FOUNDER OF 'ROOM TO READ' LAUNCHES 'U-GO'

Driven by the deep belief that "Talent is Universal. Opportunity is Not",John Wood's new venture will help economically-disadvantaged young women across the developing world to attend university by providing financial scholarships.

Funded by donors in high-income countries,U-Go's academic scholarships will transform the lives of promising students by helping them to realise their academic potential.

U-Go has already achieved enough grant commitments to support 1,000 scholars in its first year (2022)

HONG KONG,Feb. 7,2022 -- Today,John Wood,Founder of Room to Read,announces the global launch of his new venture – U-Go,a non-profit that will help thousands of talented young women in the developing world to attend university.Funded by individuals and corporations in high-income countries,the single-focus NGO will empower ambitious and promising young women in low-income countries,including Bangladesh,Cambodia,India,Indonesia,Pakistan,and Vietnam,to pursue higher education and increase their earnings for themselves,their families,and their communities.

"Talent is Universal. Opportunity is Not – these six words have driven me to build U-Go,my next venture after Room to Read,"said John Wood,Founder of U-Go. "U-Go aims to lift the systemic barriers that hinder young women from achieving higher education. The organisation will be laser-focused on helping young women for as long as there is a gender gap."

Through a locally-led approach,U-Go will partner with established and trusted local NGOs on the ground to unleash the young women's potential,training more teachers,doctors,or entrepreneurs through mentorship programmes,career development,and life skills training alongside financial scholarships to provide educational support to young women.

De-randomising Academic Opportunities for Women in the Developing World

The lowest income countries have the lowest rates of university attainment,and those limited opportunities that exist are more likely to benefit men than women. Disproportional education rates between women and men contribute to wider issues such as the existing earning gaps in low-income countries. For instance,women in Vietnam earn on average 3 million dong less per year than men,approximately one month's income[1].

Overall,in these countries the cards are stacked against young women.When there are opportunities to attend university,they overwhelmingly go to men. World Bank data shows that young men are over 50-60% more likely to attend university than young women in Nepal,Bhutan,and Bangladesh. Young women in low-income countries are lagging far behind their counterparts in wealthier countries in terms of university attainment rate. The average university attainment rate of women in Tanzania,Bangladesh,Vietnam is less than 10%,30% less than the average rate of Norway,the US,and the UK[2].

U-Go calculates that the cost of sending a young woman in their programme to university is USD $800. For the price of one year of tuition at a private university in the U.S.,around 100 young people in low-income countries could also attend university. By providing financial assistance,U-Go will help to remove the systemic barriers that hold women back,and work towards de-randomising academic opportunities.

U-Go will Change the Life of Young Women,Empower Families and Communities to Grow and Thrive

Educating young women creates a far-reaching positive ripple effect for their families and their wider communities. Women are more likely to share their dispensable income with their family,raising the overall living standard of their households,and eventually lifting up future generations of their families. A report by Mary Ellen Iskenderian for the Harvard Business Review indicates that when a woman earns income,she invests 90 percent of that income into her family,compared to 35 percent on average among men[3].

A report published by the Asian Development Bank reveals that by closing the gender gap,the overall workforce could generate a 30% increase in the per capita income of an average Asian economy in one generation[4]. By empowering more young women,U-Go aims to increase economic diversification and income equality,professionalizing the workforce and gradually creating a pipeline of talent in developing countries.

A Helping Hand Out of Poverty

U-Go builds on two decades of success and valuable learnings from Room to Read,a global organisation focused on children's literacy and girls' education. Founded in 2001,the NGO has opened more than 46,000 libraries in twenty low-income countries,extending a lifelong gift of education to more than 23 million children. Room to Read has flourished thanks to the support of its dedicated network of donors,supporters and fundraising chapters worldwide. The impact that Room to Read has made has earned international recognition including the UNESCO Confucius Prize for Literacy,Award for Social Entrepreneurship by the Skoll Foundation,and the David M. Rubenstein Special Response Award of the Library of Congress Literacy Awards Program.

Departing Room to Read in December 2021 to found U-Go,John Wood explained: "U-Go will address a dramatically large void in the education space. It will build the next 'social ladder' and empower more young women,creating a far-reaching ripple effect to their families and the wider communities."

A World-Class Team of Founding Board Members and Partners

John is joined by an esteemed panel of founding board members,including Patricia Horgan,Archana Parekh,Anne Patricia Sutanto,Benjamin Happ,Nicholas Nash,and Tim Caflisch.

"With a global team of founding board members,local NGO partners,and volunteers,U-Go has the capability to create direct,positive,and significant impact for young women in developing countries,from day one of our launch. Through building a global alliance of passionate individuals,we will make more dreams a reality going forward",said John Wood.

U-Go envisions a world which millions of young women in low-income countries have the opportunity to pursue higher education. Starting from year one,the goal is to offer "year one" financial scholarships,with renewal contingent upon achieving promising academic performances,and family and community co-investment,helping ambitious and promising young women in low-income countries to pursue university education.

About U-Go

U-Go is a non-profit organisation that aims to help ambitious and promising young women in low-income countries to pursue higher education by providing financial scholarships funded by individuals and corporations in high-income countries. U-Go partners with world-class non-governmental organisations operating across the developing world to provide all-rounded support to young women,including mentorship programmes,and life skills training alongside financial scholarships. U-Go aims to change the life of young women as well as to enrich their families and wide communities. For further details,please visit https://ugouniversity.org/home.

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[1]Chowdhury,I.,Johnson,H.,Mannava,A.,Perova,E. (2018). Gender Gap in Earnings in Vietnam: Why Do Vietnamese Women Work in Lower Paid Occupations? The World Bank East Asia & Pacific Gender Policy Brief Issue 2.

[2]United Nations Development Programme. (2020). Human Development Reports. Retrieved from http://www.hdr.undp.org/en/indicators/63406#.

[3]Iskenderian,M. (2011). Banking on Women and Girls: Key to Global Poverty Alleviation. Harvard Business Review.

[4]Asian Development Bank. (2015). Women In The Workforce: An Unmet Potential In Asia And The Pacific.