Entrepreneurs encouraged to revive spirit of innovation

Entrepreneurs are being encouraged to revive Britain’s standing as a centre for innovation in the wake of Dragons Den style investment programme.

[ClickPress, Tue May 01 2007] Would be entrepreneurs are being encouraged to revive Britain’s standing as a centre for innovation in the wake of a new project which offers up to £250,000 to forward-thinking businesses in a Dragons Den style investment programme.

As NESTA (National Endowment for Science, Technology and the Arts) announced that it has set aside £50 million to fund new and innovative ideas one of Scotland’s leading networking organisations is encouraging business leaders to help revitalize the country’s reputation for originality.

”Britain, and Scotland in particular, has a proud history of innovation and we want to encourage businesses to revive that spirit,” said Marrisa Lippiatt,
Scotland Partnerships Support Manager for the UK-wide organisation, who spoke at a meeting of Thrive for Business in Glasgow on April 18.

In a presentation to members of Thrive, which is Scotland’s fastest growing business networking organisations, Ms Lippiatt said that compared to other European countries a lot of innovation in Britain failed to get the credit it deserves.

”There is a lot of innovation that goes unrecognised and we want to promote it and to create an atmosphere of confidence which will encourage resurgence in innovation in everything from industry and retail to education and health care,” she said.

NESTA’s new Starter for Six Project is a novel initiative intended to build the enterprise skills of up to 300 new entrepreneurs over three years, particularly in the ICT, healthcare, technology and environmental technology sectors.

Amanda Kremer, Managing Director of Thrive for Business, described the scheme as welcome encouragement for businesses across the UK.

”Many firms are put off trying new things because of the difficulties involved. Anything that encourages innovation and experimentation is to be applauded.

”Businesses need to be more innovative in finding fresh markets and new methods. This kind of scheme is just what is needed to inspire confidence and create opportunity.”

The programme is open to any fledging entrepreneur with places awarded on a competitive basis.

Applicants for funding will have to pitch their ideas and business plans to a team of experienced investment executives who will select the best ideas to win NESTA support to maximise the potential of the business.

NESTA aims to help fledgling companies grow into successful commercial businesses by investing not just finance but also lots of practical support.

”There is plenty of work that goes on at the university and research laboratory level which is highly important but there is also lot of innovation at a lower level which doesn’t get recognised at all,” said Ms Kremer.

”Look at the budget airlines, nobody had thought of that idea until somebody came up with a way to tap into a new market. NESTA should be congratulated for encouraging businesses to ‘think outside the box’ and for being willing to provide practical and financial support for pilot projects.”



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