseppe Racanelli Foundation, whose bold and caring vision resonates strongly with our values. This major donation also coincides with the 30th anniversary of our building on Côte–Sainte–Catherine Road, thereby inscribing the Racanelli family into the School's history."
"It is with immense gratitude that we salute the exceptional generosity of the Lise and Giuseppe Racanelli Foundation, whose historic donation reaffirms its place among the greatest philanthropic builders of HEC Montréal," states Michel Patry, President and CEO of the HEC Montréal Foundation. "A contribution of this magnitude gives wings to our institution, of course, but above all to a new generation of women and men entrepreneurs who, like Mr. Racanelli, will become the visionaries our society needs to meet the challenges of our era."
Support for entrepreneurship, innovative research, and well–being
This major donation is structured around three main pillars:
- Boosting initiatives for the next generation of entrepreneurs, particularly those involved in programs of the Pôle entRepreneuriat HEC Montréal, related to business creation, acceleration, and succession.
- Supporting the priorities of the School's research and knowledge–transfer ecosystem, whether in entrepreneurship, sustainable digital technologies, or other fields, through entities such as Pôle D (Top Executives and Strategic Management Hub), the Pôle santé (Health Research Centre), and the IDEOS social impact hub, to strengthen innovation and the impact of projects led by the teaching community.
- Supporting HEC Montréal's initiatives promoting the well–being of its students and of entrepreneurs in training. Mental–health support and accessibility--already present at the School--will be strengthened, and the student living environment improved, all with the goal of contributing to the academic success of all.
Stimulating philanthropy through planned giving
In addition to these pillars, the Lise and Giuseppe Racanelli Foundation, aims to encourage planned giving among philanthropists from all backgrounds. To this end, the HEC Montréal Foundation will launch a campaign in which, for every planned gift confirmed by the end of 2027, a financial contribution drawn from part of the Racanelli family's donation will provide immediate support to members of the HEC Montréal community, notably through the awarding of scholarships.
About the Lise and Giuseppe Racanelli Foundation
Guided by values of gratitude and social engagement, the Lise and Giuseppe Racanelli Foundation is dedicated to advancing human well–being and autonomy. It places mental health at the heart of its priorities, supporting innovative initiatives that combine clinical care, cutting–edge research, and stigma reduction. Through its strategic philanthropic support, it aspires to build a more resilient society in which every individual has the psychological tools and resources needed to take initiative and thrive fully.
About Giuseppe Racanelli
A graduate of HEC Montréal in 1968, Giuseppe Racanelli is a major philanthropist and accomplished entrepreneur. Born in Italy and arriving in Montréal at a young age, he had the opportunity to receive a high–quality education and carve out an enviable place in the business world. He founded and led three companies--Spiro Metal Tube inc., Industries Racan inc., and Ingénia Technologies inc.--specializing in the design and manufacturing of custom air–handling units. All three companies became key players in the sector.
He recognizes that the diversity of backgrounds and cultures within his workforce was his greatest asset in challenging inertia and developing unique technologies in his industry. Forward–thinking and passionate about finding customized solutions for his clients, he devoted his career to relentlessly perfecting automated processes, making his operations increasingly efficient, profitable, and high–performing.
Fact sheet: About Giuseppe Racanelli
About HEC Montréal
An internationally renowned French-language university, HEC Montréal is open to the world and firmly rooted in the Quebec community. Founded in 1907, it trains leaders in all areas of management, who contribute responsibly to the success of organizations and the sustainable transition of society. Its community includes more than 14,000 students from 154 countries, 305 faculty members and more than 120,000 graduates worldwide. The School offers more than 160 programs at all undergraduate and graduate levels, and welcomes more than 9,000 managers and executives every year.
About the HEC Montréal Foundation
The mission of the HEC Montréal Foundation is to support the School in training world-class graduates who will actively contribute to the social and economic development of Quebec, as well as to its international reach. To achieve this, it engages its community and encourages generosity in order to provide financial support to students and to develop stimulating, high-performing, and innovative academic programs and research initiatives.
SOURCE HEC Montréal
Media Contact: Émilie Novales, APR, Senior Media Relations Advisor, 438 520-3536, [email protected]
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