Menu visibility control

Video

Events

Startup Surgery

Most Recent

News

British robot firm moves production to Madrid to maintain EU base post-Brexit

Investments

AI startup Mogees raises £1m, brings total to £3m

Investments

InsurTech startup Neos lands £5m in Series A round

Press Releases

Zzish hits £1.15m funding target on Crowdcube for technology that will democratise quality education and move the needle on learning
Okappy announces the launch of its investment pitch on the AngelsDen equity crowdfunding platform
Recruitment disruptor talent.io poised for further growth with €8m investment secured

New Digital Enterprise Award is launched to support young entrepreneurs

twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

A new scheme has been unveiled to support the budding entrepreneurs of tomorrow.

The Digital Enterprise Award, iDEA, has been announced by the Duke of York and Nominet Trust at Buckingham Palace.

It will support 1000 young entrepreneurs in its pilot year, helping them shape and articulate business ideas, and taking them through to real businesses.

Top tech stats: young entrepreneurs, smartwatch shipping figures & more

It is effectively a Duke of Edinburgh Award for tech, with those involved gaining industry recognised badges along the way; a Duke of York Award if you like.

Every year, the 20 most promising ventures will received £5000 incubation funding and the three ventures that then show the most potential will be awarded £15000 funding.

entrepreneur.i.am

The Duke of York was joined by musician, The Voice coach and entrepreneur will.i.am at the announcement and together made for a interesting pair.

Last year, will.i.am launched an iPhone camera accessory, which was described as “ugly, expensive and useless”. It went on sale exclusively at Selfridges and then at Macworld.

The accessory was by no means a success, but he still believes that entrepreneurial skills are important for today’s young people:

williamToday, digital skills incorporating computing, coding and marketing are a baseline requirement to succeed in almost every career path.  Whether a young person aspires to be a fashion designer, a doctor, a solar engineer, or a musician, digital and entrepreneurial skills are essential to success.

A lack of entrepreneurial education

The announcement comes after a rise in entrepreneurial ambition from young people in the UK.

A recent study by Unltd revealed more that 14% of young people aged 16-25 are in the process of starting their own company, compared to 8% a year ago.

Despite these rising figures, YouGov research, commissioned by the Nominet Trust, found 64% of 16-25 year olds feel that formal education doesn’t go far enough to help young people interested in entrepreneurship.

Finding a business mentor

The scheme is supported by successful entrepreneurs including Michael Acton Smith of Moshi Monsters, Lily Cole of Impossible.com, and Nick D’Aloisio of Summly.

They hope to support one million young people in the UK over the next five years.

Mentorship and individual support will play a key role in iDEA as the programme connects young entrepreneurs with mentors and partners to help develop their idea.

Annika Small CEO of Nominet Trust

Annika Small, CEO of Nominet Trust, said:

Digital technology has fundamentally changed the nature of entrepreneurship, opening up new opportunities for young people to create businesses. However, much of the support currently available to young entrepreneurs is desperately out of sync with their needs.

 

Enter your email address to receive updates straight to your inbox

* indicates required
Send me news on...
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

  • @Student_Pad

    Best project ever!! Been the best experience we have ever
    been through and hope we get through to the finals, learnt so much and have received
    the most amazing advice!! Being involved with such high profiled people has inspired and provided us with such inspiration and given us the opportunity to excel ourselves. Wish us luck!! and don’t forget your chance to get involved on the 15th best thing we EVER did. Student Pad …..application built by students for students.

Editor's picks

British robot firm moves production to Madrid to maintain EU base post-Brexit
posted 6 hours ago

AI startup Mogees raises £1m, brings total to £3m
posted 7 hours ago

smart home

InsurTech startup Neos lands £5m in Series A round
posted 11 hours ago

Bath-based wedding planning app Prezola raises £3m
posted 12 hours ago

ThingTrax

EXCLUSIVE: IoT startup ThingTrax gets over £250,000 in Seed funding
posted 15 hours ago

Amber Rudd

UK govt reportedly planning to ban encryption following Manchester attack
posted on May 24, 2017