MANCHESTER Metropolitan University is one of five recipients of £1 million to help students and graduates turn their ideas into viable businesses.
The Northwest Regional Development Agency selected MMU to pilot the ‘enterprise champions' initiative to boost the regional economy.
The universities of Salford, Liverpool, Liverpool John Moores and Cumbria share the remainder of the £930,000 fund.
The windfall will pay for enterprise champions to offer guidance and support to turn ideas into real enterprises, to help build on a new student/graduate business incubator – Innospace – at MMU Business School.
Steven Broomhead, chief executive at the NWDA, said: "We have an enterprise gap in the North West. We need more business start-ups. This exciting project will support fresh ideas at an early stage and encourage graduates to take their entrepreneurial plans forward to profit-making businesses."
The project is being spearheaded nationally by the National Council for Graduate Entrepreneurship.
Professor Ossie Jones, Head of MMU’s Centre for Enterprise who wrote the bid, said: "This is further recognition of the University’s growing culture of enterprise."
The bid centred around Innospace, which helps start-up businesses to thrive, offering low-cost office space in central Manchester, professional mentoring and a range of workshops.