A new initiative has been launched by the Institute Centre for Innovation and Entrepreneurship at Abu Dhabi’s Masdar Institute of Science and Technology.
The BP Innovation Scholarship programme is a two-year, fully-funded, merit-based scholarship which is available to graduate students in any of Masdar’s engineering concentrations.
The first two scholarships are expected to be awarded in September, helping to develop sustainable technology business plans, and funded in part under the recent $7m collaborative innovation agreement signed between Masdar Institute and BP.
Scholarships include full tuition, housing living expenses, travel costs, and certain patenting expenses.
The programme was announced during an Open House organised by the Institute (known as ilnnovation) with BP to mark the launch of the ilnnovation Lab (iLab). The iLab provides faculties and students with facilities, training, mentorship and other resources to explore the commercial potential of their research.
The Open House brought together a number of innovators, angel investors, finance sector professionals and other stakeholders in the innovation and entrepreneurship ecosystem.
Dr Issam Dairanieh, managing director of BP Ventures, said: “This is an opportunity for BP to bring to Abu Dhabi its expertise and resources in creating pockets of innovation and in developing human capital.
“Our goal is to help to commercialise locally-developed technologies and to contribute to Abu Dhabi’s objective to build a diverse and sustainable economy.”
President of Masdar Institute, Dr Fred Moavenzadeh, added: “This initiative from BP further strengthens our collaboration for developing new entrepreneurs with the right project concepts and the commitment to succeed.
“The continuing support of the UAE leadership helps us to launch new programmes through our partners and we hope the BP Innovation Scholarship will help encourage enthusiastic students to fulfil their entrepreneurial dreams.”For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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