New Entrepreneurs Foundation (NEF) is a London-based non-profit that runs a development programme for aspiring entrepreneurs.
Contents
Founded in 2010 by Oliver Pawle, Dee Stirling, Sir Nigel Rudd and The Lord Davies of Abersoch CBE, the NEF programme was designed to support and accelerate the next generation of UK entrepreneurs building industry leading, scalable businesses.
NEF differentiates itself from other incubators and accelerators in that it solely focuses on the entrepreneurial potential of its intake rather than existing venture ideas.
Also unlike other incubators and accelerators, it does not require the contribution of equity from its participants’ ventures. It is entirely funded through corporate and individual sponsorship. See Sponsors and Funding for more information.
Currently based in London under the guidance of a Board of Trustees (see Leadership) and CEO Neeta Patel.
Registered UK Charity No. 1140102
Company No. 07469562
The Programme
Each year the NEF announces the start of the yearly programme and from the applicants it selects a cohort of anywhere between 20 and 50 participants to take part and they can be at any stage from pre-ideation to running a venture full-time.
The programme runs similar to an academic year, starting in September and concluding at the end of June with a graduation presentation. It is delivered in five main ways:
1. Paid Work Placement - Candidates are placed with high-growth start-ups such as Secret Escapes, Uber and E-Leather.
2. Learning and Development Workshops - Candidates attend training workshops provided in partnership with business schools, including UCL, London Business School and other specialist training providers. Workshops cover topics such as Negotiation, Web Development and Pitching.
3. Speaker Series - Events to which the participants and network are invited. Past speakers include Dido Harding (CEO, Talk Talk), Gerry Murphy, (Chairman, Blackstone), Dr. Hermann Hauser CBE (co-founder, Amadeus Capital Partners), Lara Morgan (co-founder, StartUp Britain), Brett Akker (founder, Streetcar, now Zipcar) and Marcia Kilgore (founder, Bliss, FitFlop & the Soap & Glory range)
4. Executive Coaching - Participants are allocated an executive coach to help them through their personal development
5. Business Mentorship - Participants are matched with a business mentor with specific industry expertise.
Three days in June are allocated for Pitch Days. These are full days during which the current cohort and alumni pitch their business ventures to a panel of investors.
As of July 2016, NEF has developed 155 entrepreneurial ventures, of which 62 remain active, with more than £10m in investment raised and 650 jobs created.
Among these businesses are Inkpact, Pollen8, Plus44 Holdings (whose primary product is Sliide App), Stand4Socks, Krzana, Wiser, Sideways6, Turn Partners and CharlieHR.
The Application Process
Applications are accepted every autumn, and candidates are selected after a series of stages, including interviews and tailored assessment centers. Upon selection, candidates join the cohort that commences the following autumn.