Graduate Business Start-ups Project Report - The Institute for ...

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Support includes business seminars and seminars by gallery managers, team building and business exercises. Advice on writing a business plan and presentation of team plans are also involved. Students are also responsible for generating finance for the project — through sponsorship or whatever means they identify. The Biotechnology Young Entrepreneurs Scheme (Biotech YES) This is a competition developed to introduce students and researchers in the Biosciences to the commercial potential of scientific and technological discoveries and, to the requirements for the development of a biotechnology company. It is jointly organised by the BBSRC (Biotechnology and Biological Sciences Research Council) and the University of Nottingham. This scheme introduces Bioscience students to the key business skills important in setting up a Biotech company. YES begins with intensive regional weekend induction workshops where teams of undergraduate and postgraduate/ postdoctoral scientists are introduced to the key aspects of preparing a business plan and setting up a Bioscience company Postgraduate teams spend a further 2 days developing their plans, with advice from a team of mentors, and then make oral presentations of their plans for the start up company to a judging panel of Venture Capitalists. Undergraduates return to their universities to prepare written business plans, submitted for judging after 6 weeks. Undergraduate and postgraduate teams are then selected from each of the regions to present their plans. In 1998 teams from the Universities of Aberdeen, Cambridge, Leeds, Surrey, UCL and the John Innes Centre, Norwich were invited to present their business plans at the Postgraduate/postdoctoral final. Entrepreneurial Skills within Career Management Programmes A curriculum based programme developing generic career management skills with explicit focus on the self-employed sector is Personal and Professional Development at the University College of Ripon and York St. John. The modules are a compulsory part of the College’s combined Honours schemes. They aim to give students ‘knowledge, skills and experiences relevant to a variety of careers in the private, public, voluntary and self-employed sectors ….’ Graduate Business Start-ups: Project Report 31
Studying a business plan is part of what is on offer. There is an emphasis on experiential learning and skill development, and students taking responsibility for their learning. A Revitalised Enterprise Culture The Chancellor has announced a series of measure designed to build stronger links between Higher Education and Industry, through eight 8 new Institutes of Enterprise in Universities. The government proposes to put £25 million into these. Incubator Units already exist on a number of campuses: Campus Ventures is one example. Manchester University’s high technology business incubator, offering a range of business support services to start-up businesses. Its mission is ‘to enable HEIs to play an increasing role in the creation of wealth and employment through the provision of a place of support, in which technologists and scientists can develop skills, through participation in the origination and development of businesses’. The Sussex Innovation Centre, based on the University of Sussex campus, was established to encourage and support the creation and growth of technology-based businesses in the Sussex region. One aspect of this support is to provide incubator space for new technology and knowledge-based companies. The aims and services are typical of many, with customised service, laboratory space, personnel who can provide technical, management, marketing and other specialist support, and networking. The Centre works closely with the Universities of Sussex and Brighton, Brighton College of Technology, local companies and individual inventors. 32 Graduate Business Start-ups: Project Report
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