MANY of you reading this will have been among the 1,600-plus visitors to the Venturefest Yorkshire event held at York racecourse in February - and perhaps were inspired by the vast range of activities from entrepreneurs of all ages.

The aim of Venturefest has been "to connect knowledge and technology- based entrepreneurs with everything they need to make them successful".

Why all this interest in entrepreneurial activities and knowledge-based start-ups? It is now broadly accepted that high-growth, knowledge-based businesses are of critical importance to the future success of the UK economy and, therefore, steps need to be taken to encourage and promote activities that will support such objectives. But there is a problem as politicians, and therefore public sector organisations, need quick wins and providing a rapidly flowing pipeline of would-be entrepreneurs and new business start-ups doesn't happen overnight.

There are many excellent schemes for supporting young businesses, but the two key issues - of getting enough of them and growing them fast enough - remain. It might be argued these key issues will only be achieved in the long-term, by developing entrepreneurial and innovative skills right through from the earliest age.

It was for this reason that, while down in Oxford at their Venturefest last week, I was particularly pleased to meet Kirill Makharinsky.

This impressive 19-year-old, reading applied mathematics, is currently president of Oxford Entrepreneurs whose mission is "to encourage and support student entrepreneurship by providing inspiration, education, networking and the chance to learn by doing at the University of Oxford and beyond".

Importantly, this society is run by students for students, has more than 1,000 members, and has already spun out more than 10 companies in little more than two years.

York is itself no laggard in providing opportunities for undergraduates to explore and develop their entrepreneurial skills, both academically and practically.

There are now enterprise-related modules in the core curriculum of almost all science subjects at the University of York and The York Award provides a personal development programme through a range of extra-curricular courses focused on entrepreneurship.

Other programmes such as Running Your Own Show give students the opportunity to work in teams to prepare a viable business plan. This year, one of the best ideas was for a dim sum restaurant, based around a sushi-style conveyor belt.

There is also a White Rose Universities business plan competition, with £10,000 as the first prize; and 20 students this year will work in small businesses through the summer under the highly successful Shell Technology Enterprise Programme.

So, all looks to be alive and well in stimulating and supporting entrepreneurialism among undergraduate students, although I was particularly enthused by the Oxford, student-led programme that could well be deployed here in York.

While I have focused on undergraduates here, of course the principle of introducing entrepreneurialism as early as possible means that we need to start in the schools.

York is well served in this respect through the North Yorkshire Businesses Education Partnership that organised another scintillating Engineering Inspirations event at the Yorkshire Air Museum at Elvington, last week.

The trick, now, will be to turn all this enthusiasm and increased awareness and skills in our young people into more, flourishing, successful and high-growth businesses.

That is what Venturefest is all about. It's no surprise that next year's Venturefest Yorkshire, to be held again at York Racecourse on February 8, 2006, will include both schools and undergraduate participation as part of the anticipated 2000 delegates.

For more on this subject log on to www.venturefestyork.net

Updated: 11:05 Wednesday, July 13, 2005