CFE and New Entrepreneurs Foundation launch “entrepreneurial powerhouse”

Made possible by a donation of nearly £1m over three years by LetterOne, the combined entity will look to train the next generation of entrepreneurs

The Centre for Entrepreneurs (CFE) has joined forces with the New Entrepreneurs Foundation (NEF) to create a new combined not-for-profit “entrepreneurial powerhouse” to tackle some of the challenges that are holding back the wider take up of entrepreneurship in the UK.

The new combined entity will look to train the next generation of UK entrepreneurs to:

  • realise their potential
  • start businesses
  • create jobs
  • deliver original research to identity potential barriers to entrepreneurship
  • bring together organisations to devise programmes to address said barriers
  • input into UK policy around entrepreneurial support.

Managed by Neeta Patel, CEO of the NEF, the initiative is made possible by a donation of nearly £1m over three years by LetterOne, the international investment business, co-founded by entrepreneur Mikhail Fridman.

The NEF will focus on delivering its successful future entrepreneurial leaders development programme – which looks for the UK’s brightest, most entrepreneurially minded young people and provides them with the UK’s leading training programme.

Since NEF’s launch in 2011, nearly 200 young entrepreneurs have gone through the fast track programme, launching 92 new businesses, raising £27m in funding, and creating over 1,000 new jobs.

The CFE will promote the role of entrepreneurs in creating economic growth and social well-being.

It will maintain its entrepreneur-related research, the CFE Founders Club and best practice networks including the CFE Prison Entrepreneurship Network and the Incubator and Accelerator Network.

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Neeta Patel, CEO of the New Entrepreneurs Foundation, said:

“We want to encourage more people, particularly women and students, to see entrepreneurialism as a natural career choice and enable them to realise their potential and start businesses.

“By combining our expertise – in NEF and CFE – as a leader in entrepreneurial training and socio-economic research – we are well placed to more actively champion, support and develop the economic and social case for entrepreneurship in the UK”

Luke Johnson, founder of the Centre for Entrepreneurs, added:

“The UK has a strong track record of entrepreneurial achievement.

“In the past decade alone, the country has broken all previous records in terms of company formation and is well ahead of its peer economies. Yet, we believe it can go further.

“By bringing the Centre for Entrepreneurs and New Entrepreneurs Foundation together we will have the scale to undertake research, campaigns and programmes to tackle some of the long-term challenges holding back entrepreneurship in Britain.”