Grupo Argos Foundation and EIA, EAFIT y CES universities launch Generación A, a legacy for education in Colombia

• Generación A is an educational fund under the endowment model, a mechanism where a donated capital generates annual returns to provide perpetual educational scholarships, with a defined number of slots agreed upon with participating universities.
• The goal of Generación A is to build a fund of COP 100 billion, with the collaboration of companies sharing the same purpose of strengthening education, to ensure its impact in perpetuity. The fund begins with an initial donation of COP 20 billion from the Fundación Grupo Argos.
• This program complements the efforts of Grupo Empresarial Argos over the past 10 years, benefiting more than 300 young people across Colombia through higher education scholarships, with investments exceeding COP 10 billion.
• On October 18, the application process began for young people nearing high school graduation in Antioquia to apply for these scholarships. Interested individuals can submit their information at: becas.fungrupoargos.com.

As part of the celebration of Grupo Argos’ 90th anniversary and with the goal of leaving a legacy for education in Colombia, the launch of Generación A was held last Friday, October 18. This higher education scholarship initiative aims to connect high school graduates in Antioquia with higher education programs at three of the country’s top-performing universities: EIA, EAFIT, and CES.

To ensure long-term sustainability, Grupo Argos and the universities established a fund under the endowment model. This mechanism, widely used in Colombia and around the world, leverages an initial capital contribution invested to generate annual returns, enabling the perpetual financing of a set number of scholarships.

“We aspire to build a fund of COP 100 billion through contributions from the Fundación Grupo Argos, national and international partners, and the combined capabilities of the EIA, EAFIT, and CES universities to create the most significant sustainable platform for educational support. We want this to be one of the legacies in the commemoration of Grupo Argos’ 90 years of history, offering our country a program aligned with the organization’s vision and connecting young people with educational opportunities at three of the best universities in Colombia.”

Jorge Mario Velásquez
President of Grupo Argos

In its initial phase, Generación A will have an investment of COP 40 billion, consisting of COP 20 billion contributed by Grupo Argos Foundation and an additional COP 20 billion provided by the three private universities through capacity and talent under the sillas vacías model. This model allows the universities to cover a partial or full percentage of students’ tuition, ensuring resources for future students while keeping the fund’s principal intact to guarantee its perpetuity. In the short term, the goal is to secure capital contributions of COP 100 billion to expand the educational benefits of the fund.

“The collaboration between businesses and universities for education is a virtuous circle that has been strengthened in Antioquia and throughout Colombia, and one that we should be immensely proud of. That is why Generación A—A for Argos, A for Antioquia, A for Access, and A for Outstanding Achievement—is what we are confident this program will inspire.”

José Manuel Restrepo
Rector Universidad EIA

The application process is open from Friday, October 18, until the second week of December 2024. Interested individuals can access all the information and apply through the website: https://becas.fungrupoargos.com.

“Six out of ten young people in Colombia cannot access higher education, primarily due to a lack of financial resources. We believe it is possible to transform these realities. With this vision and a firm conviction in the power of collaborative efforts for this shared purpose, Generación A was born—a program where private universities and Grupo Empresarial Argos have created a replicable model for all regions of Colombia. This initiative complements the decisive actions we are undertaking at EAFIT to ensure that more talented young people can access higher education.”

Claudia Restrepo
Rector Universidad EAFIT

“Generación A is much more than a scholarship fund: it is a bridge to opportunities, a tool to close gaps, and a determined commitment to human and academic development. For Universidad CES, this initiative reflects our dedication to generating significant social impact, aligned with our mission to contribute to the well-being and progress of communities through partnerships with businesses and universities. At CES, alongside EAFIT, EIA, and Grupo Argos, we reaffirm our belief that education is the driving force behind social transformation and collective progress.”

Claudia Helena Arenas Pajón
Rector Universidad CES

Selection Criteria for Students

• Target Population: Students from socioeconomic levels 1, 2, and 3 as defined by Sisbén.
• Eligibility: Graduates from public or private schools with high academic performance.
• Minimum Score: Achieve at least 300 points in the Pruebas Saber 11 national exam.
• Academic Maintenance: Maintain a minimum GPA of 3.7 during the course of their studies.
• Additional Support: Scholarships include financial support for student living expenses tailored to individual cases, along with comprehensive support through a model of individual mentorships.

In the coming weeks, all Generación A partners will conduct an investment round to increase the fund’s capacity, enabling more students to benefit from the program.

A decade of supporting education in Colombia

In the first semester of this year, Grupo Argos Foundation celebrated the 10th anniversary of its scholarship program, which has benefited more than 300 young people from socioeconomic levels 1 and 2 across 15 departments in Colombia. Over this decade, the foundation has invested more than COP 10 billion, connecting scholarship recipients with academic training and formal employment opportunities.