Member Article

North East business support outfit secures Richard Branson contract

North East business support organisation TEDCO has announced it will work with Sir Richard Branson on a new campaign to help the region’s young entrepreneurs.

The organisation will work with Sir Richard on his Virgin StartUp vehicle - a not for profit company that offers financial support, mentoring and business advice to young entrepreneurs between the ages of 18-30.

TEDCO recently merged with the Sunderland-rooted North East Business and Innovation Centre (BIC), and will now act as the main access point for people in the region looking to access funding through Virgin StartUp.

The business support provider has won the contract on the back of its success in delivering the Ready for Business programme, which has helped to create nearly 2,300 new businesses over the past 12 months across the UK.

Carole White who has recently taken over at the helm at TEDCO said: “Virgin StartUp has a natural synergy with our hugely successful Ready for Business programme and I’m delighted that Sir Richard has recognised how we can enhance his offering across the whole country with our regional experts.

“In our region, entrepreneurs and new business start-ups play a pivotal role in the local economy and there is a real need to provide the relevant help and support and access to funding if we want these businesses and individuals to succeed.

“Virgin StartUp provides much needed support to the growing number of young people who can no longer rely on the traditional employment routes of the past and so despite their lack of experience are setting up in business.

“It is fantastic that someone with the experience and success of Sir Richard Branson recognises the potential of these young entrepreneurs but appreciates the extra help, support and funding that they require.”

Sir Richard added: “I started my first business with a handful of coins out of a phone box at school, but it was the £300 from my mum that really kick-started our student magazine and sparked the Virgin adventure 40 years ago. Today, young people need that same help and I believe Virgin StartUp will provide it – with access to early capital, strong mentorship, advice and promotion.”

Virgin StartUp is backed by Virgin’s UK companies which will provide access to staff mentors, marketing and media support, as well as space to host networking and promotional events.

Working in partnership with other regional enterprise agencies around the UK, TEDCO is part of the Cavendish Consortium and it is this same consortium of enterprise and business support agencies which has won the national contract with Virgin StartUp thanks to its ability to deliver national programmes with on the ground regional expertise.

This was posted in Bdaily's Members' News section by Tom Keighley .