Deloitte to back employee start-ups
ACCOUNTANCY group Deloitte said it will invest £25m to help its employees start their own businesses.
Employees will be given funding and the time to work on developing their business idea, whilst drawing on advice from the firm.
It said the initiative, “recognises the demands of a new generation of young professionals who aspire to a diverse and agile career”.
Staff who can demonstrate the feasibility of their ideas will start working full-time within a new unit Innovation Investments Ltd, where there will be a “reward model to ensure mutual benefit for the entrepreneur and the firm”.
David Sproul, chief executive of Deloitte, said: “This is a first for our firm and a first for our industry. We know that an increasing number of people are attracted to the idea of setting up their own business and trying something different. We believe this initiative offers a unique opportunity to pursue those entrepreneurial ambitions whilst remaining an employee of Deloitte and benefiting from the strength of our brand, experience and expertise.”
More than 50 ideas have already been submitted since the launch at the end of October.
Martin Jenkins, practice senior partner for Deloitte in Yorkshire and the North East, said: “This is a really exciting opportunity. Innovation Investments gives every Deloitte employee the chance to become CEO of their own company. Our aim is to develop new, standalone businesses that create future solutions for our clients in a world of rapidly changing technologies and shifting consumer demands. We have some of the most entrepreneurial minds in the country right here in our organisation and we want to give them the opportunity to develop in unique ways. Combining Innovation Investments with our existing external investment programmes should create something really powerful for our people, our clients and the wider market.”
