A few days after the death of Marco Biagi, assassinated by the Red Brigades on the evening of 19 March 2002, the Biagi family, together with representatives of the University of Modena and Reggio Emilia, where he taught labour law, and his students, decided to set up a University Foundation to honour his memory and to carry on his reform spirit.
The Marco Biagi Foundation was established in December 2002, according to Act No. 388, 23 December 2000 and the Implementing Regulation of Presidential Decree No. 254 of 24 May 2001, becoming operative in 2003.
The first premises of the Foundation were inaugurated at the Marco Biagi Faculty of Economics of the University of Modena and Reggio Emilia on 10 March 2003 by the President of the Republic, Carlo Azeglio Ciampi. In January 2006, following a complex renovation project by the architect Tiziano Lugli, the Foundation moved its premises, formerly the XXVI Settembre building, granted in perpetuity by the State Property Agency to the University of Modena and Reggio Emilia to be used by the Marco Biagi Foundation.
Under its Statute, the Marco Biagi Foundation is an instrumental body of the University of Modena and Reggio Emilia, as a public engagement body bringing together universities, public bodies, and enterprises thus contributing to the promotion and consolidation of the economic and cultural development of the local area.
The Marco Biagi Foundation is one of the founding members of the National Conference of University Foundations (C.N.F.U.), a non-profit association to which a total of 12 Italian university foundations belong.