Young Entrepreneurs Scheme
The Young Entrepreneurs Scheme (YES) is a family of innovative competitions developed to raise awareness of the commercialisation of ideas among researchers.
The competitions aim to encourage an entrepreneurial culture in the UK postgraduate and postdoctoral base for the benefit of the UK economy.
The competitions are typically run over three days. In the morning of the first two days, researchers, grouped into teams of four or five members, hear from leading industry figures on a number of topics.
4,673 early career researchers have taken part in the various Young Entrepreneur Schemes since 1997.
Young Entrepreneurs Scheme workshop topics:
• The requirements of a business plan
• Intellectual property and patenting strategy
• Raising and managing finance
• Commercial and marketing strategies
• Company case histories
This knowledge is then utilised by the researchers to prepare an oral business plan presentation for a hypothetical company. The plan is prepared by the team in the afternoon of the first two days with each member assuming a different role within the company (e.g. managing, finance, research and development, marketing or operations).
On the final day the participants make a formal oral presentation of their business plan before a panel comprised of business, financial and academic representatives taking the role of equity investors.
Winners of the competition receive cash funding with other prizes also available.
There are several YES competitions for specific research areas:
For more information about the YES programme, contact Tracey Hassall-Jones.