The UK's first purpose-built Youth Enterprise Academy has opened in northwest England.
The Knowsley Youth Enterprise Academy, formally opened today by the Duke of Kent, aims to boost the rate of start-up businesses among young people through innovative approaches to enterprise education.
Funded by the Northwest Regional Development Agency (NWDA) and Merseyside Objective One, the £1.2 million Academy was established following research linking the low business start-up rates, unemployment and education within the borough of Knowsley.
"The Agency is delighted to support this new Academy, which will provide crucial support and advice to inspire Knowsley's young people to consider enterprise as a career option and will raise awareness of the wealth of opportunities available," said Steven Broomhead, NWDA chief executive.
"Enterprise and entrepreneurship are essential elements of a successful economy, and the NWDA recognises the importance of driving forward a culture of enterprise throughout the region at all levels, particularly amongst our young people," he added.
As a third of Knowsley's unemployed are under age 25, the Knowsley Development Trust 18 months ago recruited four experts to work with schools and business support agencies to help raise awareness of enterprise opportunities among the region's young people, aged 11 to 25, as plans for the Academy got underway.
The Academy houses 12 incubator units in which young entrepreneurs can grow their new or fledgling ventures at minimal costs.
The Knowsley Enterprise Academy is a registered charity set up by the Knowsley Development Trust, which has given £300,000 to the Academy to accommodate its running costs.
