Cable welcomes entrepreneurial 'upsurge'

Growth in university enterprise societies marks a change

May 2, 2013

The government is close to achieving its goal of having an enterprise society in every university, with the number of such groups growing more than tenfold in four years.

In 2009 there were 12 enterprise societies in UK universities and colleges, but there are now 130.

Vince Cable, the business secretary, recently told an event that “within the next year or so almost every university will have one”.

He was speaking at Start-up: a Story, a forum hosted by the University Alliance and the National Consortium of University Entrepreneurs, which was held in London on 16 April.

In 2011, the coalition committed to help create an enterprise society in every university and at least 160 colleges as part of a package of measures to support small businesses and entrepreneurship.

The University Alliance and the NACUE said turnover from graduate start-up companies more than doubled between 2008 and 2010 to £0 million, but called on the government to build better links between universities and funding schemes to support budding entrepreneurs.

Those aged between 18 and 30 can access a loan of around £2,500 through the government-backed Start-Up Loans scheme, although the project has been criticised for being slow to get off the ground.

Mr Cable told the event that the rise of such societies showed how radically the attitude of universities towards business had changed.

When the University of Warwick decided to establish a business school in the 1960s, “this became a focus for student protests around the country. The university was blockaded; [the business school] was considered an absolute outrage”.

There was a view that business schools would “corrupt the system” and “must be stopped”, Mr Cable added. However, there was now an “upsurge in entrepreneurial activity across the university sector”, he said.

“One of the big things that is happening…is not just students discovering entrepreneurial activity but universities [also] realising that their future in many cases lies with their local community, including their business community,” the minister added.

david.matthews@tsleducation.com

You've reached your article limit

Register to continue

Registration is free and only takes a moment. Once registered you can read a total of 6 articles each month, plus:

  • Sign up for the editor's highlights
  • Receive World University Rankings news first
  • Get job alerts, shortlist jobs and save job searches
  • Participate in reader discussions and post comments
Register

Have your say

Log in or register to post comments

Most Commented

question marks PhD study

Selecting the right doctorate is crucial for success. Robert MacIntosh and Kevin O'Gorman share top 10 tips on how to pick a PhD

India, UK, flag

Sir Keith Burnett reflects on what he learned about international students while in India with the UK prime minister

Pencil lying on open diary

Requesting a log of daily activity means that trust between the institution and the scholar has broken down, says Toby Miller

Application for graduate job
Universities producing the most employable graduates have been ranked by companies around the world in the Global University Employability Ranking 2016
Construction workers erecting barriers

Directly linking non-EU recruitment to award levels in teaching assessment has also been under consideration, sources suggest