Press Release
Nurturing innovation
13 September 2007
The overall aim of the Sainsbury Management Fellowship scheme is to improve the economic performance of
Encouraging innovation by nurturing entrepreneurial engineers coming out of universities is at the heart of what we do. Part of this involves providing mentors and networking opportunities as we believe that innovation is not just about having a great idea. It’s about having the right support and contacts to help make it happen.
The importance of mentors
The importance of having a mentor can not be underestimated. Whether you are in academia, are an entrepreneur or an intrapreneur in your own organisation, mentoring can give you access to the valuable lessons learnt by others. This wisdom will give you the tools to find the right route when faced by challenges.
There is a range of mentoring networks in the
We heartily encourage all engineers to seek out mentoring opportunities – externally and from within your own company. Internal mentors are particularly useful when you need to find ways to navigate the corporate bureaucracy that can often stifle innovation within organisations.
How networking can make a difference
The engineers who become members of SMF benefit from the networking opportunities offered by an active calendar of educational, industry, and social events. Many SMFs have met their future business partners, identified leads to kick-start their new business pipeline, and even been put in touch with investors through such opportunities.
It is also important to maintain links with the research departments of your alumni. This will keep you in touch with the innovation coming out of universities. Equally, we ask employers and universities to leverage existing networks more effectively to provide the support needed to foster innovation.
Education and innovation go hand in hand
Many engineers who have developed ideas or started up businesses and are then looking to grow them find that they lack knowledge in particular areas; often marketing, financial planning and business strategy.
One of the best ways to rectify this is by studying for an MBA. An MBA can provide you with an insight into the business requirements of innovation and can help you develop your strategic and financial skills as well as engineering and managerial experience. In addition, an MBA gives you a range of contacts and self-confidence which become valuable to your and your employer’s businesses.
Make it happen
We are incredibly pleased to be involved with the inaugural Technology and Innovation Awards launched by The Engineer in recognition of the work undertaken by the