You ignite the Spark
SPARK
My business would not be where it is today without the support from the team at Spark. With their help, I really believe that the sky is the limit.
Last year, current Spark businesses generated over £2m in profit and created 69 full-time jobs.
There is now a core team of five staff, with five external advisors who give specialist support to Spark businesses.
Spark is a free service to students – and the University takes no equity in the businesses, nor ownership of the Intellectual Property (IP).
Spark engages with around 1,700 students each year, from across all faculties and at all levels of study - foundation level, undergraduate, masters and PhD.
In the past 20 years, Spark has helped to establish over 1,000 businesses, with between 60 and 80 new student businesses founded each year.
Around 82% of these businesses were still trading three years after being founded – much higher than the national average.
Students also hone their business skills while competing for a cash prize in our Business Simulation Contest in the University’s innovation space HELIX. Spark services are available to alumni up to seven years after graduation.
“When Spark was set up 20 years ago it was quite a visionary step,” says Brian Baillie. The Student Business and Incubation Manager added: “Back then, Russell Group universities didn’t used to do this kind of thing.”
The task of establishing the student enterprise scheme fell to former business owner Kairen Skelley, initially recruited for just a few hours each week.
That role soon became full time, and Brian joined the growing team in 2014. “When I joined, we were working with around 600 students a year and now it’s up to 1,700. They can be at all stages of their enterprise journey – some have no idea about what kind of business to run, some have ideas, some are in the start-up phase and others are looking to grow an existing company.
“We engage with students in lots of different ways, helping to shape their own business ideas, but also developing their entrepreneurial mindset. For some this will lead to a long-term business venture, but for others that mindset can be a really valuable skill they bring to an employer.”
Brian Baillie, Student Business and Incubation Manager
Brian Baillie, Student Business and Incubation Manager
Each year, around 40 of the businesses take up a place in our Spark business incubator, based in NEXUS, the University’s community of innovators and entrepreneurs.
There’s an important pastoral side to Spark’s work, too. “It can be lonely for entrepreneurs working on their own,” says Brian. “Our business incubator is a safe and secure environment. We’re always here for them; they always have someone to talk to, a shoulder to cry on when things aren't going well and we celebrate their success alongside them.”
Twenty years on, Leeds remains a model for student enterprise. “A lot of other universities are doing this now,” says Brian. “But lots of them come here to find out how we do it and follow our model.”
Spark’s reputation is an important attraction for prospective students, too. “We asked our businesses why they chose Leeds and almost all said they investigated it beforehand and knew about our enterprise offering.”
“And while many more universities now offer enterprise programmes, the commitment of our donors – through both practical and financial support – is a major point of distinction for Leeds.
“We simply couldn’t operate without their generosity,” says Brian.
Scholarships
Over the years, 350 students have been supported by Enterprise Scholarships, entirely funded by alumni and other supporters. The scholarship supports students to concentrate on developing their business, learning entrepreneurial skills and building networks.
Scholars benefit from specialist business advice in areas such as law, accountancy, technology, insurance, banking and IP.
Workshop sessions, a business plan contest, and a two-day residential bootcamp each help students to hone their leadership, problem solving and presentation skills and to professionalise their business.
Scholars can also apply for further funding to cover digital assets, work on their proof of concept, develop their product, grow their business and protect their IP.
A recent survey found that every one of those former scholars are now either running their own business or employed in high-quality jobs.
The Spark incubator gives businesses free office space for a year, a registered business address, serviced office facilities and access to NEXUS events.
Several Spark businesses have subsequently taken commercial office and lab space within NEXUS.
Giving back
Many alumni who were supported in the early years of Spark now donate money and offer their service as volunteers.
For example digital design agency madeby.studio serve as Enterprise Ambassadors, have delivered workshops and bootcamp sessions – and produce Spark’s annual impact report.
Built with Shorthand