Investing in youth

The Mondi Austria Private Foundation has awarded special scholarships worth up to €12,000-a-year to over 30 young students from across the world wishing to study technology, natural science and economic science subjects in Austria. An annual €1,000 travel grant is also available.

Founded in 2005, the Foundation was set up to provide Austrian Student Scholarships to students not older than 23 from Africa, Asia, Central and Eastern Europe and Austria itself who are keen to attend an Austrian university, technical college or similar institution.

It was the brainchild of Dr Veit Sorger, former CEO of Mondi’s Frantschach operation, who said at its launch: “The future belongs to young talents. It is our duty to invest in youth, to the benefit of the individual, the economy and society.”

The scholarships are proving highly attractive, with 630 applications from 60 countries received during the first two years of the Foundation’s life. Each award lasts for up to four years (or for the minimum duration of the course) dependent on the personal success of each student. It may be used to help fund a bachelor’s degree or a master’s for those who have already achieved a first degree in their home country.

Students who receive awards are not required to work for Mondi on completion of their studies – the company sees such support as an important means of helping individuals achieve personal goals that enable shared benefits. According to Mondi CEO David Hathorn, “Promoting the potential of young people is a particular responsibility.”

Last change: 18/03/2008