Student enterprise fund launched
A fund to support the next generation of entrepreneurs is being launched at Coventry University. The Coventry University Student Enterprise Fund will support new businesses with investments of £3,000 to £5,000.
The fund was created by the university’s Chancellor Sir John Egan who said he wanted to “encourage entrepreneurship by giving financial support to fledgling student businesses when it is needed most”.
The fund will support the establishment of new businesses across all academic disciplines through investments normally in the range of £3,000 to £5,000. Up to £30,000 could be invested in projects with “an outstanding proposition”, said the university.
Sir John said: “I am concerned that our UK universities will fall behind internationally as a result of reductions in public sector funding and limited access to development funds from the EU. I am very keen to make this initiative a success, not just for the university, but for the region as a whole.”
The loans are secured on the understanding that they are paid back once the business is fully operational. The money will then go back into the fund to support the next wave of new businesses.
