University Unveils Plans to Help Increase Opportunities for Young Entrepreneurs

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The Worcester Business School has launched ambitious plans to help some of the region’s best young business brains.

The University of Worcester recently completed the purchase of a number of buildings - formerly owned by the City Council and situated a stone’s throw from the Business School’s City Campus base – which will now be renovated and will provide a home for budding entrepreneurs.

Proposals for the new facility, which is also set to house the University’s Language Centre and increased office space, include the creation of the University Centre for Entrepreneurship and Business Creation, and will be submitted in the New Year.

At an event at the University’s City Campus earlier this month, the Business School unveiled plans for a Business Incubator Unit, which will aid students who are actively involved in setting up their own businesses.

Tim Maxfield, the Worcester Business School’s Director of Business Development, spoke at the event, saying: “The Business Incubator Unit will be much more than bricks and mortar; it will be a dynamic, nurturing environment which will actively seek to support young entrepreneurs.”

Many of those who will benefit from the new facilities are students on the University’s Momentum project, which was launched this year and is being supported by the Higher Education Funding Council for England (HEFCE).

The project allows participants to study for a Postgraduate Diploma in Leadership and Management, leading to an Executive MBA, whilst they are continuing to work – be that within an established company or setting up their own firm.

Lisa Loudon, Momentum Project Manager, says: “The creation of the Business Incubator Unit will help us stimulate growth and recruitment in the region: to enable graduates to be ‘opportunity ready’ and thereafter help student micro businesses to grow their businesses, to cope with uncertainty, be resourceful and inventive and go on to create jobs for others.

“We can only do this if we combine our own resources with those of experienced and valuable external partners – including drawing upon the experience of the Worcestershire Ambassadors, who have gained the experience of selling what ‘Entrepreneurship’ actually looks like.”