A Bermudian student has become the first to receive a full scholarship pledged by two businessmen looking to invest in the island’s young talent.

Katherine Grainge is attending the University of St Andrews in Scotland thanks to the donation from Chris Maybury, a longstanding Bermuda resident, with Karim Alibhai, the founder and principal of the United States-based investment firm Gencom. Mr Maybury is a representative of the company in Bermuda.

Gencom, which has bought both the Rosewood Bermuda and Fairmont Southampton hotels, announced plans for the scholarship two years ago.

Valued at £35,000 – or roughly $45,000 – annually for four years, the scholarship covers tuition, accommodation, food, return airfare and a computer – allowing students to focus on their learning.

Ms Grainge, who has embarked on her studies at Scotland’s oldest university, said she was “deeply honoured and grateful” for the award to study art history.

She said she hoped to work in the heritage sector, with the goal of eventually bringing her skills home to a Bermudian museum.

Diallo Rabain, the education minister, announced the award yesterday.

He added: “We are grateful to Mr Maybury and Mr Alibhai and look forward to continuing to working with them to afford this opportunity to additional students.

“Their commitment is a testament to their belief in Bermuda’s youth.”

To qualify for the scholarship, students must first apply directly to the University of St Andrews at https://www.st-andrews.ac.uk/study/apply/ug/direct/.

Students can then submit their application on Bermudascholarships.com.