The foundation's chairman, Ng Ser Miang, said the scholarships aim to nurture young and aspiring sporting talent in Singapore.
SOF received pledges for more than S$12 million, including S$10 million from billionaire Peter Lim. S$5.2 million has been collected so far.
Mr Ng, who is also vice-president of the International Olympic Committee (IOC), said: "We are looking at between S$2,000 and S$20,000 for the very top end. And again (it) will be (for) students or young athletes from primary school, secondary school, and tertiary education as well."
The selection process will be in stages till August this year, right after the school championships for more new talent to be spotted.
Mr Ng said a maximum of S$800,000 in scholarships will be disbursed each year over the next 10 years.
ORIGINAL SOURCE
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