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Education is crucial to ensuring growth and prosperity in our society. For this reason, the promotion of young talent, science, and research is of great importance to Deutsche Bank. For years, we have attempted to instill in children and young people around the world the importance of learning and the value of a good education.
Last year, our investment in the area of education was around € 25.5 million. All of our educational projects focus on helping to identify and enable talent across all disciplines. We also promote excellence in academic research and teaching.
Our ideas for helping young people, as different as they might appear, have the same goal: to create more equality of opportunities. In essence, we challenge them to overcome personal barriers and pursue a quality education. Many young people have unexplored talent; the challenge is to tap into it. Our efforts begin with a commitment to educational goals that are focused on three areas: inter-cultural, cultural, and financial education.
Intercultural education
According to a study by the German Federal Ministry of Education and Research, the number of young students from disadvantaged, often migrational backgrounds in Germany continues to drop and is very low compared with other countries. Many of them are never given the chance to develop their talents and capabilities. Consequently, society fails to appreciate their potential. To counter this development, Deutsche Bank Foundation launched the “Compass of Studies” initiative, which helps young people like Philipp Paysen pursue a university degree. The program was founded in 2007 by Deutsche Bank Foundation together with the Accenture Foundation and the Foundation of German Business ("Stiftung der Deutschen Wirtschaft"). It specifically targets young people from non-academic environments to earn a university degree. Over a three-year period, they receive individual assistance. During the last two years of schooling, mentors from the “Compass of Studies” program, often assisted by young university graduates at Deutsche Bank, help students choose the field of study best suited for them. After high school graduation, the mentors continue to assist them during their first two semesters of their university studies. In September 2008, the program welcomed its second class of 200 participants.
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Cultural education
Creativity and innovation drive social and economic development. Music and art enhance intellectual flexibility and personal performance. For this reason, we support a variety of cultural learning processes and educational opportunities aimed at helping young people discover their creativity and broaden their horizon. A prime example of our approach is Zukunft@BPhil. This highly awarded partnership, which we have had with the Berliner Philharmoniker for seven years, encourages young people to seek new challenges. Moreover, Deutsche Bank has enabled a first in the world of classical music – the “Digital Concert Hall” of the Berliner Philharmoniker. With initiatives like these, we are making education and culture more accessible to everyone worldwide.
Financial education
Young people need to learn how to handle money responsibly during their training or studies. The problem is that business topics are seldom part of school curriculums. Because knowledge of finance is an integral component of general education, Deutsche Bank Foundation launched the “Financial Literacy” project in 2005. This project enlists the support of Deutsche Bank employees who contribute their expertise in classrooms as “finance teachers” and share their perspectives on basic economic topics, such as savings accounts, loans, money management, and retirement funds. In addition, we provide teachers with instructional materials free of charge.
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