yesterday announced the launch of its 1997 education awards programme.

The programme, in its 18th year, awards $10,000 scholarships spread over two years to students from Bermuda for their university education.

Last year, 20 students benefited from over $200,000 -- the largest single year amount raised so far -- donated to the programme by international companies.

There are about 170 international companies in the Chamber.

This year, the campaign was given a huge start thanks to an initial $25,000 donation by Harrington International Insurance Ltd.

Harrington's cheque is the largest single donation ever made to the programme.

This year's campaign seeks to build up the ICD's position as one of the largest privately funded scholarship schemes operating in the Country.

Scholarship awards are based on not only academic ability but also a student's proven financial need.

Candidates for the awards are encouraged to pursue a career in international business and jobs essential to the Island's infrastructure.

International Companies Education Awards committee chairman Harry Wilken said there may be an incorrect perception that these scholarships are for students wanting to pursue a career in insurance.

"International business should be seen in its widest context and not simply the major players in the insurance, banking and financial sectors,'' he said.

"Information technology and telecommunications engineering are just two areas which also have a considerable impact on international business. I would hope young students in Bermuda will see the wider aspects on offer and apply accordingly.'' Successful candidates become "named scholars'' of ICD companies.

"I know of many of our scholars who keep in touch with their named companies which in turn provide advice, holiday employment and, on occasion, a kick start in their career once qualified,'' said Mr. Wilken, who is also president of Jardine Matheson International Services Ltd.

Students can apply through the chamber or Bermuda College. The deadline for application is May 16 with recipients informed in June.

Harrington chief operating officer Peter Fallon said the programme is "critical'' to the success of the individual and to Bermuda.

Harrington, set up 18 months ago, is a joint venture between Swiss Re and Winterthur.

Harrington, which provides reinsurance for captive insurance companies, was a leading donor to the 1996 scholarship scheme.

SCHOLARSHIP PROGRAMME -- International Companies Division of the Chamber of Commerce awards committee chairman Harry Wilken (left) and Harrington International Insurance chief operating officer Peter Fallon kick off the ICD's scholarship programme yesterday.

BUSINESS BUC CLUB CLB