Universal Technical Institute Inc. (NYSE:UTI) Ties Up With TV Host Mike Rowe
Universal Technical Institute, Inc. (NYSE:UTI) has tied up with mikerowe WORKS organization to set up a revolving fund which would have a seed capital of $1 million to serve as a funding mechanism for deserving students who are keen to pursue higher studies in the field of niche automotive technologies.
The fund will cover course fee and related expenses of the chosen students for courses offered in the five technical institutes of “Universal Technical Institute, Motorcycle Mechanics Institute, Marine Mechanics Institute and NASCAR Technical Institute and PR Newswire Universal Technical Institute, Inc.” The scholarships will be offered under the auspices of “mikeroweWORKS Foundation (MRW)/UTI Scholarship Program”. The program hopes to create huge bench strength of local technically trained non engineering degree holders who will further augment the acute staff crunch being faced in the transportation sector.
Mike Rowe’s Initiative
The program came about when one of prominent TV channel show host and producer Mike Rowe who has gained popularity as the host of a reality show wanted to help address the acute shortage of skilled workforce in the industry who are not necessarily engineers by qualification, but do hold a technical course which would equip them to take on skill specific job rolls in the industry.
Background To The Fund Formation
Commenting about the huge $1 million purse set aside for this skill development program, Kimberly McWaters who is the Chairman and CEO of Universal Technical Institute, Inc. (NYSE:UTI) has been quoted to have said that, “We are thrilled to partner with the mikeroweWORKS Foundation and join Mike’s mission to spread the word about the importance of technical education and filling jobs in the skilled trades. This new scholarship program provides hard-working men and women across the country with the opportunity to follow their passion and obtain careers in the transportation industry, where the demand for technicians continues to rise.”