Sugar and Dragons under fire for "X Factor entrepreneurialism ...

Hit TV shows like Lord Sugar's The Apprentice and Dragons' Den are giving a generation of young people "unrealistic expectations" of life as an entrepreneur, according to the managing director of crowdfunding company Peoplefund.it.

In a speech at Cass Business School to mark the launch of the Next Generation Finance Consortium tomorrow, Nick Underhill will lambast the "X Factoring of entrepreneurialism".

"Dragons' Den and The Apprentice are giving a whole generation of entrepreneurs the wrong impression of what entrepreneurialism is all about," he will tell the audience of business chiefs, bankers and Government aides.

"Very few entrepreneurs have the luxury of sitting in front of four super-wealthy individuals and asking them for money - or indeed driving round in a limo at Sir Alan's behest in order to show what you can do in a hypothetical situation.

"Entrepreneurialism is all about getting real people to back and buy into your ideas with real money. It's about hard work, drive and ambition; not something glamorous you can edit into a half-hour TV programme.

"It's time to give real support for real-life situations."

Peoplefund.it was set up by the team behind TV chef Hugh Fearnley-Whittingstall's River Cottage and Hugh's Fish Fight. It allows people with ideas for business and community projects to set a funding target up to ?50,000 and gives them a platform to solicit donations.

Backers can pledge anything upwards of ?1 to a project, along with their time and skills if they wish. They only pay if the scheme reaches its fundraising target. In return for their support, the project organisers offer a range of rewards, such as event tickets or products.

Recent successes include the FoodCycle Community Cafe in Haringey, London, which makes three-course meals using surplus produce that would otherwise go to waste. The project recently passed its fundraising target of ?5,000.

By Andy Jowett

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Source: http://www.enforbusiness.com/news/sugar-and-dragons-under-fire-x-factor-entrepreneurialism-20128099

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