Royal Bank of Scotland to open 8 “business accelerator hubs”
The Royal Bank of Scotland and its NatWest brand are opening eight “business accelerator hubs” including one in Manchester.
The centres will cater for up to 160 people a year in two separate intakes and offer free workspace, mentoring, a “start-up bootcamp” and an 18-month programme of advice and support.
The Manchester hub also promises to unite users with fellow entrepreneurs, especially trained bank staff and experienced business mentors. The location is yet to be decided.
RBS said there will be a chance to pitch to potential investors, along with “growth awards” of up to £50,000. The first will open in Birmingham next year with others following over the next two years.
Alison Rose, chief executive 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 bank has welcomed applicants from any sector who do not need to be NatWest or RBS customers.