What is Engineers in Business Fellowship?

Engineers in Business Fellowship (EIBF) is a charity that promotes the importance and value of business education for engineers in order to improve people’s lives and the performance of the UK and global economies.

 

Established by Lord Sainsbury, EIBF has given away over £8 million in scholarships to young working engineers to study an MBA at the top 14 business schools in the world. The graduated EIBF Fellows are engaged with commerce and industry, as well as offering mentoring and support to various partners including the Royal Academy of Engineering with its Enterprise Hub and Engineering Leadership Advanced Award as well as mentoring individual engineers, including those who win an Engineers in Business prize through university competitions supported by EIBF.

 

Why is it important to support engineering entrepreneurs?

The Engineers in Business Competition Prize Fund is specifically for undergraduate and graduate engineers. It seeks to increase the participation levels in business courses or business competitions by engineering undergraduates/graduates.   EIBF does this because it believes that encouraging more commercial education for undergraduate and graduate engineers is good for engineers and the economy.

 

Good for Students & Employers: Engineering graduate employers have stated that they value skills which are not necessarily widely regarded as a standard part of the typical undergraduate experience.  These include the softer skills such as team working, communication skills, prioritisation, and commercial thinking. Business competitions enable students to use many of these skills and differentiate themselves in the eyes of recruiters and become more employable.

 

Good for Economy:EngineeringUK recently published a report, which at its most positive, projects that the UK will have a shortfall of 20,000 graduates entering engineering jobs.   Our need for engineering talent is pressing yet the UK is failing to persuade enough young people that engineering careers are exciting, well-paid and worthwhile.  Entrepreneurial competitions help to underline the important role that engineers play in creating innovations that change the world for the better.   Some of the most important global challenges we face in the world today are not just technical challenges but require the ability to link technologies to an understanding of the market mechanism, business skills and entrepreneurial commercial thinking. These challenges include delivering and growing secure and affordable supplies of clean water and of energy, to meet the needs and expectations of a fast growing global population.

Some of these problems can be alleviated by injecting the creativity and excitement of commercial education and commercial opportunity into undergraduate and graduate activities. Equipping young engineers with business education can have a substantial and disproportionately highly positive impact on the UK economy.              

   

Good for Industry: Our need for engineering talent is pressing and the UK is failing to persuade enough young people that engineering careers are exciting, well-paid and worthwhile.   Entrepreneurial competitions help to underline the important role that engineers place in creating innovations that change the world for the better.   Some of the most important global challenges we face in the world today are not just technical challenges but require the ability to link technologies to an understanding of the market mechanism, business skills and entrepreneurial commercial thinking. These challenges include delivering and growing secure and affordable supplies of clean water and of energy, to meet the needs and expectations of a fast growing global population.

Some of these problems can be alleviated by injecting the creativity and excitement of commercial education and commercial opportunity into undergraduate and graduate activities. Equipping young engineers with business education can have a substantial and disproportionately highly positive impact on the UK economy.