Graduate start-up scheme earns Mandelson backing
A Lancashire initiative to tackle the problem of growing graduate jobless levels by helping budding entrepreneurs has won the backing of Business Secretary Lord Mandelson.
The Government minister has praised the pioneering Create unit set up by Lancaster University's Student Union.
Graduates who have used its support have set up a number of out-of-the-ordinary businesses that include a high-altitude photographic company and an American-style cheerleading club.
At a time when graduate unemployment is falling, Create, in partnership with the university's Research and Enterprise Services, aims to buck the trend.
Create's work, backed by the Higher Education and Innovation Fund, has so far helped launch more than 30 start-ups.
Lord Mandelson said: "I think entrepreneurship and employability skills should be a core part of every university's offer to their students – and approaches like this help to do that.
"By providing students with the opportunity and support to take forward their business ideas, they play a vital role in establishing the businesses of tomorrow. And they help students acquire the skills to build their future careers."
Create has awarded start-up grants totalling 14,000, as well as other support for fledgling businesses. It has also helped existing SMEs in the region increase sales and safeguard jobs.
Michael Payne Lancaster University Students' Union president and chair, said: "The upward trend of graduate unemployment is worrying and we are doing our best to help the situation. The students have some fantastic ideas and are full of enthusiasm."
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Wednesday 08 February 2012
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