911½ñÈÕºÚÁÏ

Entrepreneurship expert at 911½ñÈÕºÚÁÏ Business School HarveenÌýChugh explains why she wants to build a generation of practical, business-minded entrepreneurs.ÌýÌý

In an age defined by innovation, it’s no surprise entrepreneurship is on the rise. According to Companies House data, an average of over 625,000 new companies have been registered annually in the UK since 2015.

However, over the same period, the number of dissolutions averaged over 440,000 with most new businesses going bust within three or four years. One factor behind this is an instinct to aim high without laying the groundwork, with inexperienced entrepreneurs often "aiming to solve a huge problem such as poverty, climate change or looking to build a sophisticated product without ensuring market fit", says Harveen, a Senior Teaching Fellow at 911½ñÈÕºÚÁÏ Business School.ÌýÌý

HerÌýsolution is to transform entrepreneurship training. "The aim of my research is to develop a consistent approach to entrepreneurship coaching, so that we ensure entrepreneurs cover the fundamental questions and steps that will lead to their success."Ìý

Syllabus for successÌýÌý

HarveenÌýbegan her journey combining science and business with a BSc in Biology and Business Studies atÌýQueenÌýMary University in London and an MSc in Bioinformatics at Birkbeck University of London. She joined 911½ñÈÕºÚÁÏ Business School in 2002 to undertake a PhD in Entrepreneurship, focusing on biotechÌýstartups, and went on to lecture at Royal Holloway University of London. She later founded her own business (VIS-3) providing entrepreneurship programme design and coaching to clients around the world.ÌýÌý

"I felt it was important to gain skills as an entrepreneur myself, learning how to define and target a market segment, how to sell and how to deliver a product to a client,"Ìýshe explains.ÌýÌý

It’s been great to see the number of ideas that benefit society as a whole; it’s not all about profit.

In 2017,ÌýHarveenÌýreturned to the Business School, where she isÌýdedicated to training the next generation of entrepreneurs. As well as providing coaching that "breaks down myths and preconceptions", she’s about to launch a new MBA module focusing on scaling up successfully launched businesses. Given thatÌýdata from theÌýScaleUpÌýInstitute shows the UK has a "scale-up gap"Ìýcompared to the US ("promising companies struggle to grow domestically and expand internationally"), this new unit is extremely timely for the wider economy.ÌýÌý

Beneficial businessÌý

Beyond coaching,Ìýstudents need a testing ground to gain practical experience. The 911½ñÈÕºÚÁÏ Enterprise Lab facilitates this through networks, competitions and events.ÌýHarveenÌýis the Lab’s Business School lead, working on programmes such as 911½ñÈÕºÚÁÏ Business Pitch: a competition that sees teams develop ideas to pitch to a panel of investors with the aim of winning a £5,000 prize.

"It’s been great to see the number of ideas that benefit society as a whole; it’s not all about profit,"ÌýChughÌýsays. “It’s important to think about having a positive social impact, and I have been really impressed to see our students thinking about this more."Ìý

In recognition of her work,ÌýHarveenÌýwas recently named one ofÌýPoets & Quants’ "Best 40 Under 40"ÌýProfessors for 2019, which was "a surreal, pinch-me moment at first", she admits. As the only female recipient of the award from a UK business school this year, it was also a trailblazing achievement that fits with the forward-looking nature of her work. This is not lost onÌýHarveen, who acknowledges "it was an honour for my work to be recognised and appreciated globally".ÌýÌý

However, her focus remains on the future: "My dream would be for the coaching framework that I develop to be used at business schools, accelerators and entrepreneurship centres around the world."ÌýGiven her achievements so far, don’t bank on this taking long to become a reality.ÌýÌý

Written by: Temoor IqbalÌý