Finance Fred Heritage · 20 February 2017
Record growth makes Entrepreneurial Spark the UK’s forerunning startup accelerator
Business accelerator Entrepreneurial Spark has published impressive new statistics, demonstrating its ongoing success at generating startup investment and confirming its status as the world’s largest free business accelerator. In its 2017 Impact report, the NatWest-backed accelerator revealed that the UK startups it has supported since its creation have turned over 176m in total, and secured 151m in investment. The number of jobs created by businesses supported by Entrepreneurial Spark have reached 3, 152, having a hugely positive impact on the UK economy, the report confirmed. In another startling statistic, businesses that have completed the Entrepreneurial Spark programme have an average survival rate of more than double the UK national average. Some 85 per cent of the accelerator’s startup alumnI are still trading, compared to 40 per cent UK-wide the result of a people-centric and action-orientated approach? to business and a focus on resilient leadership, the report explained. Commenting on the latest statistics, Entrepreneurial Spark CEO Lucy-Rose Walker described her gratification that the accelerator was creating positive social changes by contributing to local communities and economies. the stats are truly mind blowing and weve enabled our entrepreneurs to create real jobs, huge turnover and significant investment via our focus on developing their entrepreneurial mindsets and behaviours, she said. In 2016, Entrepreneurial Spark opened new hubs across all sectors and in an increasing number of UK regions. The coming year will see the accelerator launch its thirteenth hub, in London, and the first free dedicated fintech accelerator in Scotland where the accelerator’s first hub launched. Walker added: Our vision is to create positive social change by giving people the chance to grow and create jobs, and value in the economy. our partnership with NatWest is such a powerful one, and enables us to give hands-on practical help to startups of every kind, from that first spark of an idea, right up to bigger businesses needing to scale and grow. NatWest, part of the RBS banking group, is joined by a host of other high profile corporations in its support of Entrepreneurial Spark.
ABOUT THE EXPERTFred Heritage
Fred Heritage was previously deputy editor at Business Advice. He has a BA in politics and international relations from the University of Kent and an MA in international conflict from Kings College London.