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The Fellowship was founded in 2009 following the Global Irish Economic Forum. It was identified that Ireland has vast opportunities to grow its business interests in Asia but lacks sufficient numbers of qualified professionals on the ground. On returning to Singapore, discussions were held on how best this vacuum could be filled to both enhance and enable the growth of Ireland’s business interests across Asia. The result was the Farmleigh Masters in Asian Business (MBS) which we believe can help bridge this gap in a practical and meaningful way and help make the Asian marketplace of the future as real and as relevant to people’s lives in Ireland, as America and Europe are today.
The Farmleigh Fellowship comprises of a Board of Directors with one chairperson and four board members and a Programme Manager who reports to the Board of Directors.
The Farmleigh Fellowship is a not for profit charity organisation based in Singapore and is co-funded by a partnership between the Irish Government and Industry.
What is the Masters in Asian Business (MBS)?
The MBS is awarded by University College Cork (UCC) in partnership with Nanyang Technological University (NTU) in Singapore.
This scholarship funded programme covers the cost of tuition at UCC and NTU, one return flight from Dublin to Singapore, international travel & health insurance, health checks and student visas (Valued at approx €30,000 per participant). While on the Programme, participants will have to cover their ownaccommodation and day to day living costs in Ireland and in Singapore. Accommodation and travel costs for participants who undertake work-placements or business trips outside of Singapore will be paid for by the sponsoring company.
How is the 1-year MBS Programme structured?
- Two weeks of company familiarisation in Ireland
- Three months of university placement in The School of Asian Studies (UCC)
- Three Months of university placement in Nanyang Business School (NTU)
- Five Months of industry placement in Asia
- 20 hours of mentorship from a business mentor from the Irish Diaspora
- Reporting of milestones throughout the course at scheduled times
- Concludes with end of programme wrap up and presentation of Industry Reports to sponsors and the Universities
Can you explain how much it costs for one Farmleigh students to go through the Fellowship programme?
With government and private support, companies are required to pay €20,000 for each fellow they support. This covers the costs of tuition, transport, insurance and graduation. Living expenses are covered by the students themselves except when their sponsoring companies may choose to send them on business trips.
What is the funding model for the Farmleigh Fellowship?
The FF is funded through a mixture of government grants, private donations and company sponsorship. In addition, they Fellows support their own living expenses during the program. In this way, the program is a partnership between government, industry and the individual.
How much does the student have to personally invest in the programme?
The students are responsible for accommodation and day to day living costs for their time in Ireland and in Singapore, approximately 1,200 euro to 1,600 euro per month over the course of the year. Accommodation and travel costs for participants who undertake work-placements or business trips outside of Singapore will be paid for by the sponsoring company.
What is the longer term strategy of the Farmleigh Fellowship?
The longer terms strategy of the FF is to create a cohort of Irish business executives with lasting ties to Asia. It is hoped that this will enable stronger economic and cultural ties in the future, similar to those we already hold with more established regions. It is also hoped that these executives will be in a position to promote Ireland and Irish companies with their Asian colleagues when the opportunity arises.