More than 200 breeders and industry figures were present as TBA president Basil Nolan acknowledged the award that was created and funded by Aushorse and named in honour of his late son.
Basil Nolan Jnr died in a farming accident on his family’s Raheen Stud last November.
The scholarship will be available to graduates of Thoroughbred Breeders Australia’s traineeship program, Fast Track, allowing one graduate every year to study overseas.
Aushorse chairman Antony Thompson said the scholarship continued the organisation’s commitment to the future of thoroughbred breeding in Australia.
“The Fast Track program is only in its second year and already it’s been a real success, attracting some great young people to the industry,” Thompson said at Monday night’s event.
“This prize will provide a graduate the opportunity to expand their knowledge base and broaden their experience, allowing them to go overseas and study on the Irish National Stud course or a similar program.
“The Aushorse board are delighted to name the scholarship after Basil who was a wonderful man and embodied so much that is great about the Australian breeding industry.”