More than 70 entrepreneurs and their supporters, backed by Staffordshire University and bet365’s Peter Coates, heard that “wealth creation” is the key to the county’s future prosperity.
A celebration event at the university’s Catalyst building in Stoke marked a milestone for the first cohort of business people to complete the Peter Coates MSc in Entrepreneurship – and welcomed the second bigger group.
Congratulating the new businesses on their achievement, university Vice-Chancellor Martin Jones said: “This is more than a place of hope and opportunity – it is a place where dreams are made and success is real.
“Staffordshire has a rich history in entrepreneurship – from the vision and legacy of Josiah Wedgwood right through to the modern-day success of the Coates family who have built a multi-million pound company, based here in Stoke-on-Trent, which employs more than 5,000 people here in the UK.
“As a university committed to being a catalyst for growth and regeneration in our regeneration in our region, we are delighted to be partnering with the Peter Coates Foundation on this unique programme.”
Next week entrepreneurs from the first MSc cohort will pitch business ideas to the Peter Coates Foundation for either a £20,000 growth grant – designed to support smaller businesses – or up to £200,000 equity investment in their business idea.
Successful individuals and teams will also get the opportunity for ongoing mentoring and start-up support, as part of the Peter Coates Fast Forward programme
Max Thowless-Reeves, of wealth management business the Sorbus Partnership, and on behalf of the Peter Coates Foundation, said the programme had been set up to encourage new business start ups, especially involving people who might not otherwise have an opportunity to launch a company.
He said: “Wealth creation is what will drive Staffordshire’s future, and entrepreneurs are the people who create wealth.”
The expanding programme will recruit more entrepreneurs each year, and speaking to the university’s Horizon magazine, Max said: “Stoke-on-Trent and North Staffordshire will be re-energised with this perpetual stream of new businesses. These are the building blocks that will create an expanding eco-system of high-quality jobs and opportunities.
“The impact of this legacy is not short term; it is intended to last for decades, even generations.”
• Look out for the results of the entrepreneurs’ pitches in Daily Focus.
