SEET Study VisitCymru 2009

Elin McCallumEnterprise Education Manager Welsh Assembly Government

3 Priorities

• To start, sustain and grow businesses in Wales by providing an inclusive, focussed and tailored support for businesses

• First class customer service for all business support provided by the Welsh Assembly Government

• Enterprise education to develop and nurture self-sufficient, entrepreneurial young people in all communities across Wales, who will contribute positively to economic and social

Enterprise education to develop and nurture self-sufficient, entrepreneurial young people in all communities across Wales, who will contribute positively to economic and social success

Making the links

ACRO skillsand attitudes

Businesscreation

Enterprise experience

Careeraspirations

One Wales Commitment

Create links between entrepreneurship and

education

YES Action Plan

Strategic objective

Impact

Desired outcomes for young people

AWARENESS

To inspire and develop an entrepreneurial culture

Social

Motivated to consider business creation as a career option

Recognition of the value of business as wealth-creating, exciting and rewarding

Reduced barriers to enterprise

The relevance of being entrepreneurial understood and valued

LEARNING

To increase entrepreneurial experience, capability & ambition

Learning

Entrepreneurial competencies and knowledge of business creation

Opportunities to apply entrepreneurial skills

Act on ideas and demonstrate entrepreneurial behaviour

Greater participation and take-up of enterprise activities

SUPPORT

To stimulate the creation & growth of business

Economic

Clear access to appropriate business support

Individuals setting up and creating businesses and social enterprises

Entrepreneurs with growth aspirations

Entrepreneurship Champions (EC’s)

EC’s at every college and university in Wales

Dynamo FE/HE Funding 2008 -2011

Three levels of funding

• Level 1 funding of £10,000 per annum to each institution

• Level 2 funding of £45,000 per annum to consortia

• Level 3 discretionary funding available to support the embedding of entrepreneurship across Wales

Dynamo Level 1 Funding

Level 1 funding of £10,000 per annum is available to all institutions. It is intended to enable institutions to:

• maintain a single point of contact• attend national and regional networks • co-ordinate discretionary funding applications• maintain a channel for entrepreneurship communication• provide data on entrepreneurship• signpost graduates to the Flexible Support for Business• promote and co-ordinate Dynamo Role Model presentations in their

institution• manage legacy scholarship commitments

In addition institutions may seek discretionary funding for specific activities e.g. GEC, Enterprise Week Events, Student Interns or conferences

Dynamo Level 2 Funding

Level 2 funding of £45,000 per annum provided to consortia. It is intended to:

• support lead institutions to manage their contractual commitments• deliver against a three year vision for their consortium• act as regional hubs of entrepreneurship• encourage collaboration• promote a consistency of approach• provide institutions with the opportunity to consider bespoke solutions • encourage innovative ways of working and provide tailored flexibility

This list is not exhaustive, any reasonable request that supports the embedding of entrepreneurship can be considered

.

Dynamo Level 3 Discretionary Fund

Intended to:

• Support the embedding of entrepreneurship within Further and Higher Education Institutions across Wales

• Facilitate the delivery and sharing of best practice

• Support institutions to improve their capacity to promote entrepreneurship

• Test out new ways of promoting and delivering entrepreneurship education

• Support students and graduates from FE and HE Institutions to overcome barriers to starting up in business

Evaluation Criteria

• Clear vision with defined milestones

• Evidence of collaborative working

• Value for money

• Outputs Robust measurement &

• Impact evidence mechanisms

• Innovation

• Communication

• Evaluation and dissemination

Finally

The road to success is always under construction’

- ANON

Impacts

• Consistent upward trend amongst young people under 30 who wish to be their own boss, from 41% in 2001 to 56% in 2008

• GEM (2007) provides clear evidence that involvement in entrepreneurship education substantially increases the likelihood of involvement of individuals in entrepreneurship, particularly activity in HE

• HEBCIS (2007) survey reports graduates in Wales establishing 11% of all UK graduate start ups with only 5% of the student population

• 1200 graduates supported to start a business in the last 5 years and 600+ KEF financial Scholarships awarded. These companies contributed £22million to the Welsh economy in 2007

Early Stage Entrepreneurship in Wales

Early Stage Entrepreneurship (TEA Rate) 2008: Wales & UK

0

1

2

3

4

5

6

7

8

9

18-24 24-35 34-44 45-54 55-64

% o

f A

du

lt P

op

ula

tio

n

Wales UK

SEET Study VisitCymru 2009