For 35 years, one of Bermuda’s leading international business groups has been providing educational scholarships to some of the Island’s top industry executives.Since 1977, the Association of Bermuda International Companies (ABIC) has helped several high-profile businessmen pay for university — including Rees Fletcher, CEO of Ace Bermuda; Patrick Tannock, president of XL Insurance (Bermuda) and Andrew Parsons, president of Belco.They are among the more than 500 students that have received funding since the programme started with more than $5 million given out in the last decade alone. The ABIC Awards is the largest post-secondary scholarship programme in Bermuda.The mission of the initiative is to enable qualified Bermudians, in financial need, to pursue their undergraduate or graduate educational goals in areas related to international business. The hope is that the graduates return to the Island to help build the international business sector.“For 35 years, promising students eyeing careers in Bermuda’s international business sector have been able to get significant support for their university,” said Roy Fellowes, the chairman of the Education Awards.Each year, 60-80 applications are received from Bermudian students pursuing full undergraduate or post-graduate degrees in accredited colleges or universities. Only 16-25 students chosen each year.Scholarships are awarded on the basis of financial need, academic ability, and field of study. Currently, the undergraduate award to each recipient is $15,000 per year for a two-year period while the post-graduate is valued at $20,000 for a one-year period.“The Education Awards are an important first step for many Bermudians to both start their college experiences and to initially associate them with international business, with the mutual expectation of a long lasting and beneficial association,” said Mr Fletcher. “Without this financial assistance I would not have been able to start my university studies at the time. As a result I may not have benefited from the additional opportunities that a university degree created for me.”Mr Tannock, who was a recipient in 1980 said that the scholarship enables Bermudians to further their educational goals overseas.“As former scholarship recipients working in international business we are uniquely positioned to positively influence perceptions about Bermudians in the international business arena,” he said.Two years later in 1982, it was Mr Parsons’ turn who received help to pursue a Master’s degree in Business Administration.“I can honestly say that, without their help, I would not have been able to pursue this degree which then led me to becoming a chartered accountant, and set me on the path of my career in business,” he said. “I am indebted to them for their support.”Undergraduate applications are invited from students in both the government and private schools as well as from students already enrolled in a degree programme at an accredited college or university. Post-graduate applications are invited from students with at least two years’ work experience.Other criteria are also considered, including the applicant’s specific career focus, awareness of the role of international business in Bermuda, and their level of involvement in and commitment to the community. Recipients must be Bermudian or have PRC status or be eligible for it at the time of entering the intended college or university.For more information, visit www.abic.bm