The entrepreneurs could apply for the usual MBA programmes or Masters in Entrepreneurship at well-established universities but this foundation focuses purely on what is required when an entrepreneur goes out into the real world to set up his or her business. The real-time aspect of the placement puts the young entrepreneurs in a stronger position.
How the foundation works is, is that graduates are enrolled in the programme which includes a course and a work placement for an entire year as well as the availability of formal tuition and access to educational events. For 2012 the number of graduates in the programme is 35, which is a fairly large number, considering the benefits they receive, i.e. sought after work placements and get paid to enroll in the programme. The placements for this year are with start-ups such as MyDeco, Made.com and Seatwave. These companies have made an impact already, although in their initial setting up phase.
The Foundation’s chief executive Neeta Patel said: “The work placement means they get to work and learn in a fast-growing entrepreneurial environment. There is also a formal aspect to the tuition. We get them into a classroom to learn all the skills you need to run a business, including strategy, finance and marketing. We also teach soft skills, such as how to present and how to build your brand. The idea is that you learn everything you need to run your own business.” She said that the programme is of an intensive nature.
London Business School is among some of the prestigious institutions providing workshops for the programme. The experts have shown a special interest in this programme including David Cameron who hosted a lunch for the class earlier this summer. Such is the backing of this programme that MBA programmes from world renowned Schools don’t even, receive such attention.
The backers of the programme are some very influential personalities namely, Sir Nigel Rudd, the former business Minister, Chair of Standard Chartered Lord Davies, Oliver Pawle, former UBS vice-chairman and Dee Sterling, entrepreneur and headhunter.
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