NatWest Group Champions Startup Growth with Expanded Accelerator Initiative

NatWest Group Champions Startup Growth with Expanded Accelerator Initiative

(IN BRIEF) NatWest plans to accept up to 2,500 entrepreneurs into its accelerator program in September, urging business owners seeking growth opportunities to apply. As the largest bank for startups in Great Britain, NatWest Group serves around one in five businesses under two years old. Its Accelerator program, ranked third in Europe for networking, has supported numerous entrepreneurs, including successful ventures like GoJoe, a social fitness app. GoJoe’s Co-Founder, Phil Steele, praised the program for its transformative impact, having raised over £1 million in funding and garnered support from global corporations like Amazon and Diageo. NatWest’s Accelerator offers free support, including coaching and networking, across its 13 physical and one digital hub, with applications open until August 2nd.

(PRESS RELEASE) LONDON, 3-Jun-2024 — /EuropaWire/ — In a bid to foster entrepreneurial growth, National Westminster Bank (NatWest), the largest bank for UK businesses, has unveiled plans to host up to 2,500 budding entrepreneurs in its accelerator programme slated for September.

The programme, renowned as one of the UK’s premier accelerators, beckons entrepreneurs aiming to expand and elevate their ventures. With a record number of slots available, NatWest aims to accommodate a diverse array of new businesses, offering up to 2,500 places free of charge.

NatWest Group stands as a stalwart supporter of start-ups in Great Britain, serving approximately one in every five businesses under two years old. The bank’s Accelerator programme, recently lauded as the third-best start-up hub in Europe for networking, has been instrumental in propelling numerous entrepreneurs towards success.

Among the programme’s notable alumni stands GoJoe, a social fitness app facilitating connections and engagement among workplaces and brands. Boasting clients like Amazon, British Gas, and Diageo, GoJoe has secured over £1 million in seed investment in 2022 and recently concluded another successful funding round.

Reflecting on their journey, Phil Steele, Co-Founder of GoJoe, remarked, “When we embarked on the NatWest Accelerator journey, we were essentially two individuals armed with a PowerPoint. The programme’s coaching, mentoring, and support have propelled us through two funding rounds, garnered investment from professional athletes, and enabled us to develop a product embraced by leading global companies.”

Businesses with promising growth trajectories stand to benefit immensely from NatWest’s Accelerator hubs. The programme offers expert coaching, access to a vibrant peer network, and a calendar replete with thought leadership and events—all without requiring entrepreneurs to relinquish any equity in their ventures.

Spanning 13 physical and one digital accelerator hub across the UK, from Belfast to Warwick, NatWest’s outreach extends far and wide. As applications open for the forthcoming accelerator cohort, entrepreneurs are urged to seize the opportunity before the application deadline on August 2nd.

Darren Pirie, Head of the NatWest Accelerator, emphasized the programme’s pivotal role in nurturing ambitious businesses. “In today’s dynamic business landscape, growth is imperative. As the UK’s foremost bank for start-ups, we are committed to providing comprehensive support beyond traditional lending. Our accelerator hubs have witnessed countless success stories, with businesses securing investments, expanding their teams, and venturing into new markets.”

Entrepreneurs keen on accelerating their ventures can submit applications through the official NatWest website, with the deadline set for August 2nd.

Notes to editors

This press release is for media use only and is not a financial promotion.

1. Based on the % of 586 businesses, less than 2 years old, that name a NatWest Group brand as their main bank (20%). Source: MarketVue Business Banking from Savanta, YE Q1 2024. Data weighted by region and turnover to be representative of businesses in Great Britain.
2. Financial Times, Europe’s Leading Start-up Hubs

About NatWest Group

NatWest Group is a relationship bank for a digital world. We champion potential; breaking down barriers and building financial confidence so the 19 million people, families and businesses we serve in communities throughout the UK and Ireland can rebuild and thrive. If our customers succeed, so will we.

Media contact

Lucy Chislett
Media Relations Manager
Lucy.chislett@natwest.com
07974864900

SOURCE: NatWest Group