Hyderabad: The Indian School of Business (ISB) here announced the setting up of the 'PGP Class of 2015 Startup Fellowship', which will provide early-stage financial support to promising student entrepreneurs.

The support would be provided through ISPROUTE, the school's structured pre-incubation programme, designed to support aspiring entrepreneurs, ISB said in a release on Friday.

The initiative will be funded through the PGP Class of 2015 (Hyderabad cohort) Startup Endowment Fund, with ISB topping up the corpus to ensure sustained annual support.

It will provide an annual grant to an eligible student or student-led team from the ongoing Post Graduate Programme in Management (PGP) class to pursue their entrepreneurial ventures, it said.

The MoU for the fellowship was exchanged between Madan Pillutla, Dean, ISB, and representatives of the Hyderabad cohort of the PGP Class of 2015.

"The PGP Class of 2015 Startup Fellowship reiterates the strength of our alumni community and its commitment to supporting the next generation of entrepreneurs. By providing early-stage support through ISPROUTE, the fellowship will enable student founders pursue promising ideas and advance their ventures," Dean Madan Pillutla said.

Anchana C, representing the PGP Class of 2015, said, "ISB gave our class the confidence to chart our own paths. Dedicating our class endowment to this fellowship is our way of passing that on. Every year, it will support one student entrepreneur in taking the first steps towards building a venture, with ISB's entrepreneurial ecosystem behind them".

This report was published from a syndicated wire feed. Apart from the headline, the EdexLive Desk has not edited the copy.