Welcome to the iCUE Blog, where we cover key developments, events, and information of interest and chronicle and celebrate the progress made by iCUE Members across the world. To contribute to our blog, email Tobias.Hug@icueonline.com.
Global Youth Entrepreneurship:
Creation, Inspiration and Growth
Last June, a secondary student team from the Greenhead College, with their innovative eco-friendly cab-sharing business plan, won the Innovation and Entrepreneurship Global Student Challenge 2011 organized by Hong Kong Polytechnic University. Those young ‘entrepreneurs-to-be’ had a short but fascinating talk with Professor Alan Barrell, who worked as an advisor and judge of the final competition and engages himself in the growth of youth entrepreneurship in ‘a world without borders’.
The PolyU Innovation and Entrepreneurship Global Student Challenge is a business plan competition held every two years in Hong Kong, the significant financial centre and gateway to Greater China. The competition aims to discover as well as inspire creative individuals, providing an opportunity for them to explore their business potential, and a unique platform for the young participants from all over the world to share not only their business ideas but the spirit of collaboration, culture, and dream.
Professor Alan Barrell also talked about entrepreneurship with Winnie Eley —the founding Director of International Affairs at the Hong Kong Polytechnic University—when the PolyU team visited Cambridge. This discussion shows Professor Barrell’s view towards entrepreneurship: entrepreneurship is a way of thinking regardless of age and chance. It is about change, the positive change in all dimensions. It is about innovation, creativity, and the possibility of changing the world. Obviously, as one of the largest universities in Hong Kong, PolyU acts as a pioneer of manifesting and developing this idea. The university plays a crucial role in researching and developing youth entrepreneurship, as well as creating an access to the business world not just for new start-ups in Hong Kong, but all of the young entrepreneurs in Asia and the globe.
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n fact the world has already been in a changing era, which is accelerated by the unprecedented high-tech progress together with a strong calling for global communication and cooperation. Young people are increasingly realizing their power to develop their own creative thinking, to turn the idea into reality, to connect personal interests with future career. Meanwhile, they urgently need the support from various parties of the society—governments, NGOs, universities, and other experienced entrepreneurs. They need a national or even multi-national network of their own, which enables its members to expand connections with policy leaders, venture investors and business angels in specific interest area, to obtain help and guidance from the professionals, and in which members can get a sense of mutual understanding and an improved atmosphere of collaboration among people with similar objectives.
That is exactly what the international Consortium of University Entrepreneurs (iCUE) is creating, establishing, and contributing. iCUE provides its members with professional advisory support, consulting service, guidance in organizational development and network building. It also conducts a series of workshops, conferences, and annual global summits to cultivate the entrepreneurial ecosystem in the respective countries of its members. The organization acts as a bridge connecting young entrepreneurs and the social assistance which they need, an important representative voice on the international economic/entrepreneurship forum speaking for those new-comers who just get into the business world.
Nowadays iCUE has more than 18 member organizations across the world. In September 2011, CCUE (China) was officially launched and will work as a significant partner of iCUE in China and Asia. In the coming yearx, there will be more and more student entrepreneurs starting their own business and their own career with the help of iCUE, which is spreading the seeds of youth entrepreneurship and innovative thinking all over the world.
UK: British Government Supports NACUE to Drive Student Enterprise
- Government to boost young enterprise and encourage a new wave of student entrepreneurs with significant investment in university enterprise societies
- Innovation fund will award individual university enterprise societies up to £8,000 to kick-start entrepreneurial activity on campus
- National Consortium of University Entrepreneurs becomes National Association of College & University Entrepreneurs, rolls out project to all universities and colleges in England
Minister for Business and Enterprise Mark Prisk today announced significant government funding to boost young enterprise and encourage a new wave of student entrepreneurs at a time when graduate jobs are at an all-time low.
The announcement will launch a nationwide project to expand enterprise societies across universities and colleges in the UK to encourage entrepreneurialism amongst students. The initiative, led by The National Association of College & University Entrepreneurs (NACUE) and supported by the Department for Business Innovation & Skills (BIS), aims to give every college and university student in England access to an enterprise society by 2015.
Mark Prisk, Business and Enterprise Minister, said: “We want to grow the next generation of entrepreneurs by ensuring that young people get hands-on experience of enterprise at college and university. I am pleased to offer my support to NACUE and its partners as they drive forward this project to give students valuable experience that could help them set up their own businesses in the future.”
NACUE has secured an initial grant of over £500,000 from BIS to achieve its goals of empowering enterprise societies and stimulating student-led enterprise. With the guidance of a BIS-appointed steering committee, which includes UCL, the Association of Colleges, the Institute for Small Business & Entrepreneurship, and Enterprise Educators UK, NACUE will raise the number of university enterprise societies from 59 to more than 90, create 60 college enterprise societies, and provide enterprise society access for a minimum of 160 colleges, within 4 years.
Hushpreet Dhaliwal, NACUE CEO, said: “Enterprise societies on campuses across the country are delivering transformational change to the enterprising culture and skill set of students. We are delighted to work with BIS to extend our support to the societies and staff, who are delivering immeasurable value to tens of thousands of students at the grassroots. For the coming generation, societies are elevating entrepreneurship as a recognised career option for all.”
The announcement was made today as part of the NACUE-BIS partnership at The National Jump Start, a Global Entrepreneurship Week event co-hosted by NACUE and enternships.com, sponsored by Tata.
Speaking at the event, Rajeeb Dey, CEO of Enternships.com said: “Entrepreneurs are the catalysts of our economy and by encouraging students to look at entrepreneurship as a viable career path we can inspire graduates to become the job creators of tomorrow.”
NACUE will play a critical role in sustaining and developing the university and college enterprise society model. The organisation will provide development and training for society leaders and members, including regional training events, conferences, mentoring, and a host of other tools to enable enterprise societies to spread and grow to their full potential.
As part of the push to kick-start the societies, NACUE will set up an Enterprise Society Innovation Fund to reward student-led societies by matching private sector investments that they secure. The awards range from £1,000 to help launch a society to £8,000 for those that need larger investments for setting up accelerators, incubators, and profitable projects.
Full press release here.
iCUE Seeks Founding Benefactors
NACUE Seeks Founding Sponsors & Benefactors
Over the course of the last two years NACUE has developed into a world class national charitable organization fueling student entrepreneurship across UK further and higher education institutions. NACUE has been a critical founding partner and incubator of the International Consortium of University Entrepreneurs (ICUE) and is now delighted that ICUE is ready to stand on its own as the international consortium of student enterprise support organizations across the world.
Since its first Global Round Table in May 2010 in London, ICUE has now expanded to over 15 countries, has presented at the World Economic Forum in Brussels and the UNDP in Geneva, and has made significant strides in supporting the development of NACUE China and similar organisations in Spain, Vietnam and India.
At this critical stage in our development, we are looking for Founding Benefactors and Founding Sponsors to help us to realise our vision as an independent entity outside of NACUE. Whether you are a NACUE Alumni, University Partner, Corporate Partner, Entrepreneur, Investor or a friend of student enterprise from any part of the world, we welcome your support.
Please Click here <iCUE – Value Proposition> to find attached a document outlining our vision and value proposition to those who want to support the global youth entrepreneurship movement via ICUE and leave their legacy for the next generation of young entrepreneurs.
We are looking for only a few Founding Benefactors and Founding Sponsors to contribute toward the development of ICUE before September 2011. We wish to re-launch in Global Entrepreneurship Week and run our 3rd Annual Global Round Table in London in the Spring in partnership with, and in the spirit of, the London 2012 Olympics. All founding Benefactors and sponsors will be highly elevated in all of our online and offline materials, will be profiled internationally across ICUE member organizations, and will be given the opportunity to engage directly in our global events with ICUE delegates and leaders from across the world.
Please help us to realize our vision and email me today to express your support as a Founding Benefactor or Sponsor of the International Consortium of University Entrepreneurs.
In the spirit of enterprise,
Victoria Lennox
Co-Founder and Chair
