Backing young people to become entrepreneurs
Young entrepreneurs will be supported to turn their ideas into successful businesses through a new Scottish Government programme. The First Minister’s Start Up Challenge will empower young people aged 18 – 30 from disadvantaged or underrepresented backgrounds to start innovative businesses.
Delivered in partnership with The King’s Trust and social enterprise Dechomai, around 20 participants will be selected for a six-month accelerated entrepreneurial apprenticeship. This will provide tailored support and access to masterclasses, workshops and hands-on experience.
Participants will receive a £500 “Test Your Business” grant, with those ready to launch eligible to apply for a £5,000 start-up grant. At the end of the programme, one winner will be awarded £30,000 to dedicate a full year to developing their business.
First Minister John Swinney said: “I am unashamedly ambitious for Scotland’s young people and want to ensure my government leaves no stone unturned in supporting them to achieve their ambitions.
“That is why I am excited to be launching the First Minister’s Start Up Challenge which will help unearth and expand the creative entrepreneurial spirit that stretches across Scotland.
“This will provide vital support, including mentorship from those who have built their business, and funding to young people to set up their own business.
“It will not only be life changing for the young people taking part but will have a ripple effect across the country – inspiring entrepreneurial spirit, creating a constant flow of future founders and strengthening Scotland’s’ position as a nation of innovation and enterprise.
“Attracting investment into the country whilst reinforcing Scotland’s emerging reputation as a fast-growing entrepreneurial economy, will be crucial to achieving my key priority of growing the economy while also ensuring we can invest in our other vital priorities such as eradicating child poverty. We’ve long been an innovative and entrepreneurial country and this investment will ensure the next generation can set up the businesses of tomorrow.”
The Kings Trust Director of Delivery (Scotland) Lou Goodlad said: “”The King’s Trust is delighted to partner with the Scottish Government and Dechomai to deliver The First Minister’s Start Up Challenge.
“This programme builds on our collective experience supporting young people to start their own business, and together, it will empower young people facing barriers to self-employment. Participants will benefit from a bespoke programme and access to grant funding to help scale their businesses.
“This unique initiative will make a significant contribution to Scotland’s economy, offering young people an incredible opportunity to unlock their entrepreneurial potential. We’re excited to play a key role in the First Minister’s Start Up Challenge and to support the next generation of entrepreneurs in Scotland.”
Founder of Dechomai Bayile Adeoti: ““Working alongside The King’s Trust to deliver the First Minister’s Start-Up Challenge for the Scottish Government is an incredibly exciting opportunity for Dechomai and for the work we do across Scotland.
“At Dechomai, we believe that real and lasting impact happens when founders, educators, communities and institutions come together to build collaboratively.
“The Start-Up Challenge represents what’s possible when we invest in young people and take a genuinely place based and person-centred approach to enterprise and opportunity.
“Partnering with The King’s Trust is also a deeply personal milestone for me. As a former Prince’s Scottish Youth Business Trust grant recipient, this feels like a full circle moment and a powerful reminder of the importance of belief, access and collective effort. We’re excited to help shape a future where more young people across Scotland can see themselves as founders, leaders and changemakers.”
