Having the space to explore business ideas is something that shouldn’t be underestimated. In fact, the ‘physical environment can significantly impact creativity and innovation’ for both individual and organisational creativity. And this is true for all ages.
Plus X Innovation values creativity and innovation for all, and this is embedded from our culture to the curated design of our space and to our wider local community too.
Which is why Plus X Innovation welcomed 30 students into our Slough hub; to benefit from having a space to be creative, develop their own business ideas, and spend time with inspiring members of our innovation community.
The Younger Startup Landscape
Last year (2023) was a bumper year for startups in the UK with a record-breaking 900k new companies formed. And it's hardly surprising.
The cost of starting a company has never been lower - the internet and social media give instant access to a global market, and it's now seen as ‘cool’, rather than weird, to start your own company.
This has resulted in the startling, yet heartening, fact that 57% of 16-24 year olds want to start their own business.
But diversity for startups is still a problem
Only a quarter of startups have a female founder, and it is estimated that only 5% of SMEs are led by a founder from the global majority. And this is important.
Innovation works best for society when everyone’s voice is represented. Diverse founders have unique lived experience. They bring a valuable perspective to inform which challenges are tackled and how solutions are developed.
The barriers to greater diversity in startups are many and varied, but part of the story for mobility in all sectors is that young people only know what's possible by meeting role models.
This has always been the power of work experience in schools - getting students to engage with professions at a pivotal age to inspire new aspirations and broaden the mental model of what is possible.
Learning To Work – the school experience
We were thrilled to be asked by the social enterprise Learning To Work to be part of a work experience week they organise with schools in Slough. Learning To Work has been providing work-related experience to the local Slough area for nearly three decades. They are committed to giving students an insight into the world of work and helping to set expectations of what employers will require when they enter the workplace.
On a sunny Tuesday in July, thanks to Learning To Work, we were able to open our doors of our innovation hub to 30 local Year 12 students.
Toby Kress, our Programmes Director, gives insight into the day:
“In the morning, they teamed up to develop new venture ideas and deliver a 60 second pitch. To see a room of shy students build their confidence to the point where they were presenting on stage within two hours was amazing. And their ideas were incredible: from utilising AI to reduce loneliness, to supporting victims of violence, to reducing tech fraud. All the ideas were inspirational examples of how innovation can be a powerful force for good in the world.
This exercise is a powerful way to give the students a taste of entrepreneurship and start to develop the mindset which will help them develop fulfilling and aspirational careers – solving problems, developing new approaches at speed, and pushing yourself to take on new challenges.”
In the afternoon the students got to spend time with three founders from the Plus X Innovation community and learn what it takes to start a business for real.
“For some of the students, we hope this is the start of a journey towards starting their own companies and fulfilling their dreams. There was certainly the talent and the passion amongst those we met. For others the attributes of entrepreneurship - initiative, curiosity, passion - will serve them well in other careers.
Whatever they decide to do with their futures, if they continue to embrace new experiences, find things they are passionate about and build their networks they have the potential to go far.
We wish them the best of luck!”
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