BGA | BUSINESS IMPACT
new perspectives and ideas where a business needs it most. This can help create a sense of security for potential investors due to added trust in startups who are recommended by experienced peers and open to learning – both giving and receiving advice from others. Strong relationships with the next generation can benefit leaders and investors with decades of industry experience equally. Strong mentee connections can help mentors obtain a greater understanding and respect for the guidance they give, as well as new insights into how their own business ventures can relate to new ideas. The role of Business Schools and universities Much of the resources that universities and Business Schools provide – including assisting students in making the transition from education to the startup world through career-planning programmes and mentoring – have grown in popularity as proven methods of supporting students. By offering mentorship at the early stages of students' studies and careers, mentors are allowing them to connect, collaborate and receive as much support as possible, which in turn often results in increased alumni engagement and more significant prospects for future endeavours. In particular, universities have a duty to advocate for the creation of more socially conscious startups among their cohort of student entrepreneurs, especially given the current climate in which we find ourselves. Socially responsible companies tend to attract employees who are eager to make a difference in the world, cultivate positive brand recognition, and boost consumer loyalty. This type of business is becoming highly appealing
is truly impact-driven, confront biases and stimulate innovation, the mentoring lifecycle approach goes one step further by integrating reverse and peer-to-peer communication. As a result, it supports entrepreneurship
as a viable means of driving local change and establishing long-term impact communities.
The future of mentorship in business Recent times have proved hugely challenging for startup businesses but have also presented opportunities to think about the type of innovation and support needed to make a real difference in society. At LSE, the launch of the Mentorpreneurship programme comes at a time when the need for human interactions and mentorship is fundamental – not only to navigate the ups and downs of entrepreneurship, but also to create real change for the future. We believe that entrepreneurship should be the great equaliser. No matter what challenges the world presents, or where you are based, an inclusive startup culture that benefits a global community can flourish with the right support, access and materials. For entrepreneurs, learning rarely stops, and to foster the spirit of creative thinking, mentoring is most beneficial when it starts from the early stages of career development and continues throughout education and beyond. Universities play a crucial role in advocating and championing support for their business students, especially those looking to pursue entrepreneurial careers with a social purpose. By pioneering social impact businesses, universities demonstrate the value of social sciences, as well as the arts and humanities, in encouraging collaboration to tackle some of the world’s greatest challenges – and the lifecycle of mentorship is fundamental to this, helping to develop these businesses and creative ideas even further for the betterment of society.
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to both consumers and shareholders
‘Entrepreneurship should be the great equaliser. No matter what challenges the world presents, or where you are based’
alike, accelerating economic growth as well. However, to achieve
these business goals, student entrepreneurs need to connect with an alumni network of experienced professionals for crucial
LJ Silverman is Head of LSE Generate at the London School of Economics (LSE), where she manages the community of innovators who are able to engage with the LSE Generate programme, seek mentorship, funding, and a home where they can be equipped to go out and solve some of society’s most pressing problems. Prior to LSE, LJ ran her own careers and recruitment consultancy focussed on climate change and before that, she worked in TV. LJ holds a BA and a master’s degree in modern and medieval languages from the University of Cambridge.
contacts, insight and motivational support. Universities should engage alumni mentors to improve a student's overall education and career/business planning experience. Through mentoring programmes and by providing startups with mentors, universities are more likely to produce a portfolio of successful student entrepreneurs. However, to encourage thinking that
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