Infosys Foundation, philanthropic arm of the IT major, has signed a pact with the Indian Institute of Science Education and Research (IISER), Pune, to support students from economically weaker sections, pursuing 'high quality' education.
The Memorandum of Understanding, aims at providing opportunities for economically weaker students to pursue high quality science education and research through scholarships, fellowships and travel awards, Infosys said.
It said, as part of the Memorandum of Understanding, the corpus fund of Rs 5 crore named as 'The Infosys Foundation Endowment Fund', will continue in perpetuity to benefit a minimum of 50 students annually. The grant will be used towards the establishment of Infosys Foundation Scholarships, which will be awarded to BS-MS students, Infosys Foundation Fellowships endowed to integrated PhD students and Infosys Foundation Travel Awards to PhD students who have excelled in their research work, the company added.
Infosys said the grant is aimed at fulfilling the Foundation's objective of creating equal opportunities for students from poorer background and advancing the quality of research done at Indian institutions.
The establishment of scholarships, fellowships and travel awards provides opportunities for students at different academic levels to gain from the grant, it said.
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