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1 Entrepreneurs from Latin America come to Columbia Business School to start 3 rd edition of ECLA program Module I: January 6 17, 2014 The third generation of ECLA entrepreneurs started program with 2 weeks of training in all business areas, with an emphasis in process improvement. core Module I took place from January 6 17, 2014 where 37 students representing 17 companies from Argentina, Chile, Colombia, México, Paraguay, Uruguay and United States got toger to learn about business and foundations for process improvement project y will work for following 7 months. During se 2 weeks of classes, CBS faculty delivered classes on Business Analytics, Capital Budgeting, Data Analysis, Financial and Managerial Accounting, Marketing, Operations Management and Strategy, Problem Definition, Supply Chain and Strategy among ors. Students had also opportunity to listen to industry leaders like Daniellee DiFerdinando Founder and CEO Danielle Nicole who talked about launching and building a global brand; Sonia Dula Vice Chairman, Latin America, Bank of America Merrill Lynch who spoke about leadership and management; Fernando Fabre President, Endeavor Global spoke about high impact entrepreneurshipp and Jim Keyes Former Chief Executive Officer of Seven Eleven, former CEO and Chairman of Blockbuster Inc. who spoke about path of a corporate entrepreneur. Aside from lectures and guest speaker sessions, program included or activities for entrepreneurs to enjoy and experience New York and Columbia University. A welcome reception was hosted at Faculty House where entrepreneurs were able to meet faculty. At this reception, Michael Malone, Associate Dean welcomed entrepreneurs to campus and among guests were Carri Chan, Nancy Degnan, Fabrizio Ferri, Nelson Fraiman, Peter Kolesar, Medini Singh, Gabriel Weintraub, and José Zubizarreta. A happy hour was organized in conjunction with executive MBA program to give everyone opportunity to network and meet. On Tuesday January 14 th, group of entrepreneu urs and some faculty (Omar Besbes, Garrettt van Ryzin, and Nelson Fraiman) and guest speaker (Fernando Fabre) went to Dinosaur BBQ to experience a typical New York place. On Thursday January 16 th, we took entrepreneurs to see After Midnight, a new Broadway show about Harlem and Jazz in 20s era. After 2 weeks full of classes, talks, activities, assignments and networking, entrepreneurs went back home with a problem statement for ir process improvement projects. A faculty advisor was assigned to each firm to help m on

2 project. The teams will work an average of 5 hours per week and meet with ir advisorss via conference calls for 2 hours per month, in order to find a solution to ir problem and generate positive impact to ir firms. The group is due to come back on campus late August for Module IV where each team will present project and progresss made. We are very pleased to say module I of program was very well received and scored a 4.63 out of 5 overall evaluation. During se two weeks, we had pleasure of re signinof sponsorship with ECLA program. Román Blanco, Head of Santander Bank in US, Eduardo Garrido, Head of Santander Universities, Glenn Hubbard, Dean of Columbia Business School, John Coatsworth, Provost of Columbia University and Nelson Fraiman, Faculty Director of ECLA a new gift agreement with Santander Universities for 3 more years program got toger for a signing ceremony followed by cake and champagne with entrepreneurs on Monday January 13 th. During se two weeks we had excellent support from Angela Quintero and Meritxell Roca from Deming Center and Maggie Hopkins from Chazen Institute. Photo highlights

3 ECLA 15 class Entrepreneurs at classes with CBS faculty Guest Speaker: Sonia Dula Guest Speaker: Danielle DiFerdinando Signature of new gift agreement with Santander Universities

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