The British Friends of HBS, a registered charity no. 100531, was set up in 1990 by the Harvard Business School Club of London to raise scholarship funds for British students to attend HBS as well as facilitate donations to HBS by alumni. The scholarships are awarded through the US-UK Fulbright Commission. HBS gives full class/reunion credit for all donations to the British Friends.

Since 1992 the British Friends have awarded 70 partial tuition scholarships totalling over $1.8m. Each scholarship is awarded to a student who demonstrates financial need and who has been accepted by Harvard Business School as well as having gone through the rigorous Fulbright selection process. Successful recipients must return to the UK at the end of their MBA and give an undertaking to contribute to the Scholarship Fund when the circumstances permit.