Entrepreneurship scheme receives £2.6m boost

GRADUATES will receive help to start their own firms for another three years after the promise of £2.6m of new funding for a successful region-wide scheme.

The Graduate Entrepreneurship Project, co-ordinated by the University of Huddersfield, was due to end but has been extended for three years, TheBusinessDesk.com has learned.

Yorkshire Forward has approved £1.3m of European Regional Development Fund money to support the scheme which will be matched by the 11 higher education institutions in the region.

The project has already generated £3m for the Yorkshire economy since 2007 and is forecast to do the same over the next three years.

Kelly Smith, head of enterprise at the University of Huddersfield, said: “Research has shown that although entrepreneurial success tends to increase in line with educational attainment, entrepreneurial intent drops away quite dramatically at university. This is why the project exists at universities, which is a safe environment for graduates to explore what business start-ups might mean for them.

“Graduates often bypass traditional support systems. Most people come to university to get a job, not necessarily to create their own. We see our role to hand hold and inspire graduates to engage with start-up activity.”

The scheme, which operates in each partner university, supports graduates who have left university up to eight years ago to start their own businesses through mentoring, advice and networking events.

Graduate business can also benefit from proof-of-concept funding of up to £1,000 and start-up grants worth as much as £2,500.

In addition, the scheme hosts region wide events, such as a four-day annual entrepreneur boot camp for recent graduates from Yorkshire universities and an investor-ready workshop for graduates ready to take their business forward.

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