Student Placements for Entrepreneurs in Education

1. Student Placements for Entrepreneurs in Education Brian Clements � University of Wolverhampton Prof. Chris Birch � Staffordshire University At International Entrepreneurship Educators Conference York 12th September 2006

2. Today�s programme Presentation on SPEED Questions Workshop Delivery structure Mentors and Supervisors Assessment Risk factors Sustainability

3. Caveat SPEED is an educational project, not a job or business creation programme! Such aspects of the project may be attractive to RDAs, but the partner HEIs recognise that the process is more important than the outcome.

4. SPEED �Too few men and women here in Britain�have started or grown a business or become self-employed and so it is time to remove the financial, cultural and other barriers to enterprise, so that in Britain, starting a business becomes the ambition of not just an elite few but of many.� George Brown, Chancellor of the Exchequer, Mansion House 2002.

5. SPEED Funded under the HEIF 3 Competitive element �5,000,000 total funding to 2009 Pilot self-employed placements at both Staffordshire and Wolverhampton indicate a viable paradigm

6. SPEED 12 Universities Birmingham, UCE, Coventry, Derby, Nottingham Trent, Southampton Solent, Staffordshire, Thames Valley, Ulster, Warwick, Wolverhampton, Worcester 9 external partners Including NCGE, UKSEC and Young Enterprise 750 placements 30 months

7. Funding �6000 per student of which �1500 to supervising HEI department �4500 to the student entrepreneur This may be shared between start-up bursary, start-up expenses, accommodation and professional services.

8. Eligibility Students registered with a partner University Student funded must have individual P & L responsibility Must have a business concept considered to offer a viable chance of success and financial support for the duration Must be accepted by a selection panel representing their own and one other HEI

9. Assessment Monthly progress reports to academic supervisor. Final project dissertation. Note that assessment standards are set by the supervising HEI

10. Any questions at this stage?

11. Workshop Topic 1 Originally conceived as an alternative for the 3rd year placement of a 4 year sandwich degree, now also offered as part-time, postgraduate, foundation or other options. Is it acceptable to fund equally each of these options and might some be considered as more valuable experiences than others?

12. Workshop Topic 2 The student will be supported by academic supervisors, enterprise mentors and other professional advisors. Should these mentors be subject to specialised training or standardised programmes, or should they be encouraged to exercise the diversity of the delivering HEIs?

13. Workshop Topic 3 As a pedagogic process, it should be equally possible to assess success or failure of the student failure. Should success merit higher grades than failure, or should either be considered solely on the basis of the student�s project dissertation?

14. Workshop Topic 4 Identified risk factors include: Withdrawal from SPEED before completion Failure of SPEED businesses Success of enterprises truncating studies Possible student stress from managing their businesses Are all these risk factors acceptable?

15. Workshop Topic 5 A programme of longitudinal research has been initiated and it is hopes to expand the programme in the future. What are the pros and cons of the current SPEED programme that are likely to effect future sustainability?

16. Contacts University of Wolverhampton Brian Clements Steve Moore 01902 518960 Staffordshire University Prof. Chris Birch 01785 353709