RBS is transforming the former ‘executive wing’ in its Edinburgh headquarters into a centre for budding entrepreneurs.

It will be home to an Entrepreneurial Spark Business Accelerator Hub, including a ‘hatchery’ for early stage startups and a ‘nest’ for high growth, high impact businesses.

The centre will house up to 80 entrepreneurs, who will receive free office space and WiFi, as well as access to specially trained RBS staff and business mentors. RBS employees will be encouraged to network with the residents of the new hub, to share their own expertise but also learn about the challenges that startup businesses face.

The centre will also host staff from other organisations, such as Business Gateway and Napier University, in a bid to foster collaboration and innovation in the region.

Ultimately, the entrepreneurs will have the opportunity to pitch to potential investors and compete for growth awards of up to £100,000. Applications for the accelerator hub are open to startups in any sector, who do not need to be RBS or NatWest customers.

Ross McEwan, chief executive of RBS, said: “It is not just startup businesses that need to be innovative and forward thinking to thrive and grow; RBS needs to be as well. That is why we are opening up our headquarters so that we can support Scottish businesses of tomorrow, not just with infrastructure, but through the chance to collaborate with experts and other like-minded business owners. This marks a step change in how we can work with partners to support our local economy.”

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