The three-year partnership builds on the opening of Entrepreneurial Spark’s first of eight UK business accelerator hubs in February, with NatWest’s office in Birmingham’s city centre housing the debut startup location.
KPMG will look to help the 2011-launched Entrepreneurial Spark programme flourish, building on the current support of almost 1,000 startups and the creation of 1,700 jobs – all of which has been achieved with the latter’s “secret sauce”. This will be achieved by supporting startups with 1,000 hours of support each month over the period.
Following the pioneering launch in Birmingham, business accelerator hubs – referred to as Hatcheries – have also been opened in Bristol, Leeds and Brighton. KPMG will provide Chiclets – entrepreneurs in the Hatcheries – with details on improving business plans, being ready for investors, understanding cash and profit importance, and the impact choices can have on finances.
“At the heart of KPMG Enterprise is a deep-rooted commitment to providing coaching, support and advice to aspiring entrepreneurs, so we’re delighted that this new partnership with Entrepreneurial Spark and NatWest will enable us to provide a vital helping hand to early stage and growing ventures up and down the UK, said Iain Moffatt, head of enterprise for KPMG in the UK.
“Entrepreneurial Spark is working with the big businesses of tomorrow, so the more we can do to help entrepreneurs understand and get to grips with their numbers, and ultimately help them to secure investment, the better.”
The firm will have a dedicated presence at the Entrepreneurial Spark head office in Scotland, while support will also be spread across NatWest Hatcheries across the country, which will be achieved by providing secondments in different locations.
Additionally, it will offer access to its Small Businesses Accounting service, while boosting NatWest’s six-figure startup prize funds, which are awarded to successful businesses.
Jim Duffy, Entrepreneurial Spark CEO, said: “At Entrepreneurial Spark, one of our top challenges is ensuring that those startups which are seeking investment are truly investor ready. We searched the country for a leading accountancy firm willing to give back and support entrepreneurship, and were blown away by the commitment of the KPMG team.
“We look forward to working with them across the country over the next three years, enabling entrepreneurs across the country to grow their businesses, create jobs and support the economy.”
Image via Shutterstock.
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