HEC Montréal Receives Historic $20M Gift for Entrepreneurs & Mental Health

MONTRÉAL, QC – April 28, 2026 – HEC Montréal announced today it has received a historic $20 million donation from the Lise and Giuseppe Racanelli Foundation, the largest single gift from an individual or family in the institution's history. The transformative contribution from alumnus and entrepreneur Giuseppe Racanelli (HEC Montréal 1968) and his family is set to profoundly reshape the school's support for entrepreneurship, innovative research, and student mental health.

In a gesture of recognition for the unprecedented donation, the university's Côte-Sainte-Catherine building, which celebrates its 30th anniversary this year, will be renamed the Lise-et-Giuseppe-Racanelli Building, cementing the family's legacy into the physical and academic heart of the campus.

"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," said 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."

An Entrepreneur's Enduring Mission

For Giuseppe Racanelli, the donation represents a continuation of a lifelong mission. An Italian immigrant who arrived in Montréal at a young age, he credits his 1968 degree from HEC Montréal as a foundational element of his success. He went on to found and lead three influential companies—Spiro Metal Tube inc., Industries Racan inc., and Ingénia Technologies inc.—which became key players in the design and manufacturing of custom air-handling units.

Racanelli's business philosophy was built on innovation and a deep appreciation for people, recognizing that the diversity of his workforce was his greatest asset. Now, he is applying that same forward-thinking approach to philanthropy.

"Although my life as an entrepreneur has come to an end, my mission has not," stated Mr. 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."

This sentiment is echoed by his daughter, Véronique Racanelli, President of the Lise and Giuseppe Racanelli Foundation. "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," she said. "Combining ambition and compassion is essential to building a stronger and more humane society."

A Holistic Investment in Student Success

The $20 million gift is strategically structured around three pillars designed to foster a holistic environment for success. A significant portion will boost initiatives for aspiring entrepreneurs through the Pôle entRepreneuriat HEC Montréal, funding programs related to business creation, acceleration, and succession planning.

Secondly, the donation will support the priorities of the school's research and knowledge-transfer ecosystem. This includes entities like the Pôle D (Top Executives and Strategic Management Hub), the Pôle santé (Health Research Centre), and the IDEOS social impact hub, strengthening innovation in fields from sustainable digital technologies to healthcare management.

The third pillar addresses one of the most pressing issues on university campuses today: mental health. The funding is earmarked to significantly strengthen HEC Montréal's initiatives promoting the well-being of its students and entrepreneurs. This investment comes at a critical time for Canadian higher education. National studies have revealed a growing mental health crisis among students, with a 2019 survey showing that 69% of post-secondary students experienced overwhelming anxiety and 75% reported struggling with their mental health. Barriers such as long wait times and stigma often prevent students from seeking help.

The Racanelli donation will enhance the accessibility of existing services, such as the free psychological consultations offered to students, and improve the overall student living environment, directly contributing to academic success and personal resilience.

Inspiring a New Wave of Philanthropy

Beyond its immediate impact, the Racanelli family's gift includes an innovative mechanism designed to cultivate a lasting culture of giving at HEC Montréal. A portion of the donation will be used to launch a planned giving campaign, creating a powerful incentive for other philanthropists to contribute.

Under the initiative, for every planned gift—such as a bequest in a will or a gift of life insurance—confirmed with the HEC Montréal Foundation by the end of 2027, a financial contribution from the Racanelli donation will be unlocked to provide immediate support to students, primarily through scholarships. This unique model effectively allows future commitments to have a present-day impact, bridging the gap between long-term estate planning and urgent student needs.

This forward-looking strategy aims to multiply the impact of the original donation, encouraging a new generation of donors to consider their own legacies. It builds on the HEC Montréal Foundation's established efforts to promote planned giving through its expert committee and its Société Héritage recognition program.

Michel Patry, President and CEO of the HEC Montréal Foundation, celebrated the gift's dual impact. "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."