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 The graduates will take part in a five week training course starting today as part of NESTA’s Insight Out programme, a nationwide initiative designed to help promising entrepreneurs set up businesses across the creative spectrum. At the end of the five weeks, the entrepreneurs will have the chance to pitch their ideas, ‘Dragon’s Den-style,’ to a panel of experts for a share of a £20,000 prize pot. Successful awardees can expect up to £5,000 to finance their next steps.
NESTA is working closely with the University of Teesside and its DigitalCity initiative to deliver the programme in the North East. The ideas selected range from games development to glass design. There is Jeremiah Alexander's company Babel Digital which aims to use innovative computer games as educational tools. Also Suzie Devey-Humpleby who after experience on Channel 4’s The Search, plans to start a creative treasure hunting business.
Over the next five weeks, participants will be encouraged to assess their ideas in terms of their target audience and the relationships they need to build in order to make their business happen; the steps they need to take to bring the idea to market and the level of success the business could be expected to enjoy.
As part of the course, they will receive targeted personal advice from specialists, including lawyers, marketers, and accountants. The entrepreneurs will participate in sessions run by local business development agencies. They will speak to seasoned entrepreneurs about their experiences. Participants will also be encouraged to identify mentors they can work with beyond the duration of the course.
NESTA's previous work with start-ups in the creative industries has shown that the greatest barrier for aspiring entrepreneurs is often having the business skills to develop their bright ideas.
Helen Gresty, Director of Innovation Programmes at NESTA said: “Our work with start-ups in the creative industries has shown us that the greatest barrier for these aspiring entrepreneurs is often having the business skills to develop their bright ideas. If we are to take advantage of the wealth of talent both in the North East and across the UK as a whole – we need to arm these individuals with the knowledge and contacts to take their ideas to market”.
Jeremiah Alexander said: “I’m excited to have been selected for Insight Out. I’m looking to develop the right knowledge and skills to turn my idea into a viable business and NESTA’s support should help me to do this”.
To find out about the next Insight Out programme and programmes in other regions, register your interest by clicking here.
For further information: www.nesta.org.uk
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