Goldman Sachs Marks Women’s History Month by Preparing Young Women to Succeed in Global Careers
SAN FRANCISCO, March 27, 2017—The Institute of International Education (IIE) and Goldman Sachs (NYSE: GS), a leading global investment bank, have joined together to offer a new scholarship and mentoring program for university women in engineering, computer science and other technology-related fields in India. The WeTech Goldman Sachs Scholars program invests in young women and future leaders in information, communication and technology (ICT) in India, as part of IIE’s Women Enhancing Technology (WeTech) initiative.
More than 25 WeTech Goldman Sachs Scholars will each receive a merit-based $1,500 scholarship for the 2017/18 school year and be connected with an experienced mentor from Goldman Sachs for a six-month mentorship from June through December 2017. Women who are current second- or third-year undergraduate students in technology-related fields at select universities in India can apply online from March 30 through May 15. The winning students will be announced in June.
“Goldman Sachs is pleased to be a part of the WeTech initiative as it works to help women succeed in and obtain the economic benefits associated with ICT-related jobs,” said Shubha Iyer, a managing director in the Technology division at Goldman Sachs in Bengaluru. “Engaging women at various stages from their academic years to a career is a critical step in addressing the gender gap often seen in the technology industry.”
IIE will utilize its decades-long experience and expertise in global scholarship and exchanges to promote ICT education for young women in India and expand opportunities for them when they graduate by broadening their networks and building their leadership skills.
“IIE and Goldman Sachs believe that providing young women university scholarships toward a degree in a STEM field and offering real-world career advice has tremendous impact on their ability to thrive in the global workforce. This comes at a time when the tech industry around the world needs more women who are educated and trained to entering into STEM careers and work with peers across many different countries and cultures,” said Allan Goodman, IIE president and CEO.
Technology continues to be a key source of growth and employment in India, and over the past decade an increased number of women have pursued degrees in technology fields and entered the workforce. However, the gender gap persists, particularly at premier institutions and at senior management levels. By financially supporting young female students in India who are entering ICT fields, WeTech aims to develop a healthy pipeline that will lead to economic growth and peaceful and prosperous societies.
Combining financial support with a six-month structured mentorship program will enable these women to connect with professionals working in the field who can provide them with valuable advice and guidance to ensure their success as they enter into technical careers after graduation. Students and mentors will gain access to a relevant mentorship curriculum that covers topics such as career planning, interview skills and professional networking.
Since 2014, Goldman Sachs and IIE have partnered together to deliver innovative and high-impact programming in India through the WeTech Afterschool Program. Over a three-year period, the program partnered 225 middle and high school girls from Bengaluru with over 100 professionals from Goldman Sachs and other technology companies, who served as volunteer mentors. The mentors guided teams of students through the 12-week curriculum to build their own mobile application addressing social problems and designing business plans to showcase their ideas. In 2015, one middle school team from India mentored by Goldman Sachs was awarded the highest prize among 400 submissions from 28 countries at the Technovation World Pitch Competition, an international technology entrepreneurship competition in San Francisco, California, receiving US$10,000 to launch their application for public use.
WeTech is a consortium of dedicated partners led by IIE to design and support a series of innovative activities that provide training, build networks and offer professional opportunities to help women and girls around the world enter STEM fields and succeed in technology careers. Launched in 2013, WeTech has engaged 10,000 participants, 200 professional mentors and 27 partner organizations in 21 countries to date.
As the Manager of the WeTech initiative, IIE is actively seeking new partners and resources to expand the program’s reach and impact. Individuals and organizations that wish to participate should contact IIE at WeTech@iie.org.
For more information visit WeTech on Twitter and Facebook.
The Institute of International Education (IIE) created WeTech to help women and girls enter into and succeed in Information and Communication Technology education and careers, as a core part of its commitment to empower women. IIE joined with corporate partners who share this vision to launch WeTech at the 2013 Clinton Global Initiative Annual Meeting. WeTech is led by IIE and its initiatives are carried out in China, India, Taiwan, Africa and the United States with a consortium that includes Qualcomm Incorporated, Goldman Sachs, Google and Juniper Networks as lead collaborators.
About the Institute of International Education
The Institute of International Education (IIE) is the leader in providing international education strategies and program services. Our international approach to education—diverse, borderless, impactful—is a proven way for governments and companies to invest in global talent and solidify overseas relationships. We work with policymakers, educators and employers across the globe to prepare students and professionals for the global workforce and equip them to solve the increasingly complex challenges facing our interconnected world. An independent, not-for-profit organization founded in 1919, IIE has a network of 19 offices and affiliates worldwide, including in New Delhi, and over 1,300 member institutions.
Through its Center for Women's Leadership Initiatives, IIE provides opportunities for women worldwide to participate in cutting-edge training, professional development and exchange programs and pursue higher education. Our programs help women to develop and join networks of peers, mentors and experts and serve as effective leaders in the public and private sectors around the world.
About Goldman Sachs
The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.
Goldman Sachs has been serving Indian clients since the early 1990s and established an onshore presence in India in December 2006 following a ten-year joint venture. Today, it serves leading corporate and institutional clients through corporate finance (investment banking), asset management, equity sales and trading, and fixed income securities businesses, as well as providing macro-economic and investment research. Goldman Sachs is also active in private equity and principal investing in India, deploying more than US$2 billion in capital since 2006. In addition, the firm's 5,400-person Bangalore office provides critical support and service functions for Goldman Sachs around the world.