Since 2015, NatWest has been a beacon of support for budding entrepreneurs, supporting them to run and grow their businesses through its free Accelerator.
As the scheme marks its decade-long journey, NatWest is commemorating this milestone with the introduction of NatWest Accelerator Pitch, a competition with a £1 million prize pool designed to provide small business owners and entrepreneurs with an opportunity to win funding to drive their growth.
In the next stage of its expansion, NatWest is also looking to partner with up to 10 UK universities to open new business accelerators in the next three years. This investment in the bank's programme intends to offer 10,000 entrepreneurs the chance to join its Accelerator community in 2025.
Speaking about the launch of the competition as well as the Accelerator’s commitment to supporting businesses and the wider economy, Robert Begbie, CEO of NatWest'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 – starting with our ambition of supporting up to 10,000 entrepreneurs in 2025.
"We are ambitious for the UK 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 UK universities, combining our strengths to help entrepreneurs commercialise their ideas, and kickstart economic growth.
"As we celebrate the milestone of the Accelerator's tenth anniversary, we are excited to launch NatWest Accelerator Pitch, a new £1 million pitching competition offering small businesses the opportunity to win a share of the funding to fuel their growth.
"We'd encourage any entrepreneurs with big ambitions for their business to apply."
Pitch perfect
NatWest Accelerator Pitch is open to businesses with up to £1 million in revenue, registered in the UK, and trading for one to five years. NatWest Group customers and non-customers aged 18 or over who are UK residents may apply.
The bank is calling on small business owners throughout the UK to be in with a chance of winning by submitting a 60-second video pitch explaining how the funding could accelerate their business growth.
Applicants are encouraged to share their history of setting and reaching business objectives and compelling examples of how the financial support would enhance their business development.
The most promising entries will be chosen to advance to live final events scheduled for 2025 in Manchester and London. During these events, five finalists will present a 10-minute pitch, 'Dragon's Den' style, to a panel of judges.
Finalists will present their business ideas and respond to questions from a panel of industry experts. At each event, the top three pitches will share a £100,000 prize, with the overall winner receiving £70,000 for their business.
Judging criteria will include the strength of their business models, innovative growth strategies, and the potential impact of the prize money on their future success.
With the first live final taking place in Manchester this July, local entrepreneurs are encouraged to sign up and show off their business. The remaining live final will take place in London later this year.
Looking ahead to 2026, the bank is considering broadening NatWest Accelerator Pitch's reach to more locations across the UK. Each regional event will offer a total of £100,000 in funding, which will be distributed among the top three winners.
A catalyst for achieving your business goals
For 10 years, NatWest Accelerator hubs have supported 9,737 businesses, raising more than £684 million in investment and creating more than 12,000 jobs.*
One local business that has greatly benefitted from Accelerator funding is online retailer Foudys.
Founded by Helen Hardy, Foudys is an official retail platform dedicated to women's football merchandise. Helen started the business from her bedroom in 2020, and within two months, she quit her job and became a full-time entrepreneur.
Grappling with the demands of running a young business, Helen decided to join the NatWest Accelerator in Manchester. There, she met Jess Grocutt, an acceleration manager at the Manchester hub, who became her mentor and what she calls the 'biggest catalyst' for achieving her goals.
Joining the programme was also a turning point for Foudys, with Helen securing her first round of investment. Within a year, Foudys had a contract with Nike.
Talking about her experience with the NatWest Accelerator, Helen said: "Being an entrepreneur is a bit like being an elite sportsperson – it requires an incredible amount of mental resilience.
"Having people around who encourage you to keep moving towards your goals is really important. The belief that NatWest showed in me was a massive confidence boost.
"I needed investment to grow my business, and NatWest was a huge part of that process. My mentor, Jess, supported me in figuring out how much I would need and then said, 'let's do a mock pitch with real investors'.
"I pitched Foudys to three investors, and one of the investors in the room was the one."
Find out more about the NatWest Accelerator Pitch and upload your 60-second video to be in with the chance of securing funding for your business by visiting the website here.
This competition is being organised by NatWest. Terms and conditions apply and can be viewed on the website here. You can also view the organiser's privacy policy here.
*Since 2015 the NatWest Accelerator has supported 9,737 businesses who have raised £684 million in investment and created 12,831 jobs. These businesses report a turnover of £1,254 million. These are self-reported figures given by accelerator participants, last verified in June 2024.
