NatWest business accelerator hub project will kick off in Birmingham

THE Royal Bank of Scotland’s NatWest brand is opening eight “business accelerator hubs” with the first one being in Birmingham.

The centres will cater for up to 160 people a year in two separate intakes and offer free workspace, mentoring, a “start-up boot camp” and an 18-month programme of advice and support.
 
The bank says the hubs will also unite users with fellow entrepreneurs, especially trained bank staff and experienced business mentors.

RBS said there will be a chance to pitch to potential investors, along with “growth awards” – a grant of up to £50,000.

The first hub 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 said applicants will be welcomed from any sector and do not need to be NatWest or RBS customers. But they must have businesses that have been trading for less than four years with a turnover of under £1m.