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Goldman Sachs to Fund Training of 500 Young Entrepreneurs at National Academy

Originally Published 24 March 2003

The Goldman Sachs Foundation has announced a grant of US $375,000 (£235,900) to the National Academy for Gifted and Talented Youth (NAGTY) at the University of Warwick to provide for the first year of a 3-year programme of entrepreneurship education for 500 gifted and talented young people. The award has been made as part of the Foundation's signature initiative in Developing High-Potential Youth.

The scholarships in entrepreneurship will be aimed at members of National Academy for Gifted and Talented Youth from less advantaged backgrounds, and who participate in the Academy's summer schools. Student will be assigned mentors, (a combination of Goldman Sachs professionals and MBA students). Scholars would have access to a special web site and efficient online learning materials which will include multimedia presentations, virtual experiments, competitions, quizzes, and discussions by which they will work through with their mentors. They will take part in a business plan competition, and also participate in entrepreneurship education provided by the National Foundation for Teaching Entrepreneurship.

Speaking of the grant to NAGTY, Stephanie Bell-Rose, President of The Goldman Sachs Foundation, said, "Developing well-prepared leaders for tomorrow is a driving goal of the Foundation. This grant to NAGTY will ensure that bright students from around the UK will have access to resources and enrichment opportunities that will prepare them for success in university and in their careers. We are pleased to be working with NAGTY to help develop leaders of the future."

Deborah Eyre, the Director of the National Academy for Gifted and Talented Youth said: "We are delighted by this significant commitment by The Goldman Sachs Foundation to the work of the Academy. It will enable us to further enrich the educational experience of some of England's most talented and gifted young people and will inspire them to make the most of their considerable potential".

This is the first sponsorship agreement to be announced by the Academy. Other sponsorship announcements are expected imminently. The National Academy for Gifted and Talented Youth was established at the University of Warwick in Feb 2002. It is charged by the government with enhancing the educational experience of the top 5% of young people in England.

For further information contact:

Peter Dunn, Press Officer, University of Warwick
Tel: 024 76 523708

Fiona Champness, National Academy for Gifted and Talented Youth,
University of Warwick Tel: 024 76 57 4308

Christopher.Williams, Goldman Sachs
+00 1 212 357 5296

Note for Editors: The Goldman Sachs Foundation is a global philanthropic organization funded by The Goldman Sachs Group, Inc. The Foundation's mission is to promote excellence and innovation in education and to improve the academic performance and lifelong productivity of young people worldwide. It achieves this through a combination of strategic partnerships, grants, loans, private sector investments, and the deployment of professional talent from Goldman Sachs. Since its foundation in 1999, the Foundation has awarded over $40 million in grants, providing opportunities for young people in over 20 countries.