Graham (25), a Dunedin surveyor, and Begg (24), a Christchurch mechanic, leave for Italy next month to compete against the world's best at Lake Garda from July 12.
They realised it was worth a try when they beat New Zealand champion Chelsea Whitburn at the South Island 29er championships at Christchurch last month.
"It was a quick decision," Graham told the Otago Daily Times. "We kicked off our campaign a month ago."
It will be an expensive task and will cost the pair $23,000 for this year's campaign in Europe. They are seeking sponsorship.
They warm up for the world championships by competing in the famous Kiel Regatta in North Germany from June 19 to 24.
There will be three New Zealand yachts competing in the 120-strong fleet at the world championships. The other two are from Auckland.
Graham, who started sailing with the Ravensbourne Yacht Club at the age of 12, has won three New Zealand 29er titles - in 2003, 2004 and 2007.
It was a vintage year for Graham in 2004 when he had eight wins and a second at the national championships.
He has competed at the world 29er championships on three occasions and finished 11th at Lake Silvaplanna, Switzerland in 2004 and 30th in Spain in 2003.
He was ninth at the 29er European championships in Germany in 2003.
Graham and Begg first sailed together when they were pupils at Otago Boys High School and renewed their partnership when they won the New Zealand 29er championships two years ago.
America's Cup great Russell Coutts funded the Ravensbourne Youth Yachting Trust at his old club a decade ago and Graham and Begg developed their yachting skills because of that initiative.
Peter Graham Profile
Age: 25
Home town: Dunedin
Education: OBHS
Occupation: Surveyor
Sport: Yachting
Record: NZ: 29er champion 2003, 2004, 2007; World 29er championships: 2003 (30th), 2004 (11th); European 29er championships: 2003 (ninth)
