Students from SMU and the Singapore Maritime Academy at the Singapore Polytechnic will be offered the MaritimeONE Scholarship Programme administered by the Singapore Maritime Foundation (SMF). Two undergraduate students who embark on the newly launched Maritime Economics Concentration at SMU will each receive S$10,000 per annum in their third and fourth year of undergraduate studies. SMU welcomed its first cohort of students for the Concentration at the start of the new academic year in August 2013. The programme, which allows undergraduates with a first degree in economics to specialise in maritime disciplines, aims to groom local talent for the maritime and related sectors in Singapore.