Over S$500,000 awarded to 24 students in Insead Singapore Scholarship's inaugural year

BUSINESS school Insead has awarded over S$500,000 in bond-free scholarships to 24 Singaporeans and permanent residents (PR) to support their studies at the Insead Asia Campus in Singapore.

On average, each recipient of the new Insead Singapore Scholarship will receive about S$22,000. Established in 2021, the scholarship is open to Singaporean and PR applicants for 4 of Insead's Master programmes, and covers up to S$30,000 in tuition fees.

Of the inaugural batch of recipients, more than a third are women. Sharon Chan, one such recipient and a Master of Business Administration (MBA) student, said the programme allowed her to learn about a variety of business topics, acquire new skills and hone her communication and leadership skills.

"The whole MBA experience has transformed me into a more self-aware, centred, and courageous person – ready to launch back into the working world, where I am inspired to continue to build my career while making meaningful impact to the world,” she said.

Apart from the Singapore scholarship, Insead offers more than 100 different categories of scholarships, mainly for MBA students from developing countries.

These include scholarships for women to increase their representation in leadership positions in business; social impact scholarships for students with a passion for social entrepreneurship; leadership scholarships; and scholarships for African students.

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Ilian Mihov, dean and professor of economics at Insead, believes that scholarships attract the best talent from all nationalities, cultures and backgrounds, helping to drive diversity and equality while promoting economic development.

“Educational scholarships are one of the most important ways to reduce income inequality by offering equal opportunities to the best and brightest students and future business leaders, regardless of their background or financial situation,” he said.

Since his deanship began in 2013, 90 new scholarships have been created, with recipients from more than 45 different countries. Over the last 3 years, Insead has doubled its scholarship funds to offer higher grants to more participants.