British Council has pioneered number of initiatives to promote graduate entrepreneurship in Sri Lanka. By working closely with the Ministry of Higher Education, University Grants Commission, Vice Chancellors and Lecturers in Sri Lanka and UK’s entrepreneurial universities the British Council is helping to develop policies and programmes to develop entrepreneurship education within universities. University of Northampton has come on board this year as the training and skills partner to enhance the entrepreneurial skills of the young and promising entrepreneurs.
‘HSBC Youth Enterprise Awards’ presented by British Council was officially launched at a press conference held on Wednesday 13 August at the British Council Library. ‘HSBC Youth Enterprise Awards’ is a business plan contest aimed at recognizing and supporting emerging young entrepreneurs in Sri Lankan with seed capital to start up their businesses.
The competition is open to Sri Lankan postgraduates, undergraduates and students aged 16 to 26 years representing universities, private higher education institutions, technical and vocational institutions and professional training bodies in Sri Lanka. Students are encouraged to submit their business ideas as individuals or in teams under any of the given industry categories: creative industries, tourism and hospitality, information technology and telecommunications, engineering, agriculture, Education & Health and Power & Energy.
The business plans will be selected through a screening process which will include interviews with the individuals/teams during which they will be evaluated on their business ideas based on innovation and feasibility.
Winners of the ‘HSBC Youth Enterprise Awards’ will receive cash prizes as seed capital as support in establishing their businesses. The winning individuals/teams will receive LKR 500,000, the first-runner up LKR 200,000 and the second runner-up LKR 100,000. This year two commending awards of LKR 50,000 each will also be presented.
Each winning team/individual will have to take part in a mentoring program organised by the British Council and HSBC. This programme is aimed at nurturing and guiding the students from an idea stage through to the implementation stage of their start-up businesses. The cash prizes will be awarded to the individuals/teams in phases, upon successful completion of the tasks outlined by the mentors during the mentoring program.
A NEW addition to this Programme is the training and skills partner, to enhance the entrepreneurial skills of the young and promising entrepreneurs. University of Northampton is on board this year to support British Council Sri Lanka and HSBC to enhance the quality of this annual project.
In 2010 the University of Northampton set a strategic goal to be Britain's leading university for social enterprise by 2015. In 2013 (two full years ahead of schedule) Ashoka U, the world's leading network of social entrepreneurs, awarded the University of Northampton the international accolade of 'Changemaker Campus', in recognition of their commitment to social enterprise and the excellence of the opportunities this commitment gives to their students.
For more information about the HSBC Youth Enterprise Awards and to download application forms please visit: www.britishcouncil.lk/YEA. The deadline for submission of entries is 15 September 2014.