The award was established by the Riverdance composer in 2005 to support Irish music students studying abroad.
Anna Rice, a graduate of Trinity College, Dublin, has collected credits as title song co-writer for the award-winning BBC cartoon series Zombie Hotel and worked as orchestrator on the IFTA winning score for Winter's End.
She's also played violin with the likes of Sinead O'Connor, Frankie Gavin, Phil Coulter, Brian Kennedy, and the Three Tenors.
Anna commenced a Post Grad Diploma at The Royal College of Music, London in September 2006.
Speaking at the presentation of the award earlier today, Bill Whelan said: "I am delighted to be able to help nurture the career of someone as talented as Anna. When I started out in the business financial support and access to influential industry figures was not really an option available to most composers.
"My hope is that through the provision of this bursary many young composers will be able to study under the direction of some of the best tutors in the world."