$82.3m LKY Centennial Fund launched to develop next generation of leaders

SINGAPORE – A fund with $82.3 million worth of donations was launched by Deputy Prime Minister and Finance Minister Lawrence Wong on Tuesday to support the development of Singapore’s next generation of leaders.

The Lee Kuan Yew Centennial Fund, set up by business leaders to mark the 100th birth anniversary of Mr Lee this year, will be used for educational initiatives to groom young people as visionary leaders, said the Ministry of Education (MOE).

The ministry will manage it under the Education Fund.

Among the initiatives is the Singapore Young Leaders Programme, also launched at the same time, that will bring together up to 1,000 student leaders every year for forums, a leadership course and engagement sessions with business leaders and government representatives.

Speaking at the Nanyang Polytechnic Auditorium on Tuesday at a launch event that included animations by the school’s students, Mr Wong said Singapore is fortunate to have had several outstanding leaders in its short history, foremost among them the late Mr Lee.

Together with his team, he had helped Singapore succeed despite the many challenges and setbacks the country faced in the early years of nation-building, said Mr Wong.

The minister said the pioneer generation of leaders were role models for those who came after them.

In the same vein,

he and his fourth-generation team

of People’s Action Party leaders – as well as leaders in the civil and private sector of the same vintage in their 40s and 50s – have also learnt from their mentors, who are in their 60s and 70s.

As he and his team prepare to take over from their predecessors, Mr Wong said, it is also time to start preparing the next generation of leaders – those who are in their 20s and 30s and in the institutes of higher learning.

“In this way, we can eventually pass on the torch of leadership to all of you, our future leaders. So, that is how we ensure effective leadership renewal and succession in Singapore, not just in politics, but also in business, in the civil service, across all fields,” he said.

“Generation after generation, we want to ensure effective leadership, (and) effective leadership renewal.”

Also present at the event were Minister for Education Chan Chun Sing, Minister for Manpower Tan See Leng and Minister for Culture, Community and Youth Edwin Tong, and the business leaders who contributed to the fund.

Mr Wong said the fund and the young leaders programme are being launched with a firm belief in the potential of Singapore’s youth.

One enduring lesson from Singapore’s founding generation of leaders is the importance of developing Singapore’s youth, so they can be the best versions of themselves, he added.

Besides the young leaders programme, the fund will also go towards expanding the Lee Kuan Yew Scholarship Awards, setting up the Lee Kuan Yew Post-Graduate Scholarship for Urban Greenery and Ecology, and supporting up to 1,000 Institute of Technical Education and polytechnic students from disadvantaged backgrounds “who demonstrate resilience and potential”, said MOE. 

The Government will provide a dollar-for-dollar matching of donations to the fund for up to $50 million, said Mr Wong.

He also shared his reflections on leadership with the 580 students from various institutes of higher learning who were present at the event.

First, he said, leadership is about character and courage, and a leader’s core values such as honesty, integrity and meritocracy will act as a moral compass to ensure he or she does not veer off course.

“There will always be temptations to take the more expedient path – to shade the truth, to distort the facts, to cut corners or to deflect responsibility...

“But if you have courage and character, you will resist those temptations and do the right thing,” he said.

He added that what is right may not always be popular and, from time to time, leaders will be required to make tough calls for the good of the team, organisation or country.

“You may sometimes ask yourself – why do I put myself through all of this thankless work, no one appreciates it. But the fact that leadership is hard should not make you retreat,” he told the young people.

“Because at the end of the day, you will find that the harder your journey, the greater the satisfaction you will derive from it.”

Second, Mr Wong said, leadership is about continuous learning; leaders are not gifted with innate talents that help them float to the top.

Rather, they need to put in the discipline and hard work to improve, and also seek candid feedback so that they can learn from their mistakes.

Lastly, leadership is about contributing to a cause that is greater than yourself, Mr Wong told his audience.

“We need a sense of commitment not just to our own ambitions and aspirations, but also to the greater good – for only then can we become servant leaders,” he said.

He promised that the Government would do its part to expand opportunities for young people to make a difference in issues they care deeply about, such as through the youth panels, where they can present their policy ideas to the Government and possibly even for debate in Parliament.

Calling on young people to step up for Singapore, he said: “To be clear, Singapore is not perfect – we have our shortcomings and flaws. But it is up to us to fix the flaws and make our country better.”

ITE College Central Year 2 student Sujaysharan Devakumar, 18, who is studying for a Higher Nitec in Financial Services, is among those who have been selected for the Singapore Young Leaders Programme this year.

He said he was looking forward to working with other young people to learn about their perspectives on issues affecting Singapore.

Those who want to contribute to the Lee Kuan Yew Centennial Fund can do so at

https://www.giving.sg/education-fund/lkycf_2023