Frequently asked questions

The Watford Young Entrepreneurs Programme (WYEP) is an exciting new programme funded by Watford Borough Council and delivered by the University of Hertfordshire. The programme is designed to provide free expert tailored advice, support, and grant funding to young entrepreneurs and those interested in becoming entrepreneurs in Watford.

The University of Hertfordshire is uniquely equipped to support start-ups and small businesses to innovate and grow and plays a key role in supporting the region’s entrepreneurial ecosystem, running a wide range of programmes supporting businesses in Hertfordshire and beyond. Its Enterprise Hub hosts a dynamic in-house incubator and provides access to specialist facilities including a fabrication laboratory.

The University’s Business School is well regarded nationally and internationally, and its vibrant school of Creative Arts has state-of-the-art facilities and provides inspiring courses in Film, Performance, Sound and Music, Visual Arts, Media, Design and Fashion, delivered by experienced lecturers and industry experts. In recent years staff and students have worked on major blockbuster movies including Star Wars and the Harry Potter films.

The programme is open to young entrepreneurs and those interested in becoming entrepreneurs aged between 18 – 35 and are based in the Watford Borough Council region.

The Bootcamp Phase is open to all interested young entrepreneurs and/or aspiring entrepreneurs. There are no minimum qualification requirements, and no previous knowledge of entrepreneurship or business is needed.

To be shortlisted for the second phase, you must have a viable idea to grow or an already established business.

The programme is free of charge for you to join. It is funded by Watford Borough Council to make a positive impact for young people in Watford and develop an even stronger business community now and long into the future.

You must be 18 years of age by 1 May 2022 to apply for the programme.

You must be no more than 35 years of age by 1 May 2022 to apply for the programme. So, if you are still 35 by then please apply.

You must strictly be based in Watford only to apply for the programme. Your home address, or registered business address must be in one of the qualifying Watford postcodes. Find out at the bottom of the page, 'Express your interest in the scheme' section.

Whether you already have a business or are simply considering launching one, the programme provides:

Expert start-up support: you can access to University of Hertfordshire’s start-up know-how, fantastic network, and specialist facilities.

Build business confidence: you will be provided with frameworks to develop a thorough business plan, the strategies and tactics of user acquisition and growth, sales and marketing, operations, business strategy and more.

Funding: opportunity to apply for a grant of up to £5,000 to get your entrepreneurial venture off to a great start.

Bespoke mentoring: opportunity to access the co-working space in Herts' Enterprise Hub for 1-2-1 mentoring sessions, with an expert mentor carefully selected to match your business needs.

Develop your product/ or service: access to Herts' laboratories to develop prototype products ranging from specialist equipment to apps.

Networking opportunities: a chance to build key connections with experts in your industry and connect with other young entrepreneurs.

You will gain core business training and develop entrepreneurial skills and techniques to enable you to set up or develop your business.

Experts will guide you on business model planning and ideation using the Business Model Canvas, and introduce you to key sustainability concepts, as well as a wealth of knowledge and insights from successful entrepreneurs and business mentors.

Phase 1: Expert-led sessions  – hear from successful entrepreneurs and access a dynamic programme of workshops on key areas such as:

• Cultivating an entrepreneurial mindset
• Business modelling
• Marketing & branding
• Finance: budgeting & pricing

Phase 1 will be a hybrid model consisting of face-to-face and online group workshops, training and support.

Phase 2: One to one support – If you are successfully selected for the second part of the programme, you’ll benefit from access to an expert business mentor, further opportunities to grow your skill set through workshops and the opportunity to apply for up to £5,000 of grant funding.

Please note that applications to join our current cohort have now closed.

Key dates for our current cohort include:

Application deadline: Friday 29 April 2022.

Phase 1: Bootcamp (May 2022) - Hear from successful entrepreneurs and access a dynamic programme of workshops and expert-led sessions on entrepreneurship, business venture development, sustainable business strategies, and market trends.

Phase 2: Bespoke 1-2-1 support (June - August 2022) - If you are successfully selected for the second part of the programme, you’ll benefit from access to an expert business mentor, further opportunities to grow your skillset through interactive workshops and the opportunity to apply for up to £5,000 of grant funding.

Launch: The launch event and first sessions will take place on Wednesday, 18 May 2022.

Programme end: Wednesday, 31 August 2022.

Location: Online and at the University of Hertfordshire.

Up to two entrepreneurs per business will be eligible to be part of the programme and at least one of them will need to fulfill the following criteria:

• You have a business idea

OR

• have already launched your business and have been trading for less than 2 years
• You are based in the Watford Borough Council area
• You are between 18 – 35 years old
• You want to improve your business knowledge and confidence
• You can commit to attending all the workshops

We are particularly interested to hear from you if:

• Have a social enterprise business/idea or a business/idea with a social impact element
• Have a viable business idea, with the potential to establish a green, sustainable business.
• Have a business with a digital/tech focus
• Have an interest in developing businesses in the green, sustainable sector.

If your business has more than one owner, at least one of you needs to meet the criteria set above. Up to two members from the same company can be accepted to the programme.

Please note that applications to join our current cohort have now closed.