Indian companies are pouring huge sums into boosting the visibility of their products in India, with some companies setting up the first Indian “Dr Pepper Scholarship” scheme.
The scheme aims to give away 1,000 scholarships for the first year of employment of the students, who will then receive another 1,500 scholarships in the second year.
The scholarships range from Rs.1,000 for entry-level positions to Rs.2,000 a year for graduates.
According to Dr Pratip Rao, the dean of the Tata Institute of Social Sciences, the scheme is an innovative idea, in that it allows the students to make a choice about which companies they want to work for.
“It’s a good way to showcase their expertise,” he told Quartz.
“Students have been coming from India for a long time and we’ve always had an interest in showcasing our skills and culture to a global audience,” said Dr Rao, who was part of the initial team of more than 100 students in 2014.
“With this scheme, we are trying to provide opportunities to students who want to pursue a career in India and to those who are not interested in the Indian market.”
The Tata Institute for Social Sciences in India also plans to establish a joint venture in the coming years with an Indian company to develop a global education platform that will train graduates in a range of topics such as health, education, healthcare, finance, media, business, and IT.
“It’s also important to keep in mind that India is the largest economy in the world and there are many talented people in India who can do the same thing,” said Rao, referring to India’s economic growth in recent years.
The Tata Scholarship Scheme was launched in the first quarter of 2018 and will be extended until 2022.
India has been in a severe recession, and with the unemployment rate hovering around 6.3 percent, there is a need to attract and retain the best and brightest people.
Dr Rao says the scheme will help students who may not be able to pursue their studies in other countries.
“We’re aiming at helping them to make the most of the opportunity to come to India.
They will be able [to] make the right decision about where to study in India.”
The scheme is being launched in a bid to increase the visibility and success of Indian startups.
While there are some major companies that have set up Indian schemes to encourage entrepreneurship, it’s unclear how many such scholarships are available to students.
“There are only a few [companies] that have this sort of a scheme,” said Rajan Jain, founder and CEO of Techstars India, an incubator for entrepreneurs, who is also part of Tata Institute’s India scholarship programme.
“I think this is a very good opportunity for the startup community, especially the younger generation, to get involved.”
The scholarships are open to students of all ages, including under 18, who have a Bachelor’s degree, and the company’s CEO, Mr. Rajiv Gupta, has said that the scholarships are meant for students who aspire to work in the tech sector.
“These are not just for those who have Bachelor’s degrees, they’re for those with PhDs, which are very relevant for startups.
I think it’s a big win for the country.””
It is a great way to support students in India,” said Gupta, who has already invested $5 million in Techstars.
“They can work at companies that are in India.
It’s a great opportunity for them to get their education, which will make them better entrepreneurs and ultimately more productive.”
The company has already offered more than 500 scholarships to students, which includes a number of high-profile tech companies.
“We’re working with a few of the top startups and they are now giving us the information about the scholarship,” Gupta said.
“A few companies are already talking to us, and we’re trying to do more.”