Dr Wasim Abbas Shaheen, Assistant Professor, School of Management Sciences, Quaid-e-Azam, University, Islamabad. Ph.d from University of International Business and Economics, Beijing, China. He asked about Commercialization of Innovations, Investment Management, Financial Analysis and Planning. A scholarship is financial support awarded to a student, based on academic achievement or other criteria that may include financial need, for the purpose of schooling. There are various types of scholarships – the two most common being merit-based and need-based.