Nexford University has announced its ‘Entrepreneurship Scholarship‘ and $200,000 startup funding, with a mission to empower next-generation leaders across the world.

“The world needs more entrepreneurs. But millions of people struggle to get the education and skills they need. Nexford University plans to change that,” the university said in a statement on Thursday.

“The world needs more doers,” said Fadl Al Tarzi, Nexford’s Chief Executive Officer. “We thought about what we can do to help them. If you’re a doer, you won’t let anything stop you, be it your physical location, lack of experience or even lack of funding.”

Tarzi said: “Having said that, we want everyone to succeed – we want to empower people with the tools they need to increase their chances of success.

“Through this initiative, we are providing entrepreneurs with the skills they need to move forward in life, and we’re not stopping there. While we believe skills are the most valuable currency, you can’t buy ads or hire people with skills alone. So we’re taking it one step further and funding the most promising startup ideas we’ll receive.”

Entrepreneurs play a key role in the economy. The United States Small Business Administration reported that small business added 1.9 million net new jobs in 2018. The 30.2 million small businesses in the US employ 47.5 per cent of the state’s private workforce. Forbes found that the global startup economy also generated $2.8 trillion in economic value since 2017. 

According to the school, there will be 100 BBA or MBA scholarships as part of Nexford’s push to support more entrepreneurs.

Scholarship recipients will practice real-world business concepts that act as a bridge to entrepreneurship. Specialisations  learners can choose from include Building a Tech Startup, 360° Marketing, Enabling E-Commerce, and Doing Business Across the World.

Scholarship graduates will have the chance to pitch their startup idea. Every year, Nexford will fund five scholarship graduates at $10,000 each. 

Nexford offers 100 per cent online, globally affordable education through a next-generation learning experience. While many universities offer education that is heavily theoretical, Nexford believes in a different approach – education is important not only for startup success but as a foundation on which learners will build on for years to come. Along with applicable skills, learning how to learn is essential regardless of one’s career path.

Rebecca Ebokpo, MBA 2019, said: “I’m going to use my MBA to support managing my own law practice and advise clients on business-related issues.

“I am happy to be part of the movement to the next generation of education. And I encourage others to come join the movement.”

Nexford Entrepreneurship Scholarship applications are open until September 15.