Entrepreneurship: Developing Skills for Life
Unlike a typical classroom, entrepreneurship education has no heavily bound books or statistical graphs lining the walls. Instead, you’ll likely find Post-it notes, flip chart paper, laptops, and – with the help of marshmallows and spaghetti sticks, as well as real-life experiences – an abundance of creativity, innovation, and inspiration. But what exactly is entrepreneurship education, and why is it important for Lorettonians?
Over the past 20 years, entrepreneurship and enterprise education have gained traction in higher education across the UK, backed by government bodies, think tanks, businesses, and charities. Understanding the importance of such a programme, Loretto embedded an Entrepreneur in Residence initiative within its curriculum.
Our Entrepreneurship Programme offers unique learning experiences throughout the year, including two standout events: Stop and Startup and Startup Sprint. These hands-on activities take pupils from business ideation to launch, spanning one and three days respectively, and effectively aim to bridge the gap between academia and industry.
The inaugural Stop and Startup was held in February this year. Business pupils were taken on a tour of Edinburgh’s hubs of innovation, networking with creative entrepreneurs. Inspired over the day, pupils used this to formulate their own business ideas, brainstorming and practising pitches on the bus journey between stops. At the end of the day, pupils delivered confident and compelling pitches to a panel of judges.
Pupils delivering their pitches at the Higgs Centre for Innovation
In June, Startup Sprint invites all Lower Sixth pupils to collaborate on developing their business ideas. They share intermediate pitches, gain insight from entrepreneurial mentors, and present their final pitches on day three. Those who participated in Stop and Startup, can further refine their initial ideas for budding businesses.
Our programme leverages existing networks, enhances stakeholder engagement and links Loretto with external organisations. As Entrepreneur in Residence, I have also engaged with local schools to deliver ideation workshops to over 500 pupils and supported Loretto pupils to create and build a brand – Glow Candles – to generate income for FetLor Youth Club, as well as additional practical experiences.
Through entrepreneurial education, pupils develop teamwork, creativity, originality, problem-solving, curious questioning, and time and risk management skills – all highly valued by employers. Arguably, these skills are not exclusively for professional purposes but are crucial for personal development. These are skills which will maximise what Lorettonians are truly capable of in all areas of life. In addition to developing these competencies, entrepreneurship education also develops business competencies; ultimately, we aim to build their confidence and knowledge, equipping them with the tools to launch a viable business, now or in the future.
A safe, nurturing, and creative space is cultivated, giving pupils room to make mistakes and learn from them, fostering resilience through these rich learning experiences. Engaging in the innovation process helps pupils become self-determined, highly employable, and capable of navigating challenges.
Entrepreneurship education prepares pupils for life after school and the opportunities of the modern world. It’s our responsibility to prepare them for the future. No matter which career path they choose to follow, our goal is to create a flow of innovators, who lead rewarding lives and who are competent, active, and responsible members of society. And if we can launch a successful startup along the way, we welcome this too!
Natasha, Entrepreneur in Residence