Careem Co-Founder Mudassir Sheikha announces USD 2 Million for LUMS. LUMS has received a generous donation of USD 2 million by Mr. Mudassir Sheikha, CEO and Co-founder Careem, to establish the “Sekha Scholarship” for undergraduate scholars at the Syed Babar Ali School of Science and Engineering (SBASSE). The scholarship entails 100% merit-based fee waivers to 10 top students with financial need.
“We are honoured by the expression of confidence Mr. Sheikha has shown in our capacity for impact, and we are grateful for this support”, said Syed Babar Ali, Founding Pro Chancellor, LUMS.
LUMS SBASSE offers world class undergraduate programmes in Biology, Chemistry and Chemical Engineering, Computer Science, Electrical Engineering, Mathematics, and Physics. The School’s highly qualified faculty has been at the forefront of LUMS no-borders philosophy, encouraging cross-disciplinary collaborations within SBASSE and across other Schools.
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Acknowledging the donation, Mr. Shahid Hussain, Rector, LUMS said, “We are very grateful to Mudassir Sheikha for setting up merit scholarships for students to work in the finest facilities and with mentorship by dedicated faculty. This is the type of support that takesus in the right direction.” The scholarship will reward the top science and engineering undergraduate students on financial aid by providing merit-based fee waivers, incentivizing excellence in education.
Who is Mudassir Sheikha?
Mudassir Sheikha is one of the globally recognized startup founders after launching of Careem in March 2012. The product was able to gain startup funding of USD 1.7 million in 2013 from STC Ventures. This led to successful launch of service in various countries and making it a resounding success for mobility services.
Mudassir Sheikha was the only Pakistani in Bloomberg 50 list of 2018. He is one of the prominent billionaires of Pakistani origin with unknown exact net worth. However, the rough estimates also indicate him to be a millionaire in USD and a billionaire in PKR terms.
This donation is likely to support Pakistani academic foundation for business and support entrepreneurship in the country.
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