I want to learn more so I would be able to contribute to growth of SME in our region, where this business school operates.
I think this is the most important idea. I suggest doing some research today to find out more about the SME in your region, and really make a plan for taking action. Make a plan while pretending that tomorrow is your day for beginning to do business in the region and beginning to network with other stakeholders in the region. What would you do?
Make an excellent plan, and when you describe your plan the reader will know that you deserve the scholarship. The people who are most deserving are the ones who have put the most thought into what they want to do.
There is another suggestion: during your essay, when you directly address the question about what makes you think you deserve the scholarship, you can confess that you don't know that you deserve it more than some other person does. Let the reader know that you cannot say whether you deserve it but that you intend to honor it by making a real contribution and practicing business in a way that is socially and environmentally responsible.