20 November 2017
visit www.avoka.com

RBS prepares to open executive wing to startups

11 February 2016  |  7932 views  |  1 RBS HQ

Royal Bank of Scotland is preparing to welcome 100 entrepreneurs and ten startup support organisations to the executive wing of its Scottish HQ following a year-long refit of the former symbol of big bank excess.

The bank splurged £350 million on the building to the west of Edinburgh under the reign of former chief executive Fred Goodwin and became a focal point for anger over lavish spending and opulent furnishings in the wake of the 2008 credit crunch.

In its new role, the centre will house staff from business organisations: Entrepreneurial Spark; Entrepreneurial Scotland; Business Gateway; Napier University; Scottish Edge; The Princes Trust Scotland; The Lens (Scotland's social EDGE Fund); Big Noodle; Bright Red Triangle; and We are the Future.

Sited next to the bank's new 'Open Experience' technology solutions centre, the Gogarburn building will also be home to an Entrepreneurial Spark Business Accelerator Hub, including a ‘Hatchery’ for early stage start-ups and a ‘Nest’ for high growth, high impact businesses.

The bank has already opened nine Entrepreneurial Spark hatcheries in its regional offices across the UK, and promises to open four more over the next twelve months.

At Gogarburn, the accelerator hub will house the first intake of 100 entrepreneurs, who will receive free office space and WiFi as well as access to specially trained RBS staff and business mentors. RBS employees will also be encouraged to collaborate and network with business owners located in the centre, not just to share their expertise, but to help staff learn first hand more about the challenges faced by start-up businesses.

Entrepreneurs will also have the opportunity to pitch to potential investors and compete for growth awards of up to £100,000.

"If there was ever a clear sign of our change as a bank, this is it," says RBS chief Ross McEwan. "This centre is hugely important to the bank and it is no accident that we have also moved it to the heart of our headquarters. It means we can focus more on innovation and build the future of banking with our partners from Scotland and around the world.

"It will also mean the entrepreneurs will have access to some of the best technology minds in the bank. For a start-up tech company this sort of access can take years to source so this partnership will help accelerate that process, help create jobs and help grow the economy."

Comments: (1)

Jean-Pierre Xiao-Min Wang
Jean-Pierre Xiao-Min Wang - IndiceA - Sophia-Antipolis, France | 11 February, 2016, 16:15

Bank existing, startup creating, & future changing :

"To exist is to change, to change is to mature, to mature is to go on creating oneself endlessly" --- Henri Bergson, French philosopher

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

RBS selects 'eco-innovation' finalists; aims to open carbon neutral branch

RBS selects 'eco-innovation' finalists; aims to open carbon neutral branch

09 November 2015  |  5442 views  |  0 comments | 4 tweets | 4 linkedin
Nanotechnology and beehives to the fore as RBS refurbishes HQ

Nanotechnology and beehives to the fore as RBS refurbishes HQ

02 October 2015  |  5861 views  |  0 comments | 3 tweets | 5 linkedin
RBS pledges to boost resilience spend after latest IT failure

RBS pledges to boost resilience spend after latest IT failure

19 June 2015  |  15187 views  |  5 comments | 20 tweets | 8 linkedin
RBS transforms 'executive wing' into entrepreneurial hub

RBS transforms 'executive wing' into entrepreneurial hub

04 March 2015  |  8132 views  |  0 comments | 12 tweets | 6 linkedin
NatWest and RBS to launch accelerator hubs for entrepreneurs

NatWest and RBS to launch accelerator hubs for entrepreneurs

29 September 2014  |  5752 views  |  0 comments | 10 tweets | 3 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.aciworldwide.comvisit www.atos.netvisit www.solutions.lexisnexis.com

Top topics

Most viewed Most shared
Ripple boss predicts central bank adoption of blockchainRipple boss predicts central bank adoption...
16973 views comments | 25 tweets | 28 linkedin
Singapore central bank open sources blockchain prototypesSingapore central bank open sources blockc...
12469 views comments | 15 tweets | 29 linkedin
AmEx partners Ripple and Santander for blockchain-enabled cross-border paymentsAmEx partners Ripple and Santander for blo...
10650 views comments | 15 tweets | 39 linkedin
Digital receipt startup Flux scores game-changing deal with BarclaysDigital receipt startup Flux scores game-c...
10305 views comments | 20 tweets | 36 linkedin
UK cryptocurrency exchange startup launches debit card for spending bitcoinUK cryptocurrency exchange startup launche...
8729 views comments | 26 tweets | 37 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job