Seymour Schulich has made his latest eye-catching contribution to Canadian universities, announcing a $100-million scholarship program to encourage students in Canada and Israel to study science, technology, engineering and math.
The Canadian businessman and philanthropist’s name is already on schools at several Canadian universities thanks to generous donations, but he will now directly fund promising students entering the “STEM” subjects in an effort to help mould them into “pioneers” of global research and innovation.
Once fully implemented in 2014, the program will provide 75 students annually with Schulich Leader Scholarships, worth $60,000 over four years and open to any high school or CEGEP graduate in Canada or Israel entering a STEM subject. Twenty Canadian and five Israeli universities are invited to gather nominations from some 1,600 high schools, and Mr. Schulich has chosen the United Jewish Appeal Federation of Toronto to administer the endowment.
“Science and technology are the principal drivers for a country’s economy where education, fuelled by strong math, is essential for national and global economic performance,” Mr. Schulich said in a statement.
The endowment is expected to generate $5-million annually, and will be indexed to inflation to ensure the scholarships keep their value.