A business support programme founded in Birmingham has celebrated its tenth anniversary amid new plans to launch ten more sites over the next three years.
The Accelerator was started by high street bank NatWest in the city in 2015 and runs a development programme for start-up companies, offering support, mentoring and networking opportunities.
Since the launch, a further 11 Accelerator sites have opened which together have supported more than 9,700 businesses which have in turn raised over £684 million in investment and created 12,000.
The Birmingham hub, which is based at NatWest's offices in St Philips Place, has supported 755 businesses which have raised £28 million in investment and created 480 jobs.
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Its first tie-up with a university came in 2021 when it partnered with University of Warwick and it now plans to follow this model by creating hubs at ten other universities.
The bank said it was aiming to target businesses in the innovation economy in particular, in sectors such as technology, healthcare tech, life sciences and fintech.
It is also planning to offer 10,000 entrepreneurs the chance to join its Accelerator community in 2025 and also run a £1 million pitching competition to support growth among small businesses.
A series of ten finals will be held, with a prize pot worth £100,000 on offer to the winner of each.
Robert Begbie, chief executive of the bank's commercial and institutional franchise, said: "It's a testament to how much the Accelerator has achieved that we are setting out plans for its expansion.
"We are ambitious for the º£½ÇÊÓƵ and believe that, by unlocking the potential of entrepreneurs, we can support sustained economic growth.
"The next stage of the Accelerator's expansion will involve partnering with more º£½ÇÊÓƵ universities, combining our strengths to help entrepreneurs commercialise their ideas and kickstart economic growth."
