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The Goldman Sachs Foundation Awards $3.6 Million in Grants to Support Teaching Excellence, College Access Programs and Social Entrepreneurs in Europe.

NEW YORK -- The Goldman Sachs Foundation today announced $3.6 million in grants to support the academic and leadership development of promising young people and the teachers who work to educate them, as well as funding for outstanding European social entrepreneurs in the fields of education and youth development.

The new grants include programs aimed at improving access to selective colleges and universities in the United Kingdom for academically promising students from underrepresented and disadvantaged backgrounds, support for social entrepreneurs in France and Germany seeking to spark change in improving educational opportunities for young people, and funding for programs that improve the quality of public school teaching.

Stephanie Bell-Rose, President of The Goldman Sachs Foundation, commented: "The Goldman Sachs Foundation is committed to supporting the development of the next generation of leaders from all parts of the world. We are proud to work with education innovators to improve the quality of education these young people receive and to open the doors of opportunity to bright minds that might otherwise go overlooked."

The grants announced today will benefit young people in Europe and the United States:

* $1,200,000 to the University of Cambridge to support an innovative college preparatory program providing mathematics enrichment for high-potential students from underrepresented disadvantaged backgrounds and professional development opportunities for teachers.

* $1,100,000 to Ashoka to help launch its inaugural program in the United Kingdom and expand its newly established program in France and Germany by supporting dynamic social entrepreneurs in the field of education and youth development with financing, a broad range of support sources for business planning and access to a global network of Ashoka alumni and resources.

* $500,000 to the Chicago Public Education Fund to help increase and measure the impact of its teachers on student achievement by strengthening the quality and range of professional development opportunities.

* $500,000 to the University of California, Santa Cruz to develop and implement a pilot eMentoring program to support new math teachers, in underserved schools in the United States.

* $300,000 to Prep for Prep and $75,000 to The Steppingstone Foundation to enable sharing of knowledge and best practices across college access programs that target high-potential young people from underrepresented backgrounds. The grant funds will enable the two organizations to collaborate in implementing a series of workshops for sharing of best practices among college access programs and develop a national coalition of like-minded programs working to provide education opportunities for these students.

About The Goldman Sachs Foundation

The Goldman Sachs Foundation is a global philanthropic organization funded by The Goldman Sachs Group, Inc. The Foundation's mission is to promote excellence and innovation in education and to improve the academic performance and lifelong productivity of young people worldwide. It achieves this mission through a combination of strategic partnerships, grants, loans, private sector investments, and the deployment of professional talent from Goldman Sachs. Funded in 1999, the Foundation has awarded grants of $94 million since its inception, providing opportunities for young people in more than 20 countries.
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Publication:Business Wire
Date:May 8, 2007
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