New businesses in Entrepreneurial Spark Powered by Royal Bank of Scotland’s business accelerator hatcheries have generated £24,719,720 in turnover over the last 12 months.
Keith Brown, Cabinet Secretary for Economy, Jobs and Fair Work, visited the Edinburgh location and saw first-hand how collaborative working is enabling fledgling entrepreneurs to grow their businesses at Royal Bank of Scotland headquarters at Gogarburn.
The hatchery receives additional support from KPMG, Dell EMC and Harper Macleod.
Entrepreneurial Spark has 12 other hatcheries across the UK with a further hub to open in London next year.
Scottish bases are located in Edinburgh, Glasgow and Ayrshire, alongside a recently launched Virtual Accelerator in the Highlands and Islands to support businesses across the north of Scotland.
In the last 12 months Chiclets based in the Edinburgh, Glasgow and Ayrshire Hatcheries have secured investment of £3,216,044 and created 198 jobs.
Edinburgh Chiclets alone have generated a turnover of £14,565,763, while Glasgow Chiclets have created 55 jobs and Ayrshire Chiclets have secured investment totalling £380,000.
With businesses based in the Scottish Hatcheries making a big impact on the economy, Keith Brown met with a number of Chiclets, including Sara Hawkins from Run-It, Steve Regis from ARX Defence, Lawrence Brown from ,Julie Shaw Binns of Brand Oath, Calum L. Leslie of YoCo Club, Nick Findlay from City Room Rentals, Phil Mowat of Tie Club, Scott McFarlane from Trans World Experience and Andrew Bone from Airts.
Commenting on his visit, Keith Brown said: “We have made clear our ambition to be a world-leading entrepreneurial and innovative nation. One in which growth and innovation go hand-in-hand with a commitment towards delivering wider benefit to all of society. It is excellent to see so many small businesses making such a large impact on the economy.
“Today’s visit highlights the Scottish Government’s commitment and support to innovation and entrepreneurship in Scotland. Through Scotland CAN DO, we recognise the strengths and entrepreneurial potential of our nation and Royal Bank of Scotland and Entrepreneurial Spark are a key partner in the CAN DO eco-system.”
Lucy-Rose Walker, co-founder and Chief Entrepreneuring Officer (CEO) of Entrepreneurial Spark, said: “It’s been great to have Keith Brown MSP in the Edinburgh Hatchery at Gogarburn and to be able to showcase the range of businesses that are being developed here. It’s been an incredible year for the Scottish Hatcheries; with Edinburgh, Glasgow and Ayrshire Chiclets generating a combined turnover of nearly £25million, securing investment of £3,216,044 and creating 198 jobs.
“With the Edinburgh Hatchery based in the Entrepreneurial Centre at Royal Bank of Scotland’s global headquarters, I hope Keith Brown was inspired by the #GoDo atmosphere and ecosystem of collaboration and innovation.”
Gordon Merrylees, head of enterprise at the Royal Bank of Scotland, said: “The Royal Bank of Scotland is proud of its relationship with Entrepreneurial Spark and the success it is helping so many entrepreneurs here achieve.
“Scotland has a long history of creativity and innovation across all sectors – and accelerators such as Entrepreneurial Spark are crucial for that story to continue. It is important that the public and private sectors, Government and everyone who plays a role in shaping Scotland’s future are aware of the services available to help budding entrepreneurs create successful and scalable businesses.”