‘Startup superstar’ scheme to boost entrepreneurship among graduates

Policy Exchange has released a technology manifesto which calls for businesses to play a bigger role in fostering entrepreneurship in the UK, and to do this by supporting a ‘startup superstar’ scheme.

The scheme would see the UK’s leading companies paying graduates to try and set up their own business. The employer would take an equity stake in the startup and would guarantee a job for the graduate should the startup fail within two years.

The report says that instead of criticising people for trying to launch new enterprises, failure should be seen as a positive thing, fostering a culture of innovation that will eventually lead to successful, new wealth creating businesses.

Eddie Copeland, author of the report, said: “To make Britain the most attractive place outside of Silicon Valley for technology entrepreneurs to start and grow a business, we need to encourage our brightest and our best to take risks. Companies should see the benefits – both to their bottom line and the development of their staff – of joining the ‘start-up superstar’ scheme.”