MIT Sloan Fellows MBA Scholarship For Promoting Social Impact Entrepreneurship In India

Participants in the MIT Sloan Fellows MBA Program will now be eligible for a scholarship for promoting entrepreneurship for social impact in India

The MIT Sloan School of Management had recently announced the creation of the Ambition, Innovation & Motivation (AIM) Scholarship for graduates of the MIT Sloan Fellows MBA Program.

The scholarship has been funded and instituted by current MIT Sloan Fellow, Shweta Aprameya, SFMBA ’19, to support Sloan Fellows conducting social impact projects in India, MIT Sloan said in a press release.

“The goal of the fund is to support entrepreneurship and innovation among MIT Sloan Fellows and solve some of the world’s most critical issues,” says Aprameya, who is a career professional turned social entrepreneur. She is also founder-director of Arth Udgam Welfare Foundation in Lucknow, India.

Scholars will be awarded $10,000 upon arriving in India and $1,000 per month to cover living expenses. The scholarship will provide logistical support and access to industry experts who will serve as advisors.

She had set up the Foundation in 2015 to provide affordable and easy access to credit to rural communities, especially women micro-entrepreneurs. The company began its operations in eastern Uttar Pradesh, empowering under-privileged women to rise and participate in income-generating activities.

True to its name “ArthUdgam” meaning “Origin of Money”, the essence of the foundation lies in enhancing the income generating abilities of the less privileged communities and thereby uplift their socio-economic quality of life, AUW says on its website about its mission.

The scholarship will be available to MIT Sloan Fellows to set up a social impact project in India for six to nine months after graduation. Candidates will be entrepreneurs who want to test and implement their ideas and solutions that are aligned with the Sustainable Development Goals set by the United Nations.

Preference will be given to action-oriented candidates eager to execute their idea on the ground, the release added.

Scholars will be awarded $10,000 upon arriving in India and $1,000 per month to cover living expenses. The scholarship will provide logistical support and access to industry experts who will serve as advisors.

The first recipient will be selected by a five-person selection committee comprising MIT Sloan faculty, administrators and a student.

The MIT Sloan Fellows MBA Program is a one-year program that attracts high-potential leaders enthusiastic to discover new possibilities for innovation—and action. MIT Sloan Fellows are experienced leaders and mid-career professionals with a minimum of 10 years of work experience. They come from 30 plus countries seeking an MBA or MS in Management or Management of Technology.