Lancaster University Management School (LUMS) showcased its entrepreneurial expertise to business students around the globe through a successful new programme.
Students from North America, South America, Africa and Asia took part in the seven-week Global Entrepreneur in Residence programme, delivered by LUMS and the Global Business Schools Network (GBSN) between October and December.
Lancaster led the programme based on its Entrepreneurs in Residence (EiR) network - recognised in the School's Small Business Charter reaccreditation as an exemplar for involving small business leaders in developing and delivering high-quality programmes.
Students studied the informal economy with academics and entrepreneurs from LUMS; Athena School of Management, in India; Fundação Dom Cabral, in Brazil; NUM International College, in Cambodia; and BRAC University, in Bangladesh.
Brian Gregory, Director of the LUMS Entrepreneur in Residence programme, organised and ran the programme with GBSN. He said: "We had students from Brazil, Bangladesh, Cambodia, Canada, India, Pakistan, the Philippines and South Africa, among others, some already with their own business in sectors from IT consultancy to real estate to coffee shops.
"We worked with entrepreneurs associated with each business school, as well as a young financial entrepreneur in Nepal, all of them young people. It was a great success. The students told us how much they have taken from the programme, learning about business operations in different parts of the world. It gives a perspective and a context, showing how there are similar problems across the globe and how there are very different solutions depending on where you are.
"The entrepreneur from Nepal, for example, is taking finance from global institutions and has devised a way to get that finance to farmers who have no idea of a credit rating, and where in no chance of a credit history. She has found a way to lend to micro-entrepreneurs from global financial institutions. That is a brilliant example of what people can do, and can be a real inspiration to the students."
The plans are to continue the Global EiRs in 2022, involving more business schools, and with Lancaster students able to participate for the first time - LUMS EiRs from Cumbria, London and Mumbai played instrumental roles in the first programme. The long-term goal for a global EiR pool with whom all GBSN member schools can engage.
Dan LeClair, CEO of the GBSN, said: "Looking ahead, we fully expect the Global Entrepreneurship in Residence Program to become a cornerstone for the Global Business School Network and its work to foster more inclusive and sustainable development. The inaugural schools, entrepreneurs, and students who participated will be seen as true pioneers."
The Global EiR programme is open to graduate or undergraduate students from any GBSN member school. Academics can also sign up to take part in curriculum reviews, session lectures, and advisory sessions with EiRs.
