Aspire Scholarship by Dr. Ajai Chowdhry's Family Trust celebrates 2nd season with landmark achievements

~ Witnesses 2x growth in enrolment from last year ~
~Shortlisted students increased by 25% more than anticipated~

NEW DELHI, Dec. 11, 2024 /PRNewswire/ -- The second edition of the Aspire Scholarship, a thoughtful initiative by visionary Ajai Chowdhry to further cement India's position as a global talent hub for engineering students, has been released following its remarkable success last year. Aspire Scholarship was officially announced in July 2023 by Swayam Charitable Trust, Chowdhry's family trust, with a shared vision of providing essential support to aspiring engineers who encounter financial obstacles in their pursuit of higher education and excellence. Since the Aspire Scholarship initiative was announced last year, 64 students have been granted, surpassing the Trust's initial goal of empowering 28 scholars annually with an outlay of INR 100 million for phase one.

Similarly, as part of their philanthropic initiatives, one of the Trustees of Swayam Charitable Trust and Dr. Chowdhry's son, Kunal, set up a $250,000 fund at Harvard Business School in 2019 which has helped more than ten Indian MBA students from humble backgrounds achieve their dreams with access to the world's most renowned educational institute.

Dr. Ajai Chowdhry, Chairman of EPIC Foundation, & MGB, National Quantum Mission of India & Founder Trustee of Swayam Charitable Trust said, "Recognizing and nurturing the next generation of engineering professionals is a critical component of India's ascent to technological dominance. Aspire Scholarship is intended to create a beacon of optimism among the young and aspiring minds, who are the torchbearers of tomorrow's dynamic tech landscape. It brings me immense pleasure to observe how some of the students from the smallest of cities leveraged their passion to secure the scholarship this year. Our country needs more engineers to support the growing economy and we are happy  to do our bit to help those who will make a difference to the world."

The second edition of annual Aspire Scholarship program, which selected 36 deserving recipients for the 2024-25 session, experienced a significant twofold increase in student registrations compared to the previous year. A total of 2,296 applications from 26 states and 11 prestigious institutes were received, resulting in a 25% increase in the number of students shortlisted for the Aspire Scholarship Program of 2024-25. The substantial increase in numbers is a testament to the Trust's steadfast dedication to assisting each deserving scholar in realizing their aspirations.

Mr. Kunal Chowdhry, Trustee, Swayam Charitable Trust said, "The majority of this year's finalists (almost 80%) came from lower-income areas of India, with 74% having annual family income of less than 1 lac and 40% dependent on farming for a living. The data itself demonstrates a paradigm shift in thinking, where these students from remote regions of the nation with very little exposure, dared to dream and actually did pursue their dream. Through the Aspire Scholarship program we are hopeful of becoming a catalyst for bringing a visible change by empowering these bright young minds where they don't abandon their dream for any financial or societal hurdles. So far it has been a very fulfilling journey."

Aspire Scholarship is offered to students from 11 engineering institutes of India including the Indian Institute of Technology (across Kharagpur, Hyderabad, Patna, Delhi, Bombay, Goa), Indraprastha Institute of Information Technology Delhi, Dr. Shyama Prasad Mukherjee International Institute of Information Technology Naya Raipur, Jabalpur Engineering College, National Institute of Advanced Manufacturing Technology Ranchi and Indian Institute of Information Technology, Design & Manufacturing (IITDM) Jabalpur. The scholarship goes beyond covering only tuition fees and supports with hostel and mess fees for the selected students throughout the program.

The 'Ajai Chowdhry Fellowship Fund' set up at the Harvard Business School, named after the Padma Bhushan stalwart aligns with HBS's need-blind admissions policy and selects students purely based on merit and at same time encourages new graduates to broaden their career choices according to the impact they choose to make.