Young islanders can now apply for one of five £1,000 grants from Condor.
The next generation of sports stars can use the money for travel costs when attending events outside the island.
Athletes, nominated by their representative clubs or associations, must be aged between 13 and 23, in full-time education, and competing or training within a regional or national pathway in their sport.
They must also prove that there is a frequent need for ferry travel between the islands or the UK for their sporting performance and development.
Part of the criteria also says that an athlete should explain why they should be selected for the bursary, whether there is financial hardship, a lack of support or the cost of moving equipment.
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