£1.1 million funding to teach entrepreneurship in FE

A new government initiative aims to bring the business of entrepreneurship and enterprise to UK universities and colleges with £1.1 million backing from the Department for Business, Innovation & Skills.

The Entrepreneurs and Education Programme’ will source talent from senior managers, educators, researchers and academics and provide them with the necessary information to help local universities and colleges become more entrepreneurial and innovative.

The unexpected rise in new small business startups during the economic downturn has prompted the government to react to this trend and ensure the appropriate training for careers in business and entrepreneurship is available to students in FE.

Doug Richard, founder of School for Startups, said:”The UK needs entrepreneurs now more than ever, and we have to start tapping into the abundance of innovative talent that British universities and colleges have, and help them to unleash their entrepreneurial potential.”

The Entrepreneurs and Education Programme will host 30 ‘Challenge Workshops’ unril next March.

The events consist of two-hour workshops and day-long impact events. The tour of FE and HE institutions aim to demonstrate the specific skills required for business, provide information on how to approach the creation of a startup business, and how to improve student employability chances once their education is complete.

While many larger companies are struggling under the budget cuts of economic crisis, smaller business and social enterprises have moved to the forefront due to the stability of smaller, more manageable models. Small business startups are also benefitting from great press during the crisis, as their ability to offer employment to local individuals is welcomed with open arms. By educating students of FE about the importance of entrepreneurship, the scheme hopes to identify talent, involve more students with business and prove that it is a viable career path.

Confident in the potential of what Richard describes as Britain’s entrepreneurial future, Minister for Business and Enterprise Michael Fallon said: “The Government is committed to supporting new and emerging businesses. That is why we are investing £1.1 million in to this new programme that will bring together our most creative minds and give them the knowledge they need to turn their business idea into reality.”

Daisy Atkinson