Quick-fire ideas get firms firing

By Ben Richardson
BBC News business reporter

Mentors can pass on valuable ideas and help to entrepreneurs

Fancy starting your own business and becoming the UK's next big entrepreneur? Then maybe "speed mentoring" and the half-hour it offers with a panel of hard-hitting experts is the thing for you.

Rupa Chilvers goes quiet when asked for more information about her idea for a baby gadget.

The 30-year-old businesswoman has travelled to London to take part in a high-profile "speed mentoring" programme and is not about to give away her concept.

Especially when mentors including Lord George, the former Bank of England governor, have helped point her in the right direction.

The other members of the mentoring group were Sir John Banham, a former director-general of the CBI and chairman of brewer Whitbread, Henry Ashworth, an entrepreneur and founder of the Extreme Academy, and Robin Tye, a vice president at IBM.

Make it big

"I wouldn't be here if I didn't want to get big," Ms Chilvers explains in a meeting room at a swish London hotel, before heading downstairs to make a call on her mobile.

The entrepreneurial zest comes from a need to survive Dr Philip Shields, entrepreneur

Despite her ambition and drive, Ms Chilvers admits she needs help developing her business and that is where mentoring can prove invaluable.

"I found it really useful," she explains after giving a presentation about her business for 10 minutes, and having her plans scrutinised for a further 20.

"They brought up issues I had thought about but had not had a chance to discuss. How else could I get help like this without paying?"

Entrepreneurs are a highly sought-after commodity these days and are seen as a vital component of sustainable economic growth.

"There needs to be new businesses to replace those that cannot be sustained," Lord George told the BBC.

Entrepreneurial zest

The government has been looking to awaken the nation's business spirit with its recent National Enterprise Week, and many business leaders have urged less red tape and more support in order to get us all out there creating jobs and wealth.

Tuesday's session was put together by Cornwall Pure Business, a county council-run initiative, that aims to give firms and entrepreneurs from across the UK the chance to meet, network and ask questions.

Creating something from scratch is the most exciting thing you can do Sue Priest, entrepreneur

The council hopes that if the mentoring helps the businesses take off, then the entrepreneurs could be persuaded to move to Cornwall and help develop a thriving community of successful enterprises.

Dr Philip Shields' reasons for attending the session were less grand and more a question of necessity.

Along with his colleagues from the University of Bath, Dr Shields is developing technology that will be used to produce chips used in the latest generation of DVD players.

A sceptic by nature, Dr Shields came to London with very specific questions about how best to raise financing.

"The entrepreneurial zest comes from a need to survive," he said, adding that it was good to see people get excited about his firm's plans.

Pick holes

For Sue Priest, the urge to run her own firm has been burning bright since she was a teenager and sold padded coat-hangers.

"Creating something from scratch is the most exciting thing you can do," the energetic 39-year-old said.

A mentoring session can really help a new business take off

She came looking for advice on how to raise cash for her emissions strategy company, was surprised to find other entrepreneurs suffering from the same problems, and eventually left with the possibility of a business tie-up.

The learning curve for start up businesses can be very steep, and mentor Henry Ashworth said that it never really ends.

Already a successful businessman at 35, Mr Ashworth enjoys sessions like Tuesday's as the innovation and ideas of the hopeful entrepreneurs helps energise and revitalise him.

And should the entrepreneurs need more help in the future, then the contact has already been made and he is happy for a phone call.

"The mentors will pick holes," he explained. But the idea is to "come back with a new cloth and see if it fits better."