Ronnie Screwvala announces a scholarship worth Rs. 100 crore towards online education
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April 24, 2017: Ronnie Screwvala, co-founder of the Online Education start-up has announced a Rs. 100 crore scholarship for those that want to improve and enhance their skill sets via online courses. The scholarship fund will award scholarships in the range of Rs. 25,000 and Rs. 2 lakh.
He said, "We need 125 million young Indians in post-graduation studies and currently not more than 30 million today are engaged in higher studies as a majority of them start working early in their career and so online learning or education is the real answer."
He added that the idea was to improve the relevant skills of motivated individuals and get them equipped with the latest industry/market knowledge of their area of interest.
Initial fund corpus is Rs. 100 crore which Screwvala intents to increase to up to Rs. 400 crore over a period of 3-4 years.
With an individual investment of Rs. 10 crore by Ronnie Screwvala himself, he intends to raise the rest of the amount from corporates and individuals who are driven to build a better tomorrow.
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The scholarship fund will also invest in UpGrad, an online education platform, co-founded by Ronnie Screwvala himself.