Nu launches tech scholarship initiative to foster local talent in Brazil and Colombia

Bogota, December 2023 – Nu, one of the world’s largest digital financial services platforms, announces that it will offer 36 tech scholarships over the next two years through partnerships with Estudar, Fundação Lemann, and Vélez Reyes+ Foundations in Brazil and Colombia.

The programs aim to foster tech talent in the region and will receive a US$1.2 million investment from the Give Back philanthropic fund, created to promote a positive impact in financial inclusion, technology and innovation, and the development of future tech leaders. This fund is sponsored by Nubank and managed by Sitawi and Phi, organizations dedicated to mobilizing and managing resources for such projects.

“By fostering access to quality higher education for young local talents, we can speed the process of these careers and future leaders, supporting innovative ideas that can actually come to life and be developed. At Nubank, we believe that innovation transforms society, and because of that, we invest in impactful initiatives for that purpose, especially through education,” said Guilherme Vieira, ESG director at Nubank.

The first initiative that will be part of this effort is Beca Tech in Colombia, which aims to facilitate access to high-quality undergraduate programs in science and technology for youth. Starting in January 2024, the first selected students will enter some of the country’s top universities to begin their careers in Computer Science.

Local Initiatives

Colombia: Designed and managed by the VeR+ Foundation, Beca Tech is a program that will provide financial, academic, personal, and professional support to undergraduate students throughout the 5-year duration of their studies.

“In a context where 65% of children entering primary school in 2016 will work in professions that do not yet exist, at Nu, we recognize the importance of helping this generation prepare for the challenges of tomorrow. We firmly believe that technology is playing – and will increasingly play – a fundamental role in the transformation of diverse industries, which is why we must help the country’s young talent to lead the future of technology,” said Marcela Torres, General Manager of Nu Colombia.

The VélezReyes+ Foundation has completed the scholarship application process, which is currently closed. The students participating in the program will be announced in mid-December 2023 and begin their first semester in January 2024.

Brazil: The programs in the country will be carried out by two institutions supported by Instituto Phi. The first, Fundação Estudar, through the Tech Fellow program, will offer, besides scholarships for undergraduate students in the best universities of Brazil and the world, mentorships with tech leaders, personalized support, and connections with potential investors and industry experts. To join the program, applicants must have Brazilian nationality and be actively enrolled or in the process of admission to an undergraduate program focusing on technology-related courses such as Computer Science and Software Engineering or related fields.

The Lemann Foundation, through Alcance, will also run a program in Brazil, focusing on master’s degrees and supporting students to pursue master’s programs in STEM (Science, Technology, Engineering, and Mathematics) related to social impact areas in the United Kingdom. This is a co-investment with the Chevening Foundation, an international scholarship program by the UK government with a network of over 50,000 former scholarship recipients worldwide. The scholarship covers all student expenses, including university tuition, housing, travel, and visa fees. The selection and approval process announcements for both Estudar and Lemann programs are expected to happen throughout 2024.