Prince Andrew hosts appointment of University Student Ambassadors for Start-Up Loans

Prince Andrew meets Student Ambassadors from Britain’s Universities

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The Start-Up Loans Company appointed its first Student Ambassadors at a reception yesterday (25 Feb 2013), given by HRH The Duke of York, KG at Buckingham Palace.

The Ambassadors will represent Start-Up Loans at their universities, be available to encourage other students considering starting a business and direct young entrepreneurs to apply for Start-Up Loans.

James Caan, noted entrepreneur and Chairman of the Start-up Loans Company, said: “Student entrepreneurship is a vibrant community and through Start-Up Loans, we can help foster the amazing innovation that is evident in Universities across the country. Through the Ambassadors who have all been selected, we will be able to catalyse enterprise amongst students.”

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The Ambassadors will be heads of student entrepreneurship societies from universities throughout the UK as well as invited students. The number of Ambassadors will depend upon the university’s scale and the quality of applicants.

Ambassadors are chosen based upon a one-page marketing plan that describes how Start-Up Loans will be promoted on campus. The selection process is based around access to students considering starting a business, confidence in public speaking, a strong academic record, excellent communication skills and the ability to prioritize their role and studies.

The event was hosted by His Royal Highness as part of his continued focus on promoting entrepreneurship and supporting initiatives that extend better access to capital to early-stage businesses. Lord Young, an economic adviser to David Cameron and founder of the scheme, was also in attendance.

The Start-Up Loans Company seeks to provide affordable loans and business training to young people who are living in England, looking for finance to start a business and who have a viable business plan. Earlier this year, the Prime Minister David Cameron announced an expansion to the Start-Up Loans scheme taking the size of the Government-backed loan fund to £112 million and allowing people up to the age of 30 to apply.