Retail tycoon Malcolm Walker described himself as a graduate of the “university of Woolworths” when he stepped up to receive an honorary doctorate from Huddersfield University.

The founder and chief executive of frozen food chain Iceland, who grew up in Grange Moor, began his business as a sideline in 1970 with capital of just £30 while working as a trainee manager at Woolworths.

His venture selling strawberries from a roadside stall got him the sack from Woolies – but set him on the path to building one of the biggest names on the high street.

Mr Walker said he was delighted to receive an honorary award from his hometown university, which was conferred for “outstanding services to the world of commerce and entrepreneurship, together with his philanthropic work”.

Said Mr Walker: “Huddersfield was where I began my career as a dance promoter – when I should have been working hard at school!”

The award was conferred on Mr Walker by university vice-chancellor Prof Bob Cryan during one of the 31 ceremonies taking place during graduation week. Students of the university’s business school were also receiving their awards.

Mr Walker received an introductory oration from the dean of the business school, Prof Chris Cowton. In his response, the entrepreneur joked: “There are two ways to get a degree. One is to work hard at school, so that you get to university, and then work hard to get good grades. The other path is to fail at school, never go to university, get a career and then wait 45 years until they give you a degree!”

Malcolm Walker, founder and chief executive of Iceland, after receiving his honorary doctorate from Huddersfield University

Mr Walker also had words of advice to the business graduates. He urged them to learn the lessons of failure, to believe in themselves and never, ever give up.

Prof Cryan praised Mr Walker’s “truly inspirational” speech, saying: “What a journey he has been on, since starting up with capital of just £30. There is a clear message for all our business graduates. And I myself realised a long time ago that if you don’t believe in yourself, then why should anybody else believe in you?”

Under Mr Walker’s auspices, Iceland has raised millions of pounds for good causes, including the Alder Hey Children’s Hospital Imagine Appeal, Help for Heroes and Alzheimer’s Research UK. His personal fundraising efforts have included taking part in the Iceland Everest Expedition of 2011 with his son Richard, a record-breaking Descent of the Shard abseil in 2012 and an unsupported trek to the South Pole in the same year – when Mr Walker had to be airlifted for emergency medical treatment.

Mr Walker was awarded the CBE in 1995.