Winehouse was 13 when Sylvia Young of the Sylvia Young Theatre School in London auditioned her and was "blown away" by her version of "On the Sunny Side of the Street."
Amy's father Mitch said the scholarship would be awarded to a child who otherwise could not afford to attend, in keeping with the foundation's aim of helping young people from disadvantaged backgrounds.
The charity was also set up to help people suffering from substance abuse after Winehouse's highly public, and eventually fatal battles with drink and drugs.
"It would be wonderful to find another Amy, but there was only one Amy," Young said. "We would be happy to find a singer, dancer or actor who has a special talent."
A statement announcing the scholarship said Winehouse's time at the school "led to her later success."
The "Rehab" singer in fact left the school before she completed her studies and had behavioral problems, although Young has denied reports that she was expelled.
The foundation's website provides a link with details of how to apply for the scholarship.
(Reporting by Mike Collett-White, editing by Paul Casciato)
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