Five Minutes with a Corporate Fund Advisor: Rambus' "Innovator of the Future" Scholarship Program

As college acceptance letters arrive daily in students’ mailboxes, Silicon Valley Community Foundation plays an active role in helping hundreds of these students receive academic scholarships. But individual fund advisors aren’t the only ones with scholarship programs; our corporate partners also award over 60 students annually who show promise and recognize the importance of their ongoing education. We took some time with Rambus, a company that believes in the power of education and technology to create change, to learn more about its corporate “Innovator of the Future” scholarship program. The chair of this program, Steven Woo, shares his thoughts.

Describe the mission of the “Innovator of the Future” scholarship.

The Rambus “Innovator of the Future” Scholarship seeks to broaden the educational opportunities of students who, by virtue of their academic and extracurricular achievement, demonstrate a passion for science and technology that extends beyond the classroom. We look for candidates that possess strong leadership and communication skills as well as the desire to positively impact society through innovation in science and technology.

How did the scholarship program begin and what is Rambus’ commitment to impacting the community through support for higher education?

When we began our community outreach efforts, we were looking to give back to the community in a way that combined our high regard for education with our company’s history and drive to innovate in science and technology. We felt that a college scholarship program, and in particular one focused on students with a passion for science and technology, would be a great way to do this. Now in its fourth year, the Rambus scholarship program has gained great momentum and allowed us to invest in math, science and technology programs that encourage the gifted innovators of tomorrow.

What criteria do you use to select winners?

Students submit a written application, essays, a letter of recommendation and transcripts. After reviewing the written applications, up to six finalists are chosen and interviewed. Applicants are judged based on academic achievement, leadership skills, communication skills, passion for science and technology and the desire to positively impact society.

How does Rambus partner with Silicon Valley Community Foundation to support your scholarship program?

The community foundation provides overall support so that the scholarship fund is meeting its purpose, provides oversight to ensure that the scholarship is compliant with IRS regulations and disburses the scholarship funds to the institution where the recipient will attend. The community foundation also oversees the renewal process for previous scholarship recipients, ensuring that the students are meeting the renewal requirements and working directly with financial aid offices when issues arise.

Participation on the scholarship committee is a special way to engage Rambus employees. How have you identified employees to support the program?

When considering scholarship committee participants, we look for employees with backgrounds that enhance the diversity of the committee, and choose individuals who represent various organizations across the company. This diversity helps us to review applications from a variety of viewpoints. What ties us all together is our very high regard for education and our commitment to give back to our community. It’s really been a pleasure being the chair of this program and to collaborate with the many Rambus employees that have volunteered their time since the program’s inception four years ago. Katy Mossawir, scholarship committee member, says, “Being a member of the scholarship committee for the last four years has been extremely rewarding. After reading applications from so many talented students, I finish each year’s program inspired and energized.”

What is the most rewarding aspect of serving as chair of the “Innovator of the Future” scholarship program?

There have been several rewarding aspects, so it’s really hard to choose just one. When I was a high school senior, a couple of my friends and I were fortunate enough to receive scholarships or financial assistance that opened up educational opportunities that we might not otherwise have been able to pursue. Looking back and realizing the impact this has had on our lives, it’s been particularly rewarding to be part of a program that can offer similar opportunities to local high school students. To date, we’ve awarded close to $100,000 to 20 deserving students. It’s been especially rewarding to see so many talented applicants, and to get to meet a number of them in person during the interview process. I’ve also really enjoyed working with all the committee members, many of whom I would not normally get the opportunity to work with on a regular basis.