Emerging talent

Why is it that galleries, competitions, bursaries and other opportunities often say they are looking for ‘emerging talent under 35’? What about the increasing number of students who join undergrad and postgrad courses who will be well over 35 when they graduate? Are they instantly consigned to the scrap heap? Do they not even get a chance to ‘emerge’? It is about time that emerging talent was just that with no age discrimination just selection on ability.