State Scholarships Foundation (IKY), one of the most historic organizations in the country, was founded in 1951 aiming to offer young scientists grants for post-graduate studies, abroad and within Greece, in order to broaden their horizons, utilize their skills and offer better services to the society. Remarkable spiritual people, such as  C. Ventiris , A. Delmouzos , O. Zolotas , G. Pesmatzoglou, A. Angela and  K.G. Dimaras have played an important role in the organization and function of the Foundation.

From 1951 to date, IKY designs, promotes and implements amplitude of scholarship programmes, both in Greece and abroad. Through these programmes Greek citizens, foreigners of Greek origin, people of different nationalities, pupils, students, scientists, researchers and artists receive grants in order to acquire higher diplomas in Greece or abroad and to stand out scientifically and professionally.

Since 1987, IKY bears the responsibility of administration, co-ordination, implementation and dissemination of European Union Programmes for Education (1987 Erasmus, 1990 Lingua, 1995-1999 Socrates I, 2000-2006 Socrates II-Lifelong Learning Programme 2007-2013). Continuing this tradition, in 2014 IKY was appointed as National Agency for the new European Union Erasmus+ Programme.

In the 68-year presence of IKY, hundreds of thousands of scholars have been funded for their education and studies. Many influential members of Greek society were IKY scholars such as Giorgos Zongolopoulos, Mikis Theodorakis, Panagiotis Tetsis, Gerasimos Sklavos, Dimitris Mytaras, Costas Tsochlis, Theodoros Papagiannis and many other charismatic personalities. 

The Foundation also collaborates with European Associations (DAAD, CERN, European Institute of Florence, the Hellenic College Holy Cross etc.) for the common development of programmes enhancing research mobility as well as policies in the field of international co-operation.Due to its prestige, IKY was honored with the offer of great legacies in order to manage the proceeds of their bequests, offering scholarships for studies in Greece and abroad.

It should be noted that, IKY is a member of the EFQM Community since 2014 and it it is the first Public Sector Service which was honored with the "EFQM Recognized for Excellence- 3 Stars" award in accordance with the world-recognized EFQM Excellence Model. This achievement indicates that despite the economic and social challenges of the era, IKY manages to envision, evolve and upgrade the quality of its services.

IKY is located in Leoforos Ethnikis Antistaseos 42, Nea Ionia.

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