Recommendations: 39, 40

Recommendation 39: We recommend: to the Government that it considers establishing a modest fund to provide equity funding to institutions to support members of staff or students in taking forward business ideas developed in the institution, and to support the creation of incubator units; to higher education institutions that they establish more technology incubator units within or close to the institution, within which start-up companies can be fostered for a limited period until they are able to stand alone.

6.4 The Government has acknowledged the need to increase the commercialisation of research and knowledge and already supports various incubator schemes, together with measures designed to ensure that companies once formed survive and grow. The Committee’s proposals for equity funding and incubator units are being considered with other options as part of the Comprehensive Spending Review.

Recommendation 40: We recommend to higher education institutions that they consider the scope for encouraging entrepreneurship through innovative approaches to programme design and through specialist postgraduate programmes.

6.5 Last year DfEE launched the Higher Education and Employment Development Prospectus. This invited bidders from England to submit proposals for development projects in specified areas, including Graduate Business Starts. DfEE is now funding five projects in this area at a total cost of £0.4m. Experience gained from these projects over the next two years should make a significant contribution to promoting entrepreneurship within higher education.

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