# Varkey Foundation
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{{Short description|Nonprofit arm of GEMS Education}}
{{Use British English|date=May 2015}}
{{Use dmy dates|date=May 2026}}
{{Infobox organization
|name = Varkey Foundation
|logo = Varkey Foundation logo.jpg
|type = Charitable foundation
|formation = {{Start date and age|2010||}}
|founders = [Sunny Varkey](/source/Sunny_Varkey)
|headquarters = [London](/source/London), United Kingdom[[http://www.britishexpertise.org/bx/pages/Organisation_view/4090.php The Varkey Foundation]. British Expertise. Retrieved 2 August 2015.][[https://edition.cnn.com/videos/international/2014/10/06/spc-inside-africa-ghana-girl-power-c.cnn "Strength of Ghanaian women"]. ''[CNN](/source/CNN)''. ''Edition.CNN.com'' (video). 6 October 2014.]
|key_people = [Sunny Varkey](/source/Sunny_Varkey)
{{small|(Chairman)}}
|region_served = Worldwide
|purpose = Education, teacher training
|method =
|revenue =
|endowment =
|total grant commitments since 2010 =
|total 2015 grant payments =
|num_employees =
|owner =
|former_name = Varkey GEMS Foundation
|website = {{URL|http://varkeyfoundation.org}}
}}
The '''Varkey Foundation''', initially the '''Varkey GEMS Foundation''', is the nonprofit arm of [GEMS Education](/source/GEMS_Education), an education management company.[Abrioux, Marc and Jill Rutherford. [https://books.google.com/books?id=D1UGVo8AI2AC&pg=PT128 ''Introducing the IB Diploma Programme'']. Cambridge University Press, 2013. p. 118.] It was formed in 2010 by Indian businessman [Sunny Varkey](/source/Sunny_Varkey), GEMS chairman.[[https://www.forbes.com/profile/sunny-varkey/ Sunny Varkey] – Profile at ''[Forbes](/source/Forbes)''. Retrieved 7 May 2015.]
The Varkey Foundation has partnered with a variety of major global organizations including [UNESCO](/source/UNESCO), [UNICEF](/source/UNICEF), and the [Clinton Global Initiative](/source/Clinton_Global_Initiative). It gives out the Global Teacher Prize, a {{currency|1|USD}}{{nbsp}}[million](/source/million) award.
==History==
The foundation was formed by [Sunny Varkey](/source/Sunny_Varkey) in 2010 as the philanthropic arm of [GEMS Education](/source/GEMS_Education), and was initially called the Varkey GEMS Foundation. Its stated intention is to impact 100 impoverished children for every child enrolled at GEMS schools.[[https://www.varkeygemsfoundation.org/projects Varkey GEMS Foundation – Projects] {{Webarchive|url=https://web.archive.org/web/20141109012526/https://www.varkeygemsfoundation.org/projects |date=9 November 2014 }}. ''VarkeyGEMSFoundation.org''. Retrieved 7 May 2015.][[https://web.archive.org/web/20160222222833/https://www.highbeam.com/doc/1G1-244246171.html "Gems launches new education initiative"]. ''[Trade Arabia](/source/Trade_Arabia)''. 13 December 2010.] [Bill Clinton](/source/Bill_Clinton) was involvement at the official launch of the foundation.[Hamdan, Sara. [http://issuu.com/global-citizen/docs/global-citizen-09 "Building an Education Empire"]. ''Global Citizen''. July/August 2012.][George, Joseph. [http://www.emirates247.com/news/emirates/bill-clinton-launches-varkey-gems-foundation-2010-12-13-1.328657 "Bill Clinton launches Varkey GEMS Foundation"]. ''[Emirates 24/7](/source/Emirates_24%2F7)''. 13 December 2010.]
[Sunny Varkey](/source/Sunny_Varkey) is chairman of the Varkey Foundation. The foundation's trustees are Sunny Varkey, as well as his sons Dino and Jay Varkey.[[https://www.varkeyfoundation.org/about/governance Varkey Foundation – Governance]. ''VarkeyFoundation.org''. Retrieved 20 June 2015.]
The foundation has a Teacher Training Programme in under-served communities.[[http://www.zawya.com/story/Dubai_Cares_partners_with_Varkey_GEMS_Foundation_to_train_and_develop_teachers_across_the_developing_world-ZAWYA20140316130416/ "Dubai Cares partners with Varkey GEMS Foundation to train and develop teachers across the developing world"]. ''[Zawya](/source/Zawya)''. 16 March 2014.][Coughlan, Sean. [https://www.bbc.com/news/business-32397213 "The man behind the million-dollar teacher"]. ''[BBC News](/source/BBC_News)''. 5 May 2015.]
In 2013, the foundation launched the annual Global Education and Skills Forum,[[https://educationandskillsforum.org/ Global Education & Skills Forum] {{Webarchive|url=http://webarchive.loc.gov/all/20150326173949/https%3A//educationandskillsforum.org/ |date=26 March 2015 }}. Retrieved 7 May 2015.] in partnership with [UNESCO](/source/UNESCO) and the UAE Ministry of Education.[Buller, Alice. [http://gulfbusiness.com/2013/07/full-excusive-interview-gems-chairman-sunny-varkey-talks-profits-and-philanthropy/ "Exclusive Interview: GEMS Chairman Sunny Varkey Talks Profits And Philanthropy"]. ''Gulf Business''. 3 July 2013.] Bill Clinton gave the inaugural keynote address at the 2013 summit.[Prois, Jessica. [http://www.huffingtonpost.com/2013/03/15/bill-clinton-global-education-and-skills-forum_n_2883435.html "Bill Clinton: Educating Underserved Girls Is 'Deeply Human Drama' Of This Century"]. ''[Huffington Post](/source/Huffington_Post)''. 15 March 2013.]
In October 2013, the foundation published the Global Teacher Status Index,[Gupta, Amita. [https://books.google.com/books?id=_CxzAwAAQBAJ&pg=PA150 ''Diverse Early Childhood Education Policies and Practices: Voices and Images from Five Countries in Asia'']. Routledge, 2014. p. 150.][Coughlan, Sean. [https://www.bbc.com/news/education-24381946 "Teachers in China given highest level of public respect"]. ''[BBC News](/source/BBC_News)''. 14 October 2013.] a 53-page study on the public and social status of teachers in 21 countries around the world.
=== Global Teacher Prize ===
{{Main|Global Teacher Prize}}
In order to raise the status of teaching, at the second annual Global Education and Skills Forum in March 2014, the foundation launched the Global Teacher Prize, an annual $1 million award to an exceptional teacher who has made an outstanding contribution to the profession.[[https://educationandskillsforum.org/press-release-applications-open-for-worlds-first-one-million-dollar-teacher-prize/ "Applications open for world’s first one million dollar teacher prize"] {{Webarchive|url=https://web.archive.org/web/20160515021533/https://educationandskillsforum.org/press-release-applications-open-for-worlds-first-one-million-dollar-teacher-prize/ |date=15 May 2016 }} (press release). ''EducationandSkillsForum.org''. March 2014.]
==References==
{{reflist|2}}
==External links==
*[https://www.varkeyfoundation.org/ Varkey Foundation] – Official site
*[http://webarchive.loc.gov/all/20150326173949/https%3A//educationandskillsforum.org/ Global Education & Skills Forum]
{{DEFAULTSORT:Varkey Foundation}}
Category:Organizations established in 2010
Category:International educational charities
Category:Child education organizations
Category:Educational foundations
Category:Educational charities based in the United Kingdom
Category:Foundations based in the United Kingdom
Category:Global Teacher Prize
Category:2010 establishments in the United Kingdom
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Adapted from the Wikipedia article [Varkey Foundation](https://en.wikipedia.org/wiki/Varkey_Foundation) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Varkey_Foundation?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.