Government to build on entrepreneurial reputation

The government has launched a major new education scheme with a view to capitalising on existing enthusiasm for entrepreneurship.

Cracking Ideas, which will target children between the ages of 9 and 11, has been organised by the UK Intellectual Property Office. Wallace & Gromit have been enrolled as mascots for the initiative, and the government hopes to inspire a new generation of innovators and businesspeople.

Nearly a third (30%) of all patent applications in the first quarter of 2007 came from individual entrepreneurs. Many of these were hoping to run a business based around their idea.

Between January and March, 1,800 individuals applied for a patent, which has been cited as evidence that the entrepreneurial spirit as alive and well in the UK.

Science and innovation minister, Malcolm Wicks, stressed the importance of educating today's schoolchildren in entrepreneurship and business.

"Britain remains a nation of inventors, taking their ingenuity from the garden shed to commercial success. Entrepreneurs, and the passion of those who appear on shows like Dragon's Den, can really inspire innovation," he said.

According to the Skoll Foundation, the next generation of entrepreneurs will also be socially conscious. These "social entrepreneurs" will apply their business skills to some of the world's most pressing issues, and will appeal to investors by prioritising the environment.