Specifically, it will be focused in the areas of environment, sustainability, or climate change.
McCullough Robertson Lawyers, through the McCullough Robertson Foundation, is committing $100,000 to establish and support the scholarship.
MR partner Dominic McGann said in creating the scholarship the firm sought to acknowledge and honour the substantial contribution of Roche to the resources and renewables industries in Queensland.
In his career Roche also served as a senior executive at the Australian Securities Exchange, chief of staff to Labor treasurer Keith de Lacy and, more recently, as a strategic adviser at McCullough Robertson, complementing the firm's extensive experience working alongside clients within those industries.
"Michael Roche consulted exclusively to McCullough Robertson for a number of years after retiring as CEO of the Queensland Resources Council and in that role provided us with valuable industry insights," McGann said.
"Through his prolific work ethic he engendered a passion for persuasive and client-friendly thought leadership writings for our clients, industry contacts and friends of the firm.
"The Michael Roche Scholarship will provide a lifechanging opportunity to its recipients, while preserving the incredible legacy of a man who gave so much to Queensland.
"Michael Roche's bold and unwavering commitment and fearless advocacy garnered industry-wide respect, and it is appropriate that, through this scholarship, he will continue to inspire future leaders in the resources and renewables industries."
The scholarship will support an annual travel scholarship for a QUT postgraduate student or research staff member who can demonstrate a passion for innovation and leading edge thinking within the resources and renewables fields across disciplines including science, engineering, business, health, law, education or creative industries.
It is intended to cover domestic or international travel costs, enabling the recipient to attend or present at conferences, undertake crucial research, or to help facilitate further study.
"Our aim is for the scholarship to become synonymous with accelerating the career trajectory of the recipients, who will hopefully look back on it as a pivotal moment in their academic journey," McGann said.
"The scholarship supports the firm's commitment to creating opportunities for innovation and creating meaningful partnerships that endure well into the future."
QUT deputy vice-chancellor Christopher Barner-Kowollik said those industries were evolving rapidly and the Michael Roche Scholarship would help support new ideas and fresh leadership across a range of issues.
"The award highlights the desire for a just and equitable energy framework on behalf of the industry, its many stakeholders and the general public going forward," Barner-Kowollik said.
"Each scholarship recipient will be recognised for their insightful leadership and creative vision in originating concepts that will bring invaluable benefits to Queensland and beyond."