And now for some real apprentices

The foundation has been set up by Pawle with Sir Nigel Rudd, chairman of Invensys and BAA, and Lord Davies of Abersoch, the former trade minister and Standard Chartered chairman, with the aim of finding 25 of the country’s brightest prospects.

These young people will be offered year-long paid internships at leading small to medium-sized businesses to learn the skills needed to launch their own companies.

“It struck us that the most effective way of learning is on the job,” said Pawle. The course will allow these prospects to work as assistants to chief executives, discovering how to deal with risk, handle employees and customers and have a role model from whom they can learn.

Among the companies lined up to take budding entrepreneurs under their wing for a year are YouGov, the pollster, online grocer Ocado, internet gaming group Gamesys and Fresh Minds, a recruitment company that will also handle the selection for the whole scheme.

The hope is that, having spent a year embedded in these entrepreneurial environments, the candidates will start their own firms.

Although several initiatives are being launched to help the economy recover, such as the New Enterprise Allowance for the unemployed with ideas for new businesses, Davies believes there is a gap in the market for a project like this.

“Britain is very good at research but we are less good at taking those start-ups and turning them into giants,” he said. “We don’t inspire young people enough. This is part of that, inspiring young people and spreading the word that it’s worth taking the risk.”

One of the challenges facing the foundation is in persuading young people to reject the traditional path of new graduates joining the management training schemes of big companies or going to work in the City, where the rewards are both immediate and significant.

Rudd said: “If we can get people young enough into a smaller business, they will start to understand what really drives these companies. Really bright guys going into big companies will go down the management path. They will probably become a great success but very few will become entrepreneurs.

“In smaller businesses, the issues you have are very broad. They involve looking at the whole of the business. Modern, smaller companies desperately need young, really bright people to come in.”

There is also the question of whether budding entrepreneurs need this kind of leg-up — the keenest may be more inclined to go it alone. That may be true, said Davies, who added that the more these sorts of initiatives get under way, “the better it is for the UK”. “We are a nation of small businesses. We need more role models for entrepreneurs and schemes to help them.”

The foundation will shortly begin recruiting its 25 future entrepreneurs and hopes to attract people from a range of backgrounds who will start their placements in September. There won’t be an age limit, but it is expected that most will be under 30.

The founders have succeeded in drumming up backing from a range of well-known companies and business figures. Branson, whose Virgin Group is a sponsor, said: “As the UK looks to rebuild and rebalance its economy and ensure it is competitive in the 21st century, we must encourage, mentor and celebrate a new generation of entrepreneurs.”

Luke Johnson, founder of Risk Capital, the investment firm, who will serve on the foundation’s advisory council, said: “The more we can encourage, train, inspire and help those who are the risk-takers and business builders, the better.”

He said that the culture in Britain appears to be evolving in favour of starting one’s own business. “I particularly approve of schools and universities promoting entrepreneurship and self-employment as possible career options,” said Johnson.

A place on Forbes’ roll call of billionaires may await those willing to take the plunge.

For more information go to newentrepreneursfoundation.com