Inaugural US$100,000 entreprenuer scholarship recipient announced

Wellington IT specialist Joshua Feast is the first recipient of New Zealand's most valuable scholarship to the United States; the Fulbright-Platinum Triangle Scholarship in Entrepreneurship. The US$100,000 scholarship will enable him to complete an MBA at the MIT Sloan School of Management, Boston, a business school internationally recognised for its educational development of innovative managers.

The Fulbright-Platinum Triangle Scholarship is personally funded by US Ambassador to New Zealand Charles Swindells and other private philanthropists in the US and New Zealand.

The scholarship, which includes travel, will fund Joshua through the entire MIT course and includes an internship component that will offer him practical experience in the US during and after the completion of his two years of study. Joshua will also be provided with support on his return to New Zealand, either to start his own business or to find employment.

Ambassador Swindells, who initiated the Platinum Triangle Scholarship last year, is excited to see it taking form.

"I want to express my heartfelt congratulations to Joshua for his selection as the first recipient of this award, which is the most generous offered by Fulbright New Zealand. It combines the resources of the private and public sectors of the United States and New Zealand and has already been hailed as a model for other scholarship programmes around the world. With Joshua's selection we are truly on our way!"

Prime Minister Helen Clark is very supportive of the scholarship and the opportunities it offers to New Zealanders.

"This is an exciting opportunity for Joshua. He will be well positioned when he comes back to New Zealand to work in new technology business and make a major contribution to New Zealand's economic growth."

Joshua, aged 28, is currently contracting to the Department of Child Youth and Family where he heads a software development project. He plans to specialise in technology entrepreneurship, with an emphasis on how information and communication technologies are allowing organisations to become leaner, more dynamic, and more oriented to international markets.

"For me, there are significant business opportunities in this area, and I believe it will be possible for a company originating in New Zealand to take advantage of them."

Joshua, a former Scots College student and a graduate of Massey University, believes that commercial activity, by creating wealth and promoting innovation, can help resolve some of the underlying causes of conflict in society.

"My focus is on the use of technology by international organisations and internationally mobile individuals, and I believe that this is integral to the development of New Zealand's knowledge economy.

"I hope to learn the skills and make the contacts required to successfully operate a technology business in an international environment. I think that the experience will open my mind to new possibilities and give me the confidence to see my ideas through."

When he returns to New Zealand, Joshua intends to work at setting up a business that develops and commercialises high-technology products.

"I intend to bring back the experience of having succeeded at a world-class educational institution. I would also like to bring back insights into the state of the art in business and technology and eventually prove a business model for developing technology products that are really relevant to different international markets.

"Once I have achieved that, I would like to help other companies achieve a similar goal."

ENDS