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London Business School establishes incubator for entrepreneurial students
Setting up business incubators on University campuses has long been favoured in order to fuel entrepreneurship. Incubators offer a range of business support services to nurture and encourage upcoming companies.
Entrepreneurs require a supportive environment with enough resources to begin their own business and put theory into practice. According to Bart Clarysse, entrepreneurship is becoming more and more important amongst MBA students. More and more business schools are starting up their own incubator services as they are realising that offering classroom based learning isn’t going to suffice.
To get a space at the London Business School incubator students must apply and get accepted. Once accepted, they have 12 months to start up their business and get it to the point where it can run on its own outside of the incubator. Entrepreneurs leave and rent their own premises or move into a bigger entrepreneurial facility.
Current business tenants are finding the incubator extremely helpful. While starting up a business can be stressful and potentially a time where one feels quite lonely, the incubator gives business owners the chance to support one another. Tenants are also allowed to use the University’s premises and services. Tenants give back to the University by sharing their experiences with entrepreneurial students currently studying at LBS.
The incubator is currently run by London Business School’s career services and the Deloitte Institute of Innovation and Entrepreneurship. London Business School says that this currently the pilot period, but they would like to grow and expand the initiative.
Students wishing to apply must do so prior to graduation or immediately after graduation.
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