THE Government should create a new honours order that is dedicated to entrepreneurs who start fast-growing businesses, a think tank has suggested.
Under plans drawn up by the Entrepreneurs Network, more than 200 start-up founders each year would join a new “Elizabethan Order” and be handed medals featuring an owl to honour Athena, the ancient Greek goddess of wisdom.
The Queen could award founders using this new order from 2022 instead of handing them MBEs and OBEs, the group suggested, Its proposals were backed by John Penrose, a Conservative MP and the Anti-Corruption Champion at the Cabinet Office.
He said: “Britain has always been better at recognising the achievements of people who rise to the top of established professions and industries, rather than the innovators who create new ones.
“But ultimately, the power of ideas is what drives the technologies that create new jobs and economic growth, and that fuel our society and culture, too. This is a creative and interesting idea to redress that balance.”
It is estimated the scheme would cost £66,000 a year to run, following an bill of up to £20,000 to establish the order.
The Entrepreneurs Network’s proposal said: “The creation of a new order of chivalry for inventors and innovators would show that the UK is serious about its intended aim of being the best place in the world to be a scientist, entrepreneur or inventor.”
While a number of start-up founders and investors were handed honours during David Cameron’s time in No10, this trend tailed off under Theresa May and the latest list last Friday featured no technology founders.