The Benevolent Foundation of The East Asiatic Company Limited (EAC Foundation) was established on 9th June 1988, by the Company and its Managing Directors Henning H. Sparsø, John Arthur Hansen, and Flemming Hasle.
The Foundation’s charter included a Deed of Gift issued by the Company, whereby EAC committed to make annual contributions to the Foundation equal to 2% of its annual profits. The initial capital injection was DKK 2,363,000.
The terms of the Deed of Gift were subsequently amended and in April 2006, the Company had fulfilled its financial obligations under the amended deed and served notice of termination. Thus, except for income from investments, the Foundation would thereafter not receive any further capital injections. The Foundation capital in 2006 had reached DKK 150 million.
Asia House is owned by the Foundation. Asia House was built in 1897 by The East Asiatic Company and served as the Company’s first head office in Denmark from 1898 – 1907. Asia House was given to the Foundation in 2006 as a gift from The East Asiatic Company. The Foundation is today domiciled in Asia House.
East Asiatic House
East Asiatic House, adjacent to Asia House, served as head office of The East Asiatic Company from 2006 until the Company’s name was changed to Santa Fe Group, and its head office moved to London, UK. The Foundation acquired the office building in 2017 and in collaboration with municipal and other private parties, the Foundation established Innovation House China-Denmark, a business start-up facility, making it easier for entrepreneurs and companies to do business in each other’s country.
MISSION of the EAC FOUNDATION
The mission of the foundation is to support initiatives, activities and projects which contribute to maintain, strengthen and develop commercial and cultural relations between Denmark and the Asian countries, where the past commercial engagement of The East Asiatic Company has been prevalent. This is done through direct financial support and activities in Asia House.
EAC Foundation may provide funding for project investigations that aim to create a platform for Danish companies seeking entry to the Asian market. These projects must serve the interest of several stakeholders, and be potentially scalable.
In addition, the Foundation will support initiatives, activities and projects which relate to the history of The East Asiatic Company, thereby preserving the EAC heritage and dissemination of information on its past world-wide commercial and cultural-historical work and engagement.
The Foundation does not give grants to individual students or internships. General humanitarian projects are not covered, unless they aim to strengthen and expand commercial and cultural relations between Denmark and Asia.
We encourage applicants to contact the Foundation’s administration in Asia House to discuss potential applications in order to avoid sending applications that fall outside the mission and scope of the Foundation. The administration can be contacted via email: email@example.com.