Member Article

NatWest announces eight new regional business accelerator hubs in partnership with Entrepreneurial Spark

• Multi million pound regional support for thousands of entrepreneurs from any sector
• Free access to business accelerator hubs across the UK in NatWest premises
• Up to 18-months free programme of hands on mentoring, peer support and acceleration
• Over £1m of cash awards to UK entrepreneurs every year
• Regular educational and networking events
• Builds on successful partnership with Entrepreneurial Spark in Scotland

NatWest and RBS are stepping up their support for thousands of entrepreneurs and high growth businesses with a network of eight new business accelerator hubs that will offer free workspace, hands on mentoring, a start up ‘bootcamp’ and a free programme of up to 18-months of advice, support and funding clinics.

Entrepreneurs will gain access to hubs in Birmingham, Bristol, Cardiff, Leeds, Manchester and Belfast, uniting them with fellow entrepreneurs, specially trained bank staff and experienced, aspirational business mentors. They will also have the opportunity to go on to pitch to potential investors. ‘Growth awards’ of up to £50,000 will also be launched across the country offering cash injections to businesses when they need it most. A further two locations will be announced next year.

The hubs will be rolled out over the next two years, beginning with Birmingham early in 2015. NatWest will look to situate hubs in existing banks premises where possible. Building on the Entrepreneurial Spark model which has already proved very successful in Scotland, applicants will be welcomed from any sector and do not need to be NatWest or RBS customers. Applications are being accepted now for the Birmingham programme and entrepreneurs in other cities can also register their interest online*.

Alison Rose, CEO of Commercial and Private Banking, said: “This is a step-change in how NatWest supports entrepreneurial talent in the UK. By opening up our premises and providing them with support and a far reaching network of contacts, we are backing the businesses of tomorrow and helping ambitious entrepreneurs take their businesses to the next level. This is good for them, good for us and ultimately good for the UK economy. We have a trusted partner in Entrepreneurial Spark and together we can really make a difference to those businesses at the start of their journey.”

The hubs will be physical work spaces for up to 80 entrepreneurs selected to join the programme through a competitive application process, with each hub hosting two intakes every year. At the end of the programme each hub will host a ‘graduation’ event bringing together entrepreneurs, investors and business advisors for mentoring and networking sessions. These events will also see rewards for outstanding businesses and the opportunity for the graduating businesses to pitch to win cash injections for their business.

Jim Duffy, CEO of Entrepreneurial Spark, said: “Our work in Scotland has had a positive impact on the huge upsurge in the number of new business incorporations, and better still those who go through our programmes have an 80% survival rate which is way above average. Our shared vision with NatWest is to create an entrepreneurial revival across the UK and we can’t wait to take our success story to benefit a wider audience.”

Leah Hutcheon, founder of online appointment booking software Appointed, grew up in Blackpool and attended Birmingham University before moving to Edinburgh to continue her studies. Leah was in the second intake of Entrepreneurial Spark alumni in Glasgow and recently raised £160k in angel funding. Hutcheon says of the scheme: “Entrepreneurial Spark helped me to take my business from an idea to an investible, scalable and credible position and without doubt the input from Entrepreneurial Spark’s enablement and mentor teams helped me to secure angel investment that will allow me to take my business to the next level. For anyone considering applying, whether you have an idea or an exciting new business that is already going places I’d say go for it, you’ll never look back.”

ENDS

Notes to Editors:

• Case studies available on request
• The Entrepreneurial Spark powered by NatWest programme is open now for applications from early stage and growing ventures with big ambitions.
• *Applications are being accepted now for the Birmingham programme and entrepreneurs in other cities can also register their interest online here - http://www.entrepreneurial-spark.com
• Businesses must have been trading for four years or less and have a turnover of < £1m. Applicants do not have to bank with NatWest or RBS.
• Successful applicants will benefit from working in a collaborative office environment suitable for building teams, businesses will receive free IT and wifi, access to business advice and support with a pool of specialised mentors, networking opportunities, workshops, pitch practice and more.
• The new business accelerator hubs are just one part of the bank’s new entrepreneur strategy. NatWest will also host ongoing competitions, graduations and events to bring together investors, entrepreneurs, advisors, relationship managers. The bank will also develop existing relationship managers who understand entrepreneurs and high growth businesses with ongoing training to ensure that they can better serve entrepreneurs.
• All participating businesses eligible for ‘growth awards’ of up to £50k.

Entrepreneurial Spark is a business accelerator for early stage and growing ventures from all sectors that is completely free for the entrepreneur and takes no equity in supported businesses. Located across three spaces in Glasgow, Edinburgh and Ayrshire, Entrepreneurial Spark’s vision is to develop an entrepreneurial revival across the UK.

This was posted in Bdaily's Members' News section by Nicola Corns .