UCL finds NEF is making ‘an extraordinary impact’
An impact study conducted by UCL found that the NEF was succeeding in new business creation, the encouragement of entrepreneurship, enhancing innovation and developing expertise.
Download the full impact report here
As young professionals look for direction to how to proceed beyond just a business idea, programmes like the NEF helps such individuals grow into the entrepreneurs they aspire to be. An independent impact report completed by researchers at the School of Management at University College London (UCL) this summer found the NEF programme is ‘having an extraordinary impact on the young people participating in it and their ability, opportunity and will to start a new business’.
The Foundation’s objective is to provide bright young-aspiring entrepreneurs with hands-on work experience together with a formal learning and development programme in entrepreneurial start-up skills, personal coaching, business mentoring and access to business networks. The UCL impact report found that it is achieving these goals.
The study found that the NEF was succeeding in new business creation, the encouragement of entrepreneurship, enhancing innovation and developing expertise. Almost 50% of those in the programme over the last three years had ‘live’ businesses by the end of their time with NEF and, furthermore, of those not already running a business, 80% stated they were more likely to do so as a result of the programme.
Umerah Akram, Head of ELITE UK, London Stock Exchange Group said:
“The New Entrepreneurs Foundation must be celebrated for its commitment to supporting the UK’s young and dynamic entrepreneurs. NEF is providing them with the knowledge, skills and confidence to help them create the next generation of high-growth, sustainable companies. And ELITE, LSEG’s innovative business support programme, is the natural next step to support them in their growth ambitions.”
For further information on any of the research, please contact NEF CEO, Neeta Patel, at neeta[at}newentrepreneursfoundation.com