Matt Johnson: The vital importance of young entrepreneurs to our economy

THE British Library has this week launched a special exhibition to mark what it’s calling British Ingenuity. To promote this, it’s named what it thinks are the top 15 ingenious inventions of the last decade (www.bl.uk).

Until I heard about this aspect of the British Library’s work, I wasn’t aware the institution had its own inventor-in-residence, Mark Sheahan. To judge by his interview for Radio 4 last Monday morning, he has a passion for his work.

Mr Sheahan believes that, whether they are changing the world of sport, fighting climate change, or just making life a bit easier, each inventor has challenged the established way of doing things.

Speaking about the British Library’s list, Mr Sheahan says: “From Dyson’s revolutionary bladeless fan to President Obama’s favourite dog bowl, we trace the journey of an idea from that first spark of inspiration to the development of a business.”

Wise words to remind us about that inextricable link between invention and entrepreneurship.

So, where can today’s inventors and entrepreneurs receive the help and support they may need to see their ideas turn into a profitable reality?

The achievements of entrepreneurs often owe more to their individual flair, determination and, in some cases, sheer bloody-mindedness than to any sort of intervention from governmental agencies that can leave so many fledging businesses exasperated by red tape.

We may wince at some of the ideas aspiring entrepreneurs take into the BBC’s Dragon’s Den each week, but, credit where credit is due, it’s an unshakeable self-belief that takes them there. That, and a need to raise capital in pursuit of their business dreams.

Protecting the provision of this support for inventors and new businesses must remain a priority, and I believe that should start in our schools. Preferably, our primary schools.

Mr Sheahan was joined live on air by one of the Top 15 inventors in his Library's honours list – an eight-year-old boy from Derbyshire.

If you have any doubts whether an entrepreneurial spirit still exists in the UK, listen to Master Samuel Houghton on BBC iPlayer, and you’ll realise how vital young entrepreneurs are to our economy.

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