IE Foundation Announces Kistefos Young Talented Leader Scholarships Program

Two Million Euros in Scholarship Funds to Boost Young Innovators from Norway and Africa

MADRID, Feb. 28, 2019 /PRNewswire/ -- IE Foundation [https://www.ie.edu/ie-foundation/] is pleased to announce that Kistefos AS [https://www.kistefos.no/], thanks to the generosity of its owner Christen Sveaas, has pledged more than two million euros to create the IE Kistefos Young Talented Leaders Scholarships Program [https://www.ie.edu/ie-foundation/talent/scholarships/corporate-scholarships/kistefos/]. The program will enable young talent from Norway and Africa with a vision for business and innovation [https://www.ie.edu/ie-foundation/talent/scholarships/corporate-scholarships/] to study at IE University [https://www.ie.edu/university/].

https://mma.prnewswire.com/media/825718/IE_University.jpg [https://mma.prnewswire.com/media/825718/IE_University.jpg]

Over four years, the program will grant a total of 46 scholarships to candidates in Norway, South Africa, Liberia, and Ethiopia. The Fellowships for Leading Norwegian Talent will include two scholarships for undergraduate studies and 20 scholarships for pre-experience masters and the Fellowships for Leading Africa Talent will include 24 scholarships for pre-experience masters for candidates. All scholarships will cover up to 100% of tuition fees including living expenses and travel arrangements for the master programs.

Scholarship candidates must demonstrate academic and personal excellence, strong leadership capabilities, an entrepreneurial mindset, and a commitment to impacting their home countries upon graduation.

With this recent gift and creation of the Kistefos Young Talented Leaders Scholarships Program for undergraduate and master studies at IE University, Kistefos AS continues its support of young talent, specifically in the company's home country of Norway and on the African continent. In the past decade, the investment company, has established programs focused on public service in coordination with other academic institutions such as the Kistefos Public Service Fellowship at Harvard Kennedy School and the Kistefos St. Gallen Masterclass Scholarship. Through this new partnership with IE University, Kistefos AS continues that tradition of empowering young talent to make a difference, now by nurturing the next generation of entrepreneurs and innovators.

"For IE Foundation, this major gift is a testament to both the generosity of Norwegian entrepreneur and philanthropist Mr. Sveaas and our desire at IE to ensure that all students have access to a transformative university experience that will help them forge their own paths and help bring about change for the better," said Santiago Iñiguez, President of IE University.

For the past five years, IE has awarded approximately 15 million euros per year in scholarships [https://www.ie.edu/financial-aid/] to more than a total of 6,000 students from +150 countries. The IE "Talent without Borders" scholarships program, of which the Kistefos Young Talented Leader Scholarships Program is the latest donor, aims to provide a wide range of scholarships and grants to individuals from diverse cultural and socioeconomic backgrounds.

"Africa's young population will soon become tomorrow's leaders and in the coming years no other region in the world will have such high demand for management education which will drive sustained economic growth and innovation," said Christen Sveaas. "These scholarships will help students from Ethiopia, Liberia, and South Africa develop the skills in technology, business and development which will enable them to have meaningful impact in their countries upon graduation."

"The scholarship fund sets out to attract Norwegian students who demonstrate high potential yet lack the financial resources that make an international education possible. These scholarships aim to develop socially responsible leaders who will innovate and advance Norway's business sector through innovative entrepreneurial initiatives," said Bengt A. Rem, CEO of Kistefos AS.

About IE University IE University [https://www.ie.edu/university/] offers a technology-based learning ecosystem for leaders making a difference in the world through innovation, global vision, an entrepreneurial mindset and a Humanities-based approach. IE's faculty includes more than 500 professors who teach degree and master's programs, doctorates and executive training to students from 131 countries.

About Kistefos AS Kistefos [https://www.kistefos.no/] is a private investment company wholly-owned by Christen Sveaas, with a portfolio that includes Norwegian and foreign companies within the segments offshore, shipping, financial services, telecommunications, real estate as well as financial investments.

(Photo: https://mma.prnewswire.com/media/825718/IE_University.jpg [https://mma.prnewswire.com/media/825718/IE_University.jpg])

Contact Kerry Parke Associate Director of Communications, IE University kerry.parke@ie.edu [mailto:kerry.parke@ie.edu] +34-915-689-850

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