Global premium smartphone maker OnePlus on Sunday announced the launch of a scholarship fund - Never Settle- in association with the Indian Institute of Technology Madras, here.

The initiative is part of the brand's ongoing efforts to give back to the community in line with its 10th-anniversary milestone. The 'Never Settle' scholarship programmme will provide full financial scholarships to new and existing students of IIT Madras in the BTech course.

IIT Madras will manage the scholarship process and students will be selected as per merit cum means eligibility. The 'Never Settle' scholarship programme is committed to ease the financial burden of education by offering substantial scholarships to deserving students.

"Our community has been at the forefront of all our endeavors, actively shaping the brand since its inception 10 years ago. The support and enthusiasm we received during our first official community meet in India was instrumental in our decision to launch this in India," OnePlus founder Pete Lau said.

"As a tech brand, fostering continuous innovation is the most exhilarating part of our work. Our collaboration with IIT Madras holds immense significance as we embark on this meaningful venture together," he said.

IIT Madras is glad to partner with OnePlus for the 'Never Settle' scholarship, reinforcing our commitment to empowering future innovations in science and technology, IIT Madras Dean (Alumni and Corporate Relations) professor Mahesh Panchagnula said. "I thank the OnePlus leadership team for joining us in our efforts to enable a brighter educational landscape for India's youth," he added.