In order to give a boost to the businesses in New Zealand, Prime Minister John Key announced over $1million in business scholarships. These scholarships are especially aimed at the export industry and it will enable individuals to apply for around $110,000 to go for studies at world-renowned business schools. Every year, students between the age group of 15 and 25 would be given these scholarships.

The Prime Minister and the Economic Development Minister would shortlist the applicants and the beneficiaries would be chosen from this list. The recipients will be given the facility to opt for a business program of their choice and their Company would take care of the expenditure.

Mr. Key said, "The aim is to build the capability of our businesses and help make New Zealand more internationally competitive. It is expected that applicants would come from firms looking to export more".

He added that the business scholarships should have an effect on the business world by offering access to best foreign business courses, to the senior managers and executives.

Gerry Brownlee, Economic Development Minister said that claimants would be coming from a diverse range of businesses. The Government expects that people from fields like dairy, food, high-value manufacturing, petroleum and minerals.