Empowering Students, Impacting Communities
Generous endowed gifts from CFAM will create opportunities for underprivileged students and drive social innovation at SIT.
A new bursary for less privileged undergraduate students from all academic disciplines as well as a new social innovation grant have been made possible at the Singapore Institute of Technology (SIT), thanks to generous endowed gifts totalling $1.2 million from CFAM Pte Ltd.
The new CFAM Bursary, which recipients can tap on to help cover their educational expenses, will be awarded from this Academic Year (AY) 2023/24 onwards. At steady state, this Bursary will allow SIT to nurture at least five recipients annually and in perpetuity. Valued at $5,000 each, the CFAM Bursary will be impactful in raising up talented professionals for the industry, while generating a positive multiplier effect for their respective families and the community in the years to come.
CFAM Pte Ltd’s philanthropic commitment has also enabled SIT to establish the endowed CFAM Community Leadership and Social Innovation Grant to support learning opportunities in these areas for SIT students, through various programmes and projects spearheaded by SIT’s Community Leadership and Social Innovation Centre (CLASIC). The grants, ranging from $5,000 to $15,000 each, will be awarded annually from AY 2024/25 onwards to community-related projects addressing areas of national interest, such as ageing demographics and Smart Nation initiatives.
Said Professor Yaacob Ibrahim, Director of CLASIC: “CLASIC and its programmes are designed to nurture SITizens who will continue to contribute to the community even beyond graduation. I wish to thank CFAM Pte Ltd for this gift, which will enable us to curate more community initiatives and projects to enhance the quality of life of identified beneficiaries. Our students, too, will become more attuned to the needs of different segments in the community through their participation in these initiatives. The learning experience will eventually inform their industry practice and also enable them to explore innovative solutions for the community, as they become professionals and change-makers of the future.”
Said Ms Olivia Azzahra, Executive Director of CFAM Pte Ltd: “We believe in realising value from socially responsible and sustainable investments, and philanthropy that will generate a good social impact. We hope that these gifts will empower the recipients to transform the future for themselves, their families, as well as the community.”