Fulbright Commission and UCL launch new scholarship
2 April 2012
The Fulbright Commission and UCL will establish a new Fulbright scholarship for the University's MSc in Technology Entrepreneurship.
The Commission - which promotes peace and cultural understanding through educational exchange - will initially offer the scholarship for the next four years, with one US student a year benefitting from the scheme.
The Scholarship, which will be known as the Fulbright-UCL Technology Entrepreneurship Award, includes a fee waiver of £20,000 and a stipend for the duration of the post-graduate degree of £13,000. It will enable American students to immerse themselves in London's leading entrepreneurial culture.
The MSc in Technology Entrepreneurship has been running since 2005, and in that time enrolment has increased to the current intake of 63 students annually, drawn from countries as diverse as Chile, Bulgaria and China.
The one-year taught master's programme is designed to enable students to start their own businesses and expose them to the leading business minds in digital technology.
UCL is a global leader in entrepreneurship education and located in the heart of Europe's most exciting city for digital innovation - we're funding this scholarship because we want to attract the very best talent in the world to study here.
Graduates from the Master's programme have already made their mark in the business world, with two companies, Vungle, a mobile phone app advertising business, and Ovia, a video-interviewing and recruitment tool, both raising in excess of £1m in start-up capital.
Additionally, one student, Fadzli Shah Anuar, has recently set up a company selling mobile apps which has already seen him win the Malaysian equivalent of Dragon's Den, being offered 700,000 ringgit (around £140,000) in the grand final of the show for his idea.
Fadzli's business, VocHEREs, enables people to take advantage of location-based special offers on the go, for example when passing specific stores or restaurants.
Commenting on the scholarship, Tim Barnes, Director of UCL Enterprise Advances, UCL's centre for entrepreneurship, said:
"UCL is a global leader in entrepreneurship education and located in the heart of Europe's most exciting city for digital innovation - we're funding this scholarship because we want to attract the very best talent in the world to study here.
"The students undertaking our Master's degree in Technology Entrepreneurship will have the one of the best foundations in the world for launching their own businesses."
Dr Dave Chapman, Vice-Dean (Enterprise) at UCL Management Science and Innovation, added:
"For any American students wanting support to start their own business, gain a global perspective and learn with some of the best students in the world from a range of cultures and academic backgrounds, this programme provides them all.
Our Masters' programme accelerates the development of business ideas, tests feasibility and aims to propel students to the top of their game - all in one of the most exciting cities in the world for digital entrepreneurs."
Michael Scott-Klein, Director of the Fulbright Awards Programme at the Fulbright Commission, said:
'The Fulbright-UCL Technology Entrepreneurship Award is one of the most exciting additions to the Fulbright Programme for many years.
For Fulbright, it's truly one of a kind. By fostering entrepreneurial spirit and business zeal amongst bright, enthusiastic postgraduates the Award offers an unparalleled opportunity for an American student to develop their ideas and skills, at a world-class institution right in the heart of London, and emerge as a leader of new enterprise.
With UCL's expertise and the global Fulbright network, the awardee will be incredibly well placed to succeed in today's world.'
Media contact: Henry Rummins