1. Helen Gresty, Executive Director Innovation Programmes Creating Enterprising Colleges - 01 July 2008 Developing enterprise (& innovation skills!) through work experience related learning

2. NESTA  Vision – of a creative and enterprising UK competing globally and responding to social challenges  Mission – to transform the UK’s capacity for innovation  Approach – think / do tank  An expert resource on innovation  Endowed finance - independent, risk capital for experimentation  A long term view  Mainstreaming what works

3. Education – preparing the next generation of innovators and entrepreneurs Context:  rapid social, economic and technological changes  transformation of work and careers  start of a shift in education creates opportunities to build enterprise skills for innovative economy Young people exposed to and ready for future world of work

4. Refreshing Work-Related Learning: NESTA’s Future World of Work Portfolio

5. Future World of Work: Researching the Issues 3 Studies - creative economy, rural economy and third sector:  Benefits of engagement in education should be sold better  Work-related learning too often seen as just work experience  There is a significant and largely untapped potential for ICT to support work-related learning  Effective brokerage is extremely valuable

6. Key Findings – Creative Economy  For creative businesses, work-related learning can help spur innovation, creativity, competitiveness and growth  Launch of Creative and Media Diploma and Creative Apprenticeships will drive the need for colleges to engage with the creative sector  But capacity challenges for creative enterprises  Creative industries bring new ideas, technologies and ways of working essential to the future economy and world of work.

7. Key Findings – Rural Economy  Rural economy exemplifies many features of the future world of work: growth of micro-businesses, IT based products and services and need for diversification of traditional businesses  Challenges arising from small and disparate nature of businesses in the sector  Rural employers can be encouraged into education with messages around maximising local talent, reducing youth unemployment and revitalising the local economy  Great potential for IT to support work-related learning in isolated rural communities.

8. Key Findings – Third Sector  Sector is fast-growing part of UK economy – annual turnover of around £75 billion  Engaging with sector can help young people appreciate competing pressures of making money, pursuing a mission and creating an impact  Innovative approaches needed to encourage greater participation from third sector organisations  Need for clearer picture of opportunities and career pathways in sector

9. Examples Of Good Practice  Creative Economy The Sorrell Foundation joining students from over 60 schools and colleges with international architects and designers to design improvements to their environment.  Rural Economy Highlands and Islands scheme enabling virtual work experiences  Third Sector Trust Youth initiative enabling young people to learn about business through creation of mini charities

10. NESTA Pilots  Test out new ways of delivering work-related learning that reflects the dynamics of the new economy  Demonstrate the skills for enterprise and innovation which young people acquire  Examine the benefits for all the participants – students, education, business and wider society  Use the learning from these pilots to influence the development of work-related learning.

11. Supporting the FE sector to deliver world class enterprise education A new NESTA pilot with SEEDA & Oxford Brookes University:  Enables participating FE institutions to develop institution-wide enterprise education strategies  Creates opportunities for young people in FE institutions to develop skills for innovation  Establishes a network of enterprise education champions across the South East  Disseminates learning to all FE institutions in the UK

12. Conclusions  The UK needs innovative young people to strengthen the economy, invigorate communities and regions, and develop successful pilot, public and third sector organisations  Work-related learning is crucial in delivering this.  Recent education developments provide new opportunities  But opportunities will only be grasped if there is a step change in how work-related learning is delivered.

13. www.nesta.org.uk futureinnovators@nesta.org.uk