Pioneers of inclusive enterprise

PIONEERS OF INCLUSIVE ENTERPRISE

It is well known that diversity is beneficial in business. Different perspectives mean more varied ideas and richer innovation, and ultimately lead to more interesting and successful ventures. Despite this, due to a number of socio-economic factors, there remains a significant lack of diversity in entrepreneurship.

On a mission to make industry more inclusive, our Student Enterprise Centre (SEC) established the Westminster Entrepreneurship Pioneers Programme. Launched last September in partnership with Foundervine, the purpose of this new programme is to develop an experienced and highly skilled talent pipeline from the University. It aims to ‘upskill’ future business leaders by supporting student entrepreneurs from underrepresented backgrounds, giving them the knowledge and confidence to pursue more business creation opportunities.

This year’s programme was hosted online and included a nine-week long series of expert-led skills workshops on the creation and validation of new business ideas. In addition, students were offered mentoring sessions, one-to-one feedback meetings with real investors, a £250 bursary and an invitation to an awards event in which they could pitch their businesses to an industry and investor audience.

Of the 24 students who were successfully selected for the programme, 75 per cent were female, 67 per cent identified as being from a Black, Asian or minority ethnic group, 29 per cent had a learning disability and eight per cent were part of the LGBTQ+ community.

Over six months, these students developed their business plans from the initial idea generation to developing a product, to building a sales strategy and raising capital. The programme concluded with an awards evening in March, where six students pitched their business plans. Thanks to a generous gift of £5,000 from Claranet Limited, the winner and two runners-up also received prize money to go towards their business.

“The Pioneers Programme is a wonderful initiative to encourage and support entrepreneurship at Westminster and beyond,” says Charles Nasser, CEO of Claranet. “Anyone starting a business is likely to face a very steep learning curve, so starting young and getting help and mentorship are critical. Although the finalists can be very proud of what they have achieved, it is an invaluable experience for all participants and I hope to see many more in years to come.”

And the winner is…

First prize was awarded to AndreeaLaura Petrescu (Architecture BA, 2022) following a pitch on her virtual tour business.

“I came up with the idea for my business last summer, after struggling to find an apartment during lockdown,” she explains. “I had to move, and could only view the apartments that offered 3D virtual tours and none of them were very accurate.”

OVER SIX MONTHS, THESE STUDENTS DEVELOPED THEIR BUSINESS PLANS FROM THE INITIAL IDEA GENERATION TO DEVELOPING A PRODUCT, TO BUILDING A SALES STRATEGY AND RAISING CAPITAL

Based on her experience and seeing the potential in 3D tours, Andreea founded R3Dscan. “My idea is to create high-quality virtual tours and 3D models that will update the digital presence of different companies and businesses that rely on built spaces,” she explains. “The idea is that everything you could do in a physical space, such as take measurements, you can also do online.”

Based in Bucharest, so far Andreea’s local clients have included estate agents, property developers, galleries, museums, dental clinics and restaurants – with the client base growing rapidly. “People need to see these spaces,” she says. “For example, the museums closed because of the pandemic, but they still have so much to display and need a way of showing it. But even when there isn’t a pandemic, there are plenty of people who don’t have access to the museums because they live in other cities or villages. So we are trying to digitalise the most important museums in Romania, so that these people have a way of walking through them.”

As an architecture student, Andreea has benefited hugely from the Pioneers Programme as it gave her the grounding in business which she otherwise wouldn’t have learnt. “When I created this business, it was in the spur of the moment thing and I never really considered the financing of it, or the fact that I should be planning at least 12 months ahead,” she says. “Everything I learnt in the masterclasses could be applied to my business in real life, which really helped. “I am incredibly thankful to have won the Pioneers Programme competition, especially because it was my first time pitching. The whole programme was my first encounter with a business course and I was very impressed by what I’ve learnt – from the speakers, staff and especially the well-thought-through structure of the programme. “For me, winning the competition is proof that I’ve managed to apply what I’ve learnt during the past few months to my business and grow it. I’ve changed the marketing strategy and business model, and I’ve added another service to gain more clients. All of this allowed me to gain information that was crucial in creating a convincing, real pitch deck, that I am proud of.”

Andreea-Laura Petrescu, winner of this year’s Pioneer Programme

Scaling up for the future

Following its success, plans are already under way to expand the Westminster Entrepreneurship Pioneers Programme next year, continuing the work to encourage more diversity in enterprise.

“We are so proud to have come to a successful end of the Pioneers Programme that supported 24 students across the University to develop and grow their businesses,” says Shiela Birungi, Student Enterprise Manager at the SEC. “We have received positive feedback on the impact the programme has had on all the students involved due to the great efforts of the SEC and Foundervine teams. We look forward to scaling up the delivery of the programme next academic year and supporting a greater number of students to explore entrepreneurship opportunities.”

“We are delighted Claranet have chosen to support this innovative programme,” adds Jordan Scammell, Head of Development and Fundraising. “In the current economic climate, funding from our corporate supporters is more important than ever. One of the key aims of the University’s strategy is to substantially transform our engagement with business, industry and employers. For this reason, we also have a number of new innovative programmes planned for our students in the year ahead which offer an opportunity for partnership with other companies.”

COULD YOU SUPPORT STUDENT ENTERPRISE?

To discuss the ways you can get involved, contact our Development Team: development@westminster.ac.uk