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NUS gives undergraduates option for startup seed funding as scholarship

NUS gives undergraduates option for startup seed funding as scholarship

A new full-term scholarship is from Dr. Stephen Riady, offered to undergraduates to boost innovation and entrepreneurship

National University of Singapore

National University of Singapore (NUS) just introduced a scholarship that will support their undergraduates who aspire to be entrepreneurs and develop entrepreneurial skills. The scholarship is a startup seed funding that’s made possible by a gift from Dr Stephen Riady.

The scholarship offers access to mentorship and guidance from NUS Enterprise as the entrepreneurial arm of NUS. To be granted with it, students need to demonstrate a keen interest in creating start-up companies, on top of academic excellence and outstanding leadership qualities.

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The recipient will be able to participate in the prestigious NUS Overseas Colleges Programme, during which they will study in partner universities and intern in start-ups in entrepreneurial hotspots overseas, allowing them to gain entrepreneurial and international exposure.

The new scholarship which will be called The Stephen Riady Young Entrepreneur Scholarship is open to freshmen from all disciplines and will cover the tuition fees and living allowances for four years of study at NUS. Upon graduation, scholarship recipients who are keen to start a new business venture can apply for seed funding of up to S$50,000.

“Entrepreneurs are drivers of innovation, and they will play an increasingly significant role in Singapore’s economic progress, especially in the digital age. This gift recognises the challenges and impact of the entrepreneurial spirit, and also underscores my commitment to enable young entrepreneurial talent to develop their fullest potential. It is my hope that this new scholarship could cultivate the next wave of entrepreneurs who can help Singapore to stay ahead amid challenging times,” said Dr Stephen Riady, Executive Chairman of OUE Limited and renowned philanthropist, the pioneer benefactor supporting this initiative.

With this scholarship, NUS expects as many as 50 start-ups that can play a major role in advancing Singapore’s economy and social development to be spawned by these scholars in 10 years time.

“The Stephen Riady Young Entrepreneur Scholarship encourages our bright students to think big and pursue their entrepreneurship ambitions, and it also resonates with our national efforts to grow the next generation of local champions,” said NUS President Tan Eng Chye.

So far, six freshmen has received the inaugural awards of the prestigious scholarship since the commencement of new academic year in August 2018. Kee Qian Ling, an NUS Faculty of Engineering undergraduate who designed Barcode Alarm– a phone application that helps users conquer the snooze button as it forces them to scan the barcode of household items such as toothpaste tubes or cereal boxes to turn off the alarm, is one of the passionate recipient of the award.

Qian Ling was also pitching the idea of Virtual Ready – a computer software program that trains healthcare workers to handle emergency situations through virtual reality simulations. It won the Best Social Impact award at the Youth Innovation Challenge 2017 that was organised by a local university.

Another recipient of the Stephen Riady Young Entrepreneur Scholarship is Lynette Lau Ka Yee, who is studying Business Administration at NUS Business School and now runs a start-up called PICXELS. The business provides instant photography services at corporate events.

In the past, NUS has played a significant role in building Singapore’s entrepreneurial ecosystem, while pioneering many entrepreneurship initiatives locally and overseas. Its students has reaped the benefit from a holistic entrepreneurial education through initiatives such as the NUS Overseas Colleges Programme and the NUS Enterprise Summer Programme.

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NUS has also established incubation spaces such as BLOCK71 and The Hangar at NUS Enterprise to create a dynamic environment for start-ups to grow and thrive.

This new scholarship and the recently announced Graduate Research Innovation Programme (GRIP) that promotes entrepreneurship amongst graduate students, post-doctoral researchers and staff, further demonstrate NUS’ commitment in developing the entrepreneurial community on campus.

Photo by Christian Chen on Unsplash

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