Swansea Bay is set to become the first area in Wales to establish a Welsh Enterprise Academy geared to launch a new generation of entrepreneurs.
On a visit to Gower College Business Minister Edwina Hart heard that plans are now advanced to set up the Academy in September 2012 to deliver bespoke BTEC3 courses in entrepreneurship and enterprise.
Students will not only learn about the theories of running a business but also will actually set up their own businesses and trade while gaining BTEC qualifications in entrepreneurship and enterprise.
Mrs Hart was visiting the college to meet members of Swansea Bay Enterprise Consortia and hear about their work to expand entrepreneurship education from primary through to Higher Education.
The consortia is led by Sue Poole, Enterprise Education Manager at Gower College Swansea, part of the Welsh Enterprise Network funded under the Youth Entrepreneurship Strategy.
The enterprise hub is a strong collaboration between education institutions, the Regional Learning Partnership, local authorities and business providing entrepreneurial opportunities for students across Swansea Bay area.
Mrs Hart said she was impressed by the collaborative approach taken to embed a spirit of enterprise and entrepreneurship in young people in Swansea Bay.
“We need to encourage a positive can-do attitude amongst young people which will help their future prospects and the Welsh Government is keen to support and encourage more people to think about starting their own businesses.
“I am very pleased to hear the Consortia is actively supporting the Youth Entrepreneurship Strategy Action Plan for Wales which aims to inspire the next generation of business leaders.”
Sue Poole, who won the UK Enterprise Educator of the Year 2011 award, said it is vitally important that aspiring young entrepreneurs learn what it is like to actually set up a real business.
“It is essential for the young people to actually experience the highs and lows, the cut and thrust of the business world and learn from local business experts.
“The new course will develop a can-do-attitude and a winning mentality which will help them if they decide to be an entrepreneur or work within an already established business, the confidence and self belief will help them be successful in whatever they do in life. “
The Minister also heard that Swansea Metropolitan University produces significantly more successful graduate start-up businesses than other higher education institution in Wales.
Kathryn Penaluna, Enterprise Manager, at Swansea Metropolitan University’s Centre for Creative Entrepreneurship, said that for the second year in a row figures from the Higher Education Business and Community Interaction Survey (HEBCIS), show that more than 300 new companies have spun out from Welsh Universities over the last few years.
In 2009/2010, more than a quarter (77) of these companies were from Swansea Metropolitan University.
“We attribute this to the embedding of entrepreneurial skills into the majority of our programmes and in working in collaboration with Swansea Bay Enterprise Consortia, students are afforded the opportunity to view self employment as a legitimate career choice during both their FE and HE education,” she said.