Innovate UK partners with The Prince’s Trust for Ideas Mean Business

 

A great idea can often present opportunities for developing businesses, but for many young people, it can be difficult to know where and how to start.

Partnering with The Prince’s Trust, Innovate UK has unveiled the Ideas Mean Business campaign in an effort to support 18-30-year-olds who want to launch and expand their entrepreneurial concepts.

Why is the campaign needed?

Conducted by YouGov, Innovate UK has published a new report revealing that young people offer plenty of ideas but are unsure of how to execute their vision. Two in five young people have ideas for products and scalable services, while more than half would like to run their own company.

However, despite these statistics, only 8% of young people would describe themselves as entrepreneurial, meaning that advice and guidance is needed in order to boost and develop their confidence. While it’s good to be clued up on how to develop a profitable business, it’s just as important to know where to start.

What is the campaign?

The initiative will provide advice and guidance to applicants from a wide range of backgrounds.

Under the ‘Young Innovators’ programme of support, 12 regional Innovation Live events will take place across the UK in early January 2018, with an award competition opening in February and a subsequent award package being presented in March. If you need help with your business directory, then contact Shane Murphy for his services.

This award package will include an allowance to cover living costs, similar to an apprenticeship,and mentoring from an Innovation Champion and additional funding for specific requirements such as travelling or equipment.

Those who don’t win an award will still have access to the Innovation Module and support.

Discussions with Innovate UK Mentors

It’s not just online tools and advice on offer either, as the campaign hits the road and brings innovators together.

On 5th December 2017, Deborah Meaden attended an #IdeasMeanBusiness pop-up coffee shop event in Angel, London, where young people were given the chance to talk with Innovate UK business mentors and experts from The Prince’s Trust. Other successful business-starters were also present, such as 19-year-old Ben Towers, to converse with applicants.

The pop-up coffee shop is set to travel across the country and will be appearing in various regional locations in the coming months.

Sign Up and Get Involved

Interested in developing your ideas into a tangible business venture? Make sure to sign up at Prince’s Trust Online. Keep up to date with the latest in science & tech by following Innovate UK on Twitter or subscribing to their YouTube channel for more tips, tricks and advice.