World's 'Best Entrepreneurial Talent' Flocks to UK Under Government Scheme

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By Ian Silvera | December 16, 2013 11:08 PM EST

The government said the fledgling companies will now be able to establish their businesses in the UK (Reuters)

The world's "best entrepreneurial talent" is being attracted to the UK under a new government scheme.

The Sirius Programme, which aims to entice hundreds of talented entrepreneurs into the UK, has announced the first start-ups to gain a place on its scheme.

The fledgling companies, which are made up of 19 young entrepreneurs from 13 countries including India, China and Germany, will now be able to establish their businesses in the UK.

"Looking at the high calibre of entries we have received for this programme, it is clear that Britain is fast becoming the country of choice for talented graduates to start and grow their businesses, which will ultimately help our economy to grow, boost productivity and create jobs, and succeed in the global race," said Lord Livingston, the minister of state for trade and investment.

The small firms will receive financial support of £12,000 ($19,570, €14,246) per team member and visa endorsement, as well as a year place on a business accelerator programme.

More than 160 aspiring entrepreneurs from over 30 countries around the globe entered the first round of UK Trade and Investment's Sirius Programme.

Their business ideas and inventions include a one-of-a-kind way of creating green energy by converting waste coffee grounds into biofuel; and a low-cost, portable, remote smartphone battery charging solution.

The teams were elected by independent entrepreneurship experts as part of a "rigorous judging process". The first crop of entrepreneurs come from five continents and cover sectors as diverse as sport, energy and health tech.

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