ABU DHABI // Abu Dhabi Crown Prince Court has launched a fellowship to support those interested in pursuing advanced studies in science, technology, engineering and mathematics – Stem subjects.
The McGill UAE Fellowships in Science and Engineering will invest in students who wish to undertake higher education at McGill University in Montreal, Canada. The first McGill UAE Fellowships will be awarded in January next year.
Subsequent selections will take place in September of each year.
They will offer master’s and PhD students scholarships to pursue advanced studies in any discipline within the faculties of science and engineering at McGill University.
Each McGill-UAE fellow will receive funding to cover tuition and living expenses.
Fellows will also receive additional support to participate in extracurricular learning opportunities, such as industry internships, collaboration with researchers or work with mentors on entrepreneurial ventures.
“We are grateful to the Crown Prince Court for their vision and generosity, which will open our doors to some of the brightest young minds from the Emirates,” said Christopher Manfredi, McGill’s dean of arts and incoming provost.
“As Canada’s most international university, global partnerships are at the heart of McGill’s mission and success.
“We look forward to building stronger ties with the UAE, and to helping train a new generation of leaders in science, engineering and other disciplines whose contributions will benefit societies and economies in the Emirates and in Canada,” said Mr Manfredi.
newsdesk@thenational.ae
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How Tesla’s price correction has hit fund managers
Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.
It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.
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A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.
Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.
Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.
Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.
By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.
Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.
In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”
Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.
She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.
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