Over the last few weeks, I've seen the future. I've met some of the next generation of entrepreneurs who will help build our economy and our country's prosperity in the years ahead. They're our country's future, and I've met them where you might least expect it.When I set up the Kilburn Dragons' Den, I'm not sure exactly what I expected. The idea was to help 16 to 18 year olds from some of London's least privileged backgrounds generate business ideas that could be started with £1,000.
Working with the experienced mentors over a period of several weeks, the teams have been developing their ideas. The final is today (Thursday) at the Tricycle Theatre in Kilburn, where a panel of distinguished judges will select the winning team - who will get the money to set up their business. The teams have some great ideas - for example setting up an organic food business supplying under-20s, establishing a bike rental business and setting up a recruitment business finding part-time holiday work for thier age group. All potentially great ideas.
I've always had a passion for setting things up and getting things done. My first business was a car wash round established when I was 14 and growing up in south London - later sold to £50 to one of my brother's friends! Ten years later, I set up a distribution business from scratch - starting by driving the van myself. Four years and two venture capital rounds later, the business employed hundreds of staff directly and indirectly, and we floated it on the stock market.
I am hoping to pass on some of my passion for enterprise via the Kilburn Dragons' Den. One of the things I like about entrepreneurs is that they can come from humblest backgrounds - starting with nothing, and yet still make it big. Alan Sugar started selling boiled beetroot from a street cart at the age of 16 in Hackney. Richard Branson started a student magazine when he was just 16. Even Apple started in Steve Jobs' parents' garage in California one summer afternoon in 1976.
Enterprise creates real prosperity and combats poverty. I sometimes think that the Governments's way of fighting poverty is only through the benefits system. A safety net is important, butit is not really beating poverty. Enabling genuine prosperity for everyone who wants to work does that.
At the Kilburn Dragons' Den, I've been really impressed by what the teams have come up with. They have genuine creativity and entrepreneurial energy which can't be taught or bought. I'm especially pleased to see this creative flair in a group which comes from a diverse range of backgrounds - Bangladesh, Somalia, Poland, Angola, Jamaica, and Iraq to name a few places.
One other reason for setting the Kilburn Dragons' Den is to build confidence and self-belief among the participants. So before the final, the teams will work with professional actors and actresses at the Tricycle to try to help develop confidence. It's not always a quick process, but it's worth investing in.
The younder generation sometimes gets a bad press. We read almost daily about gang crime. In Kilburn the Den will help combat the fact that over 30 per cent (and growing) of Kilburn's 16-24 year olds are not in education, employment or training. But this generation is the future. They have energy and creativity. They have potential. They have ability.
We must do everything we can to encourage and help them achieve their goals. Becuse by achieving their goals they help not just themselves, but our society and our nation as a whole.
