SINGAPORE - Micron Technology Foundation, a non-profit organisation set up by semiconductor company Micron Technology to promote science, technology, engineering and math education, has set up a $206,000 endowment for engineering students from the Nanyang Technological University (NTU).

With matching funds from the Government, the total endowment will be $500,000.

On Thursday, the foundation said that it would give awards using the endowment each year to two science and engineering NTU students in their third and fourth years of study.

It has worked with NTU during the past decade on more than a dozen grants and awards, which amount to an additional $287,000.

The foundation's executive director, Ms Dee Mooney, said: "With this endowment, Micron builds on our relationship with NTU as we collectively strive to help develop the next generation of engineers.

"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."