The Indian School of Business (ISB) – Hyderabad on Tuesday announced the doubling of its student scholarships from Rs 4 crores to rupees 8 crores for the incoming PGP class of 2013.

“Through this increased outlay, one in every seven students studying at the school will receive scholarships of 25% to 50% of the total tuition fee. The scholarships will be awarded on both merit and financial need basis to outstanding students, selected on the basis of exceptional academic and professional performance as well as personal qualities such as leadership, integrity, and community service,” said an ISB press statement.

Additionally, a special scholarship for entrepreneurs would foot their education loan EMIs for up to a period of two years. Called the Develop India scholarship, it would be awarded to “Aspiring entrepreneurs whose ideas are being incubated under the Entrepreneurs Development Initiative (EDI) at the Wadhwani Centre for Entrepreneurship Development (WCED) of the ISB,” said the statement.

These scholarship add to the existing bouquet of scholarships on offer at ISB through organizations such as the Citi Foundation, Novartis, IBF, Talentia, La Caixa and Casa Asia.