London Met’s Challenge Prize

Aside

London Met runs a Challenge Prize in social enterprise for students in a number of FE Colleges across London

Recently three students were named the winners of the Big Idea Challenge, one of the UK’s fastest growing social enterprise competitions, run by London Metropolitan University. One an Italian and two Spanish – received a prestigious award from His Royal Highness The Duke of York in St James’s Palace.

Their idea? To modify an iconic London bus to create a mobile support centre, complete with showers, for the capital’s homeless. ‘Fresh Start: the bus that changes lives’ will now go forward to implementation – the prize for winning the Big Idea Challenge. Corporate sponsors are being sought to fund it, and the bus will soon be on London’s roads, making a real difference to real lives.

The recent Higher Education and Research Bill sought to challenge universities to work in new ways with schools and colleges, with closer relationships with business as part of the Industrial Strategy.

The Big Idea Challenge aims to get entrepreneurial spirits to come up with solutions to some of societies biggest problems. This year, London Met decided to extend its Big Idea Challenge to 17 colleges of Further Education across the capital.

The teams who progressed from the first round were brought to RBS’s headquarters in Liverpool Street and matched with inspirational mentors from the business world, such as Microsoft, RBS, Unilever and The Prince’s Trust, to develop their idea into a viable business.

John Whatmore, June 2017

 

Advertisements

To Accelerate or not to Accelerate: that is the question

Aside

While it will be impossible for some time yet to prove that Accelerators are effective, the likes of Google and Microsoft are busily betting on their future.

Nothing better illustrates the dilemma that innovators face than the fact that it will be impossible for several years yet to prove the value of Accelerators – short periods of intensive development for selected cohorts of teams, working closely together, along with a host of supporters – yet it is a model being rolled out by leading companies.

Engagement, enthusiasm, funding, alumni and followers all give a rosy feeling to the Accelerator concept; and in spite of their rapid proliferation in the UK and Nesta’s admirable financial support of early adopters, Nesta’s experts are deeply cautious about its future.

Yet September saw Google announcing that it is building a network of tech entrepreneurs in seven North American Cities. A spokesperson commented that they have been incredibly impressed with the catalyzing impact that tech hubs have had – helping startups to grow, and creating jobs in local communities in the process. The aim is to ‘create a strong network, providing each hub with financial support alongside access to Google technology, platforms and mentors, and ensuring that entrepreneurs at these hubs have access to an even larger network of startups.’

September also saw Microsoft offering technology startups in the B2B, consumer and gaming sectors the chance to apply for its Accelerator programme in London. The chosen entrepreneurs will take part in a 12-week programme to help grow their businesses through mentorship, access to resources and technical assistance. The Accelerator is looking for 10-15 startups developing technologies in financial services, electronic retail and commerce, gaming, big data or enterprise software. Microsoft will not be taking any equity in the companies, but will maintain relationships with startups through an alumni programme after they “graduate” the Accelerator. During its pilot the Accelerator will be based at Central Working in Shoreditch.

Microsoft also feels that startups are suffering due to a severe skills shortage. The companies are struggling to find talented developers to work with in the UK, which is preventing business growth. This developer shortage can be blamed on the increase in B2C companies that have ventured into the software business taking the talent with them. Microsoft actively tries to solve these problems by running roundtables and workshops to introduce developers to new Microsoft technologies.

Despite the skills shortage there does not seem to be a shortage of energy in the developer ecosystem. “There’s still plenty of buzz and excitement around it.” And that is the dilemma.