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Terence Lee · · 1 min readIn brief: NUS launches bond-free scholarship for entrepreneurs
The National University of Singapore (NUS) has introduced a new bond-free scholarship conceived to support outstanding students who aspire to be entrepreneurs.
The new 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 want to start a new business can apply for seed funding of up to US$36,000.
In 10 years, the university expects as many as 50 startups to be spawned by these scholars.
Source: NUS press release
The money was donated by Stephen Riady, who belongs to one of Indonesia’s richest families. Like other wealthy clans in the country, the Riadys are deeply involved in the startup scene.
NUS is an institution in Singapore’s startup ecosystem. Its NUS Overseas Colleges program, which sends students to intern at startups abroad, has spawned many entrepreneurs. It recently launched an initiative to encourage graduate students to start companies.
Currency converted from Singapore dollars. US$1 = S$1.38.
Editing by Eileen C. Ang
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