StartUp Britain launches - Business Works
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StartUp Britain launches

P rime Minister, David Cameron launches StartUp Britain today – a new initiative led by entrepreneurs to boost the enterprise-led economic recovery.

Over 60 leading global brands have already pledged millions of pounds in support to new entrepreneurs in the form of discounts on products, ranging from insurance to internet advertising.

"We want to transform the ambition and aspiration of young people through real business experience. To rebuild our economy and create new jobs, we need to inspire the next generation to seriously think about starting their own company," said Vince Cable, Business Secretary.

The Government has announced:

  • the creation of enterprise societies in every University and most Further Education Colleges to develop students with the ambition and skills for enterprise;
  • a major roll-out of Tenner Tycoon, the successful competition owned and run by the Peter Jones Foundation which gives young people the opportunity to take forward their business ideas;
  • a new online tool, the Innovation Launch Pad, enabling small businesses to pitch their ideas on how they could deliver better value for money for Government; and
  • support for every school to run its own business through the Enterprise Champions Programme.

Enterprise societies in universities and colleges will provide students with the skills and support to develop and manage a business. The Government will aim to deliver enterprise societies into all 89 universities in England and at least 160 Further Education Colleges.

"Through Tenner Tycoon, the Enterprise Champions Programme and enterprise societies, we will be giving young people insight into enterprise at an early age, showing them how rewarding it can be to transform your own ideas into a real business," continued Vince Cable.

Tenner Tycoon provides young people with a ten pound loan, with the challenge to make as much profit and social impact as possible through enterprising activities over one month. The Government will work with the Peter Jones Foundation to make Tenner Tycoon realise the ambition to reach at least 250,000 young people by 2014.

"I welcome the Government’s commitment to increase its focus on enterprise in schools," said Peter Jones CBE, founder and Chairman of the Peter Jones Foundation. "Through my Foundation and Enterprise Academy, I want to help rewire the entrepreneurial potential of our country. The strength of business-led initiatives like Tenner Tycoon is that it gives thousands of children across the nation an opportunity to learn about entrepreneurship in a very practical way. Over the course of a month, by seeing what they can do to grow a ten pound note, young people learn essential business skills."

"My Foundation has ambitious plans to grow Tenner Tycoon tenfold from 25,000 in 2011 and this will help create a winning enterprise culture in our schools. We will work with government, business, education and political audiences who can help realise the superb potential of the scheme and the ambitions of our young people."

"We need to inspire young people to strike out on their own, and also give them the practical tools to help," said Mark Prisk, Business and Enterprise Minister. "It is vital that everyone has the opportunity to develop their ideas and learn the skills needed to succeed in business."

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