In 1978, Babson College, established the world's first entrepreneurship "hall of fame," the Academy of Distinguished Entrepreneurs. Since its inception, the academy has recognized and honored entrepreneurs who have contributed significantly to the development of free enterprise throughout the world.

Entrepreneurs from around the world are inducted each year. Babson College considers for nomination world-class entrepreneurs from diverse industries who epitomize the success of entrepreneurship, and solicits nominations from the Babson community as well as from outside the institution. Criteria for induction are extremely difficult to achieve. An external review panel chaired by Steve Forbes, president and chief executive officer of Forbes Inc. and editor in chief of Forbes magazine, approves all nominees.

Inductees are chosen not only for outstanding business accomplishments in their fields, but also for their contributions to society. Collectively the 87 members of the academy have created millions of jobs and improved societies around the globe.

Many of the most successful and visible entrepreneurs in the world are members of the academy. They represent companies that are some of the most highly regarded in their industry and household icons in their culture. These members have capitalized on the need for change, accepted the associated risk and responsibility, and made an impact on the world. The energy and innovation embodied by these individuals will be realized and applauded for many generations to come.