Bucks New University has been awarded a grant to arrange 40 internships in small and medium sized companies across the Thames Valley region.
The scheme is part of the Government’s new enhanced graduate internships programme, announced by the Higher Education Funding Council for England (HEFCE) yesterday, to assist unemployed graduates through the economic downturn and support employers in the Government’s priority areas for economic growth.
In total, around 7,000 graduates’ career prospects have been given a boost, with over 50 universities taking up the £13.6 million fund to provide internships in small businesses as part of the Backing Young Britain campaign to help young people into work.
The graduate internship programme, which is being promoted by the Federation of Small Businesses, will support small businesses to take on, and get the best from, a graduate intern. Graduates will receive practical assistance before, during and after their internship, including mentoring, pre-employment and interview training, and CV workshops.
The Prime Minister welcomed the partnership between the Federation of Small Businesses, the Government and universities across the country. He said: “We are committed to supporting young people as they develop in their careers, which is why we have invested over £13 million in new internships, and in the training and mentoring of people taking them up.
“Almost 7,000 places are now being offered by universities across the country, and I am pleased to see so many universities working with the Federation of Small Businesses and the Government to give seven thousand graduates this great opportunity and first taste of working life.
“By Backing Young Britain and working with small businesses through these difficult times, we can help ensure that we secure sustainable economic growth for the future.”
The internships are predominantly intended for unemployed graduates from any university who were awarded undergraduate degrees in 2008 or 2009. It is hoped that the internships will improve participants’ skills and experience and may lead to full-time work.
Bucks New University will work with employers to facilitate the employment of the graduates, and will handle the recruitment administration on behalf of the employers. This will streamline the process and minimise the workload for employers. For employers paying the minimum wage or above, the University will provide a salary subsidy of £1,200 from the HEFCE grant to each intern as a significant contribution to wages and training, and employers will be required to match-fund the subsidy in order to provide the graduate with a 12-week internship opportunity.
According to Susan Jones, director of enterprise at Bucks New University: "This is a very worthwhile scheme and one in which we are pleased to be involved. We have developed relationships with organisations throughout the region and are confident that we can provide positive experiences and a ‘foot in the door’ for many young graduates who are currently seeking work.”
Bucks New University has a target of organising 30 internships by the end of March, and a further 10 by the end of September.
The project will primarily focus on providing interns for small businesses within the Thames Valley, building on the University's strong links with the Federation of Small Businesses (FSB), the Buckinghamshire Economic and Learning Partnership, Ngage Solutions (Business Link), the Buckinghamshire Innovation and Growth team, Thames Valley Chamber of Commerce, and local Institute of Directors branches. It will also build on the contacts developed through the University’s Practical help in tough times and Knowledge Transfer Partnership (KTP) projects, as well as involving the voluntary sector through the Council for Voluntary Service.
Many graduates have already registered their enthusiasm to take part in the scheme, and the University welcomes further interest from any 2008 or 2009 graduates who wish to become involved.
Likewise, interest from local employers has been very positive. SITEFORUM, an international leader in online marketing and social networking for business applications, is working with the University on developing its web presence and is considering the internships scheme as a means of providing additional support for the project.
David Bashford, director of SITEFORUM, said: “The internships scheme seems to be a great initiative, a potential win-win situation for both the graduate and the employer in these challenging economic times. We hope to work with the University to make the most of this opportunity.”
If you are either a graduate or an employer and are interested in becoming involved in the internships scheme, contact the Open 4 Business team at Bucks New University on 01494-605244, or email: open@bucks.ac.uk