Warwick in new social entrepreneur initiative

The University of Warwick has been selected to be involved in a new initiative which aims to develop and grow social entrepreneurship in higher education institutions (HEIs).

Staff and students who have ideas for creating a social enterprise will be able to bid for funding and support, enabling them to test out or grow their entrepreneurial ideas.

The new higher education support programme is a joint initiative from the Higher Education Funding Council for England (HEFCE) and UnLtd – a charity which supports social entrepreneurs. The programme will aim to provide funding and support for Warwick staff and students alike.

UnLtd will work with Warwick, as well as 55 other HEIs, over a period of 18 months, in an effort to develop the university’s support structures into systems which will make it easier for social entrepreneurs to get started and succeed.

Each HEI will also receive private sector support from UnLtd Connect, linking them with a network of local businesses and experts in the relevant areas.

Two types of funding awards will be available. The first type is the Try It Awards; these will offer small amounts of funding for individuals to test their ideas.

The second form of funding is the Do It Awards; these allow individuals to further develop an entrepreneurial idea. People can progress to this after previously receiving and proving successful with a Try It Award. Others can come straight in at this level, providing they have the energy and skills deemed necessary.

Sue Bennett, Director of Student Careers and Skills, said: “I am very pleased we have won this funding and support from UnLtd and HEFCE as it will enable Warwick to encourage potential staff and student social entrepreneurs to develop their ideas into fledgling businesses.

“During the project we will create and embed the systems, tools, processes and methods that encourage social enterprise. I am delighted that colleagues from the Science Park and Warwick Ventures will provide time and expertise.”

Gabriella Fryman, third-year Morse student, said: “I think this is good for the staff and students as it encourages out of the box thinking and allows for personal development.”

The scheme will be up and running in October, interested parties can look out for more information on the Student Careers and Skills website or Warwick Insite. This will include invitations to bid for funding.