Member Article

Multi-million Yorkshire accelerator hub launches to provide entrepreneur support

A new regional business accelerator hub in Yorkshire has been announced by NatWest and RBS.

They will offer £1 million of cash awards to UK entrepreneurs every year and provide multi million pound regional support for entrepreneurs from any sector with up to 18-months free programme of hands on mentoring, peer support and acceleration.

The banks intend to set up a network of eight new business accelerator hubs, including one in Leeds, 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.

The Leeds hub will unite users with fellow entrepreneurs, specially trained bank staff and experienced, aspirational business mentors.

The entreprenuers 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.

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.

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.”

Mark Winters, regional managing director, North at NatWest, said: “I am delighted to see this fantastic programme come to Leeds.

“At NatWest we are supporting entrepreneurs throughout the Yorkshire region as they embark on their business aspirations. This is another important step as we strive to provide outstanding support to both our new and growing customers.

“Yorkshire is the centre of a great deal of our business activity, and we will be placing all our experience and expertise into the new business accelerator hubs.”

This was posted in Bdaily's Members' News section by Clare Burnett .