The Stanford Graduate School of Business, together with Reliance Industries Limited (RIL), last week announced the creation of a new education fund to provide full financial support for promising Indian students with demonstrated financial need to complete the Stanford two-year MBA program.
Through the new Reliance Dhirubhai India Education Fund, Stanford will award up to five Reliance Dhirubhai Fellowships each year. The fellows will receive full financial support, including tuition, course-related fees, a living stipend and a travel allowance – amounting to an estimated $83,000 total value per fellow per year.
“A global perspective is essential to successful management,” Robert Joss, dean of the Stanford Business School, said in an April 23rd statement announcing the new fellowships. “This fellowship program, made possible by a generous gift from Reliance Industries Limited, allows the Stanford MBA Program to extend its outreach within India to the best and brightest MBA candidates,” he continued.
Funding is automatically renewed for the second year to all students who maintain good academic standing and community citizenship. In accepting the fellowship, Reliance Dhirubhai Fellows agree to return to India for a minimum of two years to work in either the private or public sector.
“With India now a truly globalized and rapidly growing economy, good management talent developed at both India’s top universities and at institutions abroad will be essential to supporting future innovation and growth,” said Mukesh Ambani, RIL chairman and managing director, in a statement.
RIL, India’s largest private sector company, is the country’s first and only private sector company to be featured in the Fortune Global 500 list of ‘World’s Largest Corporations’ and ranks among the world’s Top 200 companies in terms of profits.
Prospective fellowship recipients are invited to complete a two-stage application process. The first stage calls for completion of the Reliance Dhirubhai Fellows application between May 15 and July 15, 2008. Finalists in this stage will be selected based on merit, commitment to developing India and documented financial need.
Applicants advancing to the second stage must then complete the standard application process for the Stanford MBA Program by October 2008. Stanford – employing its primary admission criteria of intellectual vitality, demonstrated leadership potential, and personal qualities and contributions – may select up to five Reliance Dhirubhai Fellows per year.
For complete details on the Reliance Dhirubhai Fellows application process, click here.
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