English entrepreneurs are being given a competitive edge by learning the American way of starting and running a new business.
Twenty people, selected from some of the most deprived parts of England, have been sent to Babson College in the US, one of the world's foremost colleges for budding entrepreneurs.
The New Entrepreneur Transatlantic Scholarship (NETS UK) aims to help entrepreneurs to learn from the American's very different approach to setting up and running a new business.
The 20 undertook a specially designed intensive two-week programme where they had the opportunity to develop their business ideas and plans in conjunction with experts in the field, they needed to convince tutors that their ideas were viable.
Successful entrepreneurs in similar areas were also invited into the college and students were able to shadow these people and learn from their experience. At the end of the two-weeks each student had to present their business to a panel and received critical feedback.
The programme is part of a series of LSC funded initiatives, including its introduction of enterprise agents to schools, to help encourage the UK to become more entrepreneurial and more competitive.
More than twice as many Europeans than Americans give up their efforts to start a business. A survey by the European Commission showed that 46% of Europeans agreed that "one should not start a business when there was a risk it might fail" against only 25% of US citizens.
