Government launches entrepreneurship scheme

Programme aims to boost economic growth through high-tech innovation


The government has announced plans to launch a new multi-million pound scheme in a bid to increase entrepreneurship in the UK.

Prime minister David Cameron today hosted a meeting at Number 10, which was attended by science and innovation minister David Willetts, communications minister Ed Vaizey and chief executive of technology company Cisco, John Chambers, during which Cisco committed £314m to the British Innovation Gateway (BIG). 

In line with the government’s goals, BIG will mark the start of a five year effort to drive new economic growth through high-tech innovation, fostering an environment of entrepreneurship within the UK. The scheme will include two innovation centres, one in Shoreditch, East London and one in the 2012 Olympic Park, which will support local small and medium sized business in London and around the UK.

Mr Cameron said: “I welcome this major statement of support from Cisco. This will help create many new jobs and opportunities, and support our drive to diversify our economy and generate sustainable economic growth.

“We want to bring together the energy and innovation of Shoreditch and the incredible potential of the Olympic Park to help make East London one of the world’s great technology centres.”

BIG will see Cisco leading five annual competitions which will seek to discover excellence and innovation and will offer access to mentoring for entrepreneurs to accelerate their success in the market.

The government also announced today that UK Trade & Investment has established a programme of monthly clinic sessions with two partners – TechHub and Minibar – in East London, which will provide access to government specialists, who can help start-up companies with advice and business development support, in particular with overseas business opportunities.

© Crimson Business Ltd. 2011

 

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