Insead receives $1m to foster entrepreneurial talent
ABU DHABI, January 11, 2016
Insead, a leading business school, has received a €1 million ($1.09 million) gift jointly from Indeed, Paul Forster and Rony Kahan, the entrepreneurs behind the popular job-search site.
The donation will enhance the school’s scholarship offer by stimulating broader diversity among MBA candidates while bringing the benefits of an Insead education to aspiring entrepreneurs, said a statement.
The scholarship will specifically support students with atypical backgrounds and creative entrepreneurial goals, it said.
The need to repay tuition loans can be a deterrent to pursuing more unconventional careers when graduates consider their post-MBA paths.
By easing the debt burden, the Indeed Endowed Scholarship aims to encourage candidates to follow their entrepreneurial ambitions early on.
“We want to do something for INSEAD so that future MBA students can realise their entrepreneurial dreams,” said Forster.
“People from non-business or atypical backgrounds often don’t have the resources to fund a full-time MBA and may not even think they are suitable candidates. We hope our scholarship will encourage and help them,” he said.
Ilian Mihov, dean of Insead, said: “We are very grateful for this wonderful support. In a highly competitive business school environment, a robust scholarship programme is the most powerful means to attracting and retaining the best candidates.
"Scholarships, such as the one from Indeed, continue to make a tremendous impact at Insead, allowing students from all over the world and diverse backgrounds to join the school. Each scholarship sends the message that Insead stands for true diversity, and talent before means.”
The Indeed Endowed Scholarship is a major new contribution to Insead’s scholarship offering. The amount of an award can be up to €20,000 ($21,842), said the statement.
The applications are now open for the September 2016 MBA intake. Only candidates who have been admitted to the MBA programme may apply, it added. - TradeArabia News Service
