Nimra Dar, Manpreet Deol, Aditya Mohan, Aishwarya Roshan and Simranjeet Singh are awarded the scholarships which are entrance awards for high school graduates enrolling in science, technology, engineering or mathematics (STEM) undergraduate programs at participating universities in Canada and Israel.
Dar and Deol will utilise their scholarships to pursue engineering programmes, while the other three students will use it to study science courses, schulichleaders.Com reported.
"I have always strived to challenge myself and push my boundaries," said Simranjeet Singh who recently graduated from Bedford Road Collegiate and will use his 60,000 dollars award to pursue a physiology and pharmacology degree.
The scholarship is awarded to the most promising students in Canada and Israel to encourage them to embrace STEM in their future careers.
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Of the 50 scholarships, 25 scholarships worth 80,000 dollars each are designated for students pursuing an engineering degree, while the rest - valued at 60,000 dollars each - are for students studying science, technology or maths.
The scholarships were created by Canadian business leader and philanthropist Seymour Schulich in 2011.
"It is immensely important to invest in the next generation of technology innovators as they develop and hone their minds and skills to contribute to our national and global community," Schulich said.
So far, 170 scholarships worth 11 million dollars have been awarded across the country.