UK Business Secretary Lord Mandelson says he will focus on entrepreneurs, financial sector, biotech research, Oh, and big businesses too. And auto parts.
They brought the UK economy to its knees, but Cass Business School has launched a center focusing on financial entrepreneurs with £10 million of funds for start-ups, as some business people express doubts about the country's competitiveness.The Peter Cullum Center for Entrepreneurship, which opened yesterday, is named after the founder of one of Europe’s leading insurance companies, Towergate Underwriting. Cullum, a Cass MBA of 1974, provided the £10m seed money, which will be available to start-ups from September this year. He was optimistic that it is: “exactly the right time to launch entrepreneurship.”
New businesses in the UK can seek start-up funds from family and friends or turn to the venture capital industry for large-scale investment said Nick Badman, the chair of the Center. “But between those two sources there is an equity gap which we are seeking to fill through Peter Cullum’s generous fund.”
Badman also highlighted the wide remit of the Center. While you can’t teach someone to be an entrepreneur, he said, it’s crucial to provide talented individuals with a dense supporting network and a mentoring scheme that works. Small businesses succeed, not primarily through fancy marketing and finance, but through teamwork and by realizing the value of different skills. Without a supporting environment, this talent can easily “drop between the cracks”, he said.
Of the top ten business schools in the UK, four now have dedicated centers of entrepreneurship: Cambridge, Oxford, City and Strathclyde.
Lord Mandelson, the UK Secretary of State for Business, Innovation and Skills, acknowledged that Britain lagged behind other advanced economies in funding new businesses, and praised the “guts” of young entrepreneurs “who strike out on their own in a recession.”
Entrepreneurship not only strengthens national compeittiveness, he said, it also drives social mobility, self-determination and diversity in commercial life. It is crucial, he added, to protect not only established businesses, but also those that don’t yet exist: “This investment is as important today as were the roads and canals for the economy of the eighteenth century”.
There were about 2.2 million businesses in the UK in March 2008, according to the Office for National Statistics, up three per cent year-on-year.
One attendee argued that a lot of funds are wasted on low-value start-ups, and that public spending should focus on big industries that boost long-term productivity. Lord Mandelson said the government would fund pre-commercial trials and research in industries such as renewable chemicals and biotechnology. He also spoke of a global economy that values sophistication over scale, where: “It is no longer about making the better car, but a better component of the car”.
However Bruce Garvey, chair of the Cass Entrepreneurs Network, criticized Britain for lagging behind countries like Germany and Sweden in developing new technology and engineering expertise. “The British economy overemphasizes the service industry”, he said. He suggested that as well as focusing on financial services, the new Center should collaborate with City University at large on high value-added technical innovation.
Nick Badman said that while only three per cent of Cass graduates currently set up their own businesses, the rising proportion of students from overseas: over 40 per cent, often from families that run their own firms, means that the school is rapidly becoming more entrepreneurial.
Badman also defended the Center’s financial focus: “At a time, when some people are a bit... schizophrenic about the City, Cass is not.”
Student Reviews
Best Journalism school in Europe
When I first stepped onto the campus of City, University of London, I knew I was in for a ride - and not just on the Tube! With its vibrant energy and an impressive repertoire of programs, City U became my home away from home.
The Journalism program was kind of a big deal. Rumour was that we were the best in Europe!
The lecturers were not just experts in their field; they’re practically journalistic royalty. They were invested, passionate, and had a knack for turning the most flat press release into a riveting news story. With their guidance, I’ve learned to navigate the chaotic world of media like a pro.
The campus was a melting pot of every culture, being that we had such a diverse international crowd.
Being in the heart of London, I had the world at my fingertips - there was always a new corner to explore, a hidden gem of a cafe to discover, or a street performer!
City, University of London wasn't just a university; it was a chapter in my life story that I’ll never forget.
Learning environment
The teacher-learner ration is manageable, giving each learner a chance to gain personal attention. It is also easier following up on the progress of a student, as the numbers per class is not large. the conducive environment for learning includes clean classes, standard desks, world class instructional facilities and the opportunity to engage lecturers even after their sessions. The team spirit at City is above board, with learners getting chance to learn both from instructors and colleagues. This is the university of choice; the place to be.
Classes
I liked that each class had a manageable number of learners, making the professor-learner ratio favor knowledge acquisition. I also liked that study schedules were manageable, and not overwhelming. The focus on talents and gifts even within the learning environment makes it possible for learners to achieve the best of their potential, and this has worked to the advantage of those that have schooled at City, University of London
Classes
The diversity at City University facilitates interactions and is a direction toward the unity of the world. The classes are well built to match the number and needs of all students regardless of the elements of diversity that set people apart. The use of technology in delivery makes learning even more interesting and achievable. At City University there is no distinction pegged on the issues that make people unique.
professors
The team of lecturers at the Uiversity are well experienced. Their level of insight and the methodologies of delivery works for the interes of the leaeners. My learning experience was largely boosted by the level of knowledge of the professors at the institution, and their passion to transfer the same to learners. I appreciate every class I attended because of the level of insight I was able to gather
The best university I’ve been to
The campus and the people I've met have made it a wonderful experience. I was reared in a small town with a graduating class of only 88 individuals, so moving to City University was a huge adjustment for me. My dorm has more residents than my whole high school combined! I enjoy the atmosphere here, and everyone is so friendly. Outstanding academic options and a stunning campus. Really great from beginning to end. The educators genuinely love what they do, and the students are ready to learn. On or around college, there is always something to do with friends, and the social scene is particularly warm.
Bayes Business School
As a student at City university attending Bayes Business School I would totally recommend choosing this university as the experience is exceptional with great social networking opportunities . Professors are significantly helpful, delivering with excellence and professionalism. Everyone is happy to help and make you feel welcomed in such an esteem university as City, offering exceptional development and guidance through out the course.
Economics and Politics
Incredibly amazing university, the way they polish students and help them boost their morale and think intellectually is worthwhile. Many universities have international partnerships to allow exchanges between their students. The most obvious subjects for these opportunities would be those that involve languages, and the study of people and places.
Clinical biology
I really like it it’s perfect for me with not too many people and not too few either. All the modules are amazing. I love the toy bar. I love all the societies that I’ma part of. Especially the colour Bollywood society
Unlocking My Potential at City University London
My time at City University London was truly transformative. The university's vibrant community and diverse extracurricular activities allowed me to forge lifelong friendships and professional connections that extend beyond the classroom. I was impressed by the university's commitment to academic rigor, character development, and personal growth, which created an ideal environment for me to reach my full potential. The research-driven and industry-relevant curriculum provided me with a solid foundation in international business, while the dedicated faculty and staff offered invaluable guidance and support. I feel grateful for the well-rounded education and holistic experience that City University London offered, preparing me for success in my career and beyond.
Rather interesting
The academics are tough, but in a good way. The professors are experts in their fields, so you know you’re learning from the best. They push you to think for yourself and really dive deep into the subjects. But it’s not all about hitting the books; London itself is like an extension of the campus. You’ve got museums, galleries, and just the general buzz of the city to keep you inspired.
Urban campus life
At the University of London, I have experienced dynamic and diverse academic environment where I was challenged by rigorous coursework. You will have the flexibility to choose from the wide range of courses, participate in numerous extra-curricular activities and take advantage of the many opportunities
