Support is available to young innovators who can commit 15 hours a week to developing their idea.
This award will include:
an allowance to cover time spent working on the idea
coaching and mentoring from an innovation champion
a funding pot for activities or resources, such as travelling to meet customers and partners, training courses, equipment, office space and IT
Who can apply?
To be eligible applicants must:
be a UK resident that has the right to work in the UK, or is applying for the right to do so
be unemployed or working less than 35 hours a week
not be studying or studying less than 14 hours a week
be aged between 18 and 30
People currently receiving support from the Prince’s Trust’s in-person Enterprise programme are also eligible to apply.
How to register
Applicants will need to register with The Prince’s Trust, where they will then be able to sign up to attend one of a series of regional events. These events will help young people to develop their ideas and give more information about the application process.
You must attend an event in order to apply. We will be able to reimburse costs. If you are not able to attend but still want to apply contact firstname.lastname@example.org to discuss.
There will be 2 batches of events: The first events are:
Cardiff, Wales, 5 February
Ipswich, East Anglia, 5 February
Birmingham, West Midlands, 6 February
Brighton, South East, 7 February
Plymouth, South West, 8 February
If you attend one of these events you will need to submit your application by 1 March 2018.
The second batch of events will be:
Newcastle, North East, 26 February
Belfast, Northern Ireland, 26 February
York, Yorkshire and the Humber, 27 February
Manchester, North West, 1 March
Glasgow, Scotland, 2 March
Nottingham, East Midlands, 2 March
Delegates to these events must apply by 22 March 2018.
Last year, YouGov research - commissioned by The Prince’s Trust and Innovate UK - found that 82% of young people from disadvantaged backgrounds found the business sector difficult to access. 4 in 5 would not know where to get advice about setting up a business.
However, more than half said they would like to run their own company and 39% had ideas for products and services they could sell.
Ideas mean business launched to address these issues and support and empower young people into innovation. It is part of Innovate UK’s diversity and inclusion commitment.
Amended the eligibility criteria about working hours, which was previously unclear. Applicants must be unemployed or working less than 35 hours a week to be eligible. People who are currently receiving support under the Prince’s Trust’s in-person Enterprise programme are also eligible.
Clarified the differences in the Prince's Trust's programmes in eligibility criteria: applicants must be unemployed, or either working less than 35 hours a week if applying through the online programme, or working less than 16 hours if applying through the in-person programme.