The Goldman Sachs Foundation and the Institute of International Education (IIE) today announced that an extraordinary group of 29 second-year students from leading Indian colleges have been named as 2008 Goldman Sachs Global Leaders, the third class of students in India to be so honored.
Since 2001, the Goldman Sachs Global Leaders Program (GSGLP), developed by The Goldman Sachs Foundation and IIE, has been a pioneer in identifying and developing some of the world's most promising future leaders. Students are selected through a rigorous competition on the bases of academic excellence and leadership potential. Today's honorees are among 150 outstanding second-year students selected this spring from over 100 of the world's top colleges and universities.
The selection of this year's students continues a recent expansion of the programming India. Along with other philanthropic initiatives, the expansion of the program demonstrates the commitment that both Goldman Sachs and IIE have made to the region.
Participating colleges and universities in India include The Indian Institute of Technology (Kanpur), Lady Shri Ram College (New Delhi), Loyola College (Chennai), Mt. Carmel College (Bangalore), St. Stephen's College (New Delhi), The National Law School of India University (Bangalore), Nizam College (Hyderabad), Presidency College (Kolkata), St. Xavier's College (Mumbai), Birla Institute of Technology and Science (Pilani), and Fergusson College (Pune.)
"Global Leaders are extremely talented academically and have already shown proven leadership abilities and a strong interest in global affairs," said Brooks Entwistle, Managing Director and C.E.O., Goldman Sachs India, as he lauded the 29 Indian 2008 Goldman Sachs Global Leaders. "India plays an increasingly important role in the global economy, and these Goldman Sachs Global Leaders will undoubtedly take on critical leadership roles in business and society here and around the world."
Over the past eight years, 900 students from more than 20 countries have been honored as Goldman Sachs Global Leaders. They have built an extensive network with each other and, with modest seed funding from the program's Social Entrepreneurship Fund, have joined forces to launch innovative social ventures, including a school in rural India, a technology education program in China, an art therapy program for AIDS-affected children in Namibia, and a micro-enterprise initiative for women entrepreneurs in Macedonia.
Each Global Leader receives a $3,000 grant for educational expenses, as well as continued support for their academic and professional advancement through an international alumni network. In addition, 75 of this year's 150 Global Leaders, including 15 from Indian universities, will be selected to participate in the annual Goldman Sachs Global Leadership Institute in July in New York City. At the Institute, they will engage in meaningful dialogue with experts from the private, public and nonprofit sectors about their own leadership roles and critical global issues such as environmentalism and emerging markets. Past Institute speakers have included executives from Goldman Sachs and other companies, diplomats from the United Nations, and leaders of influential non-governmental organizations.
"Our world today requires leadership that is culturally fluent and well-prepared to address complex issues that have global impact," said Stephanie Bell-Rose, President of The Goldman Sachs Foundation. "This program invests in the talented young people who make up the next generation of global leaders to ensure that they possess the skills and the networks they need to lead us to a better future."
According to IIE President and CEO Allan Goodman, the Goldman Sachs Global Leaders Program addresses the critical need to develop leaders for an interdependent globe. "These students have an extraordinary understanding of the world around them, and an unwavering desire to continue to learn how to work across cultural and national borders to solve global problems. Through the Global Leaders Program, they are learning to think and work in ways that will prepare them for a world in which international cooperation will offer the best solutions to our most pressing political, social, and humanitarian concerns," he said.
The Goldman Sachs Foundation was funded in 1999 with a $200 million donation from The Goldman Sachs Group, Inc. The Foundation's mission is to promote excellence and innovation in education worldwide. The Foundation is an important extension of the tradition of philanthropy and public leadership at Goldman Sachs. Grants have been awarded in excess of $114 million since its inception, providing opportunities for young people in more than 20 countries.
The Institute of International Education (IIE) is a leading nonprofit organization specializing in the international exchange of people and ideas. Its expertise enables institutions and individuals to build capacity in their home countries and regions. IIE designs and implements over 200 programs of study and training for students, educators, young professionals, and trainees from all sectors with funding from government and private sources. These programs include the Fulbright Student and Scholar programs as well as corporate training and scholarship programs. IIE also conducts policy research and provides advice and counseling on international educational opportunities. The Institute of International Education has a network of 19 offices worldwide, over 900 college and university members, and more than 5,000 volunteers.
An independent nonprofit organization founded in 1919, the Institute of International Education (IIE) is among the world's largest and most experienced international education and training organizations. The Goldman Sachs Foundation awarded a grant to IIE to create the Global Leaders Program, and IIE administers the Goldman Sachs Global Leaders Program in partnership with The Goldman Sachs Foundation. With a mission of Opening Minds to the World®, IIE assists donor agencies to build the international competence necessary to address global problems and forge creative solutions. Last year, more than 20,000 men and women from 175 countries received scholarships and professional training through IIE programs. Fifty-eight Institute grantees, Trustees, and Fulbright alumni have been awarded Nobel Prizes. One of IIE's key goals is to build leadership skills and enhance the capacity of individuals and organizations to address local and global challenges. In addition to administering the Fulbright Student Program on behalf of the U.S. Department of State since that program's inception, the Institute also designs and implements international exchange and scholarship programs on behalf of many far-sighted donors and sponsors, including governments, foundations, and corporations around the world.