Prime Minister and Ambassador launch new scholarship for entrepreneurs

The creation of one of New Zealand’s richest and most valuable scholarships to the US has been launched by the Prime Minister Helen Clark, and the US Ambassador to New Zealand, Charles Swindells.

L to R: Jennifer Gill, Executive Director; Suzanne Snively, Chair; Prime Minister Helen Clark and US Ambassador Charles Swindells

The Fulbright-Platinum Triangle Scholarship in Entrepreneurship, valued at up to US$100,000 per recipient, is the first of its kind.

It is unique in that it will provide talented New Zealanders with the opportunity to study towards a Master’s degree at a US university through supporting their entire course of study, as well as an internship and access to employment or venture capital contacts on return to New Zealand, creating a powerful combination of academic learning and practical experience.

The internship component allows for practical experience to be gained in a US business during the summer break, and on completion of study.

The Scholarship has been created, with the support of the New Zealand and US governments, the Swindells Foundation, and other private philanthropists in both New Zealand and the US.

“I am passionate about economic development”, said US Ambassador Charles Swindells, who has been a key player in establishing the new scholarship.

“This three-pronged approach offers talented Kiwis postgraduate study and work experience in the United States, and then importantly sees them return to New Zealand with the start-up capital to share the benefits of their experience with the wider New Zealand community.

“It’s also a fabulous venture involving three-way cooperation. It is another great example of what our two governments can achieve together and I am delighted to have secured support from the leaders of top American and New Zealand companies.”

Prime Minister Helen Clark also supports the scholarship.

“The government recently increased funding to Fulbright New Zealand to enable it to invest in New Zealand’s future leaders. It is an exciting opportunity for our best and brightest graduate students to reach their goals by obtaining degrees from top American universities, then return to contribute to New Zealand’s knowledge economy.

“New Zealand is a small country which must look outwards and be open to new ideas. This scholarship will give New Zealanders a new opportunity to study and work offshore.

“When the recipients of these scholarships return to New Zealand, they will be well positioned to be future leaders of innovative technology businesses. This fits well with the government’s vision of developing New Zealand as a high value economy, capable of sustaining high living standards.

“The Government very much values New Zealand’s education links with the US, both for the opportunities for our people to study and do research there, and for the opportunity we have to host American students and researchers.”

The Scholarship is open to entrepreneurial individuals who are, or have the potential to be, at the cutting edge of New Zealand’s knowledge economy and who believe that they can contribute in a meaningful way to New Zealand’s economic success as startup business owners or key participants in an existing high-tech company.

For 2005 preference will be given to applicants with an interest in the commercialisation of high-tech research or international business and marketing. In 2006 preference will be given to applicants with an interest in IT and creative technologies and in 2007, biotechnology and food technology. Further details can be found on the Fulbright-Platinum Triangle Scholarship in Entrepreneurship Award page.