The endowment will be used to annually award two NTU students majoring in science and engineering who are in their third and fourth years. The Micron Foundation partners with educators worldwide in communities where Micron team members live, work and volunteer to help spark a passion in youth for science, technology, engineering and math. Micron has collaborated with NTU during the past decade on more than a dozen grants and awards totaling an additional $287,000 SGD.

"With this endowment, Micron builds on our relationship with Nanyang Technological University as we collectively strive to help develop the next generation of engineers," said Dee Mooney, Executive Director of the Micron Foundation. "Engineering is at the heart of everything we do at Micron, and it drives Singapore's vibrant high technology sector."

Professor Chen Tsuhan, Dean of NTU's College of Engineering said, "Our collaboration with one of the world's leading semiconductor companies clearly indicates NTU's strong links with industry not only in creating partnerships for research and innovation, but also in providing the best for our students."

"We continue to ensure that NTU's education remains competitive and at the highest of standards. At the same time, we also strive to support students in their academic endeavors, by equipping them with the optimism and confidence to overcome obstacles."

Along with undergraduate awards, the Micron Foundation awarded a $120,000 SGD grant to NTU in 2013 to fund a research project led by Associate Professor Ang Diing Shenp, from the School of Electrical & Electronic Engineering. His research aims to push the boundaries of electronic memory technologies by making it smaller and more efficient while at the same time, consuming less energy.

The establishment of the NTU endowment is one of several philanthropic activities that the Micron Foundation has engaged in during the year to support youth and honor Singapore's 50th anniversary celebration.