On the 24th of October 2013, Sir Richard Branson announced the latest division of his Virgin Empire, the Virgin StartUp. This not-for-profit company serves to empower young entrepreneurs across the UK by providing financial support, mentoring and business advice across all sectors.
“I started my first business with a handful of coins out of a phone-box at school, but it was the £300 from my mum that really kick-started our Student magazine and sparked the Virgin adventure 40 years ago. Today, young people need that same help and I believe Virgin StartUp will provide it – with access to early capital, strong mentorship, advice and promotion. We look forward to helping launch thousands of new businesses as a delivery partner of The Start-Up Loan Company across the UK in years to come.” –Sir Richard Branson
Virgin StartUp is working in conjunction with The Start Up Loans Company in order to provide financial support to entrepreneurs between the ages of 18 – 30.
Virgin is going to be investing in a central team to manage the new company. Drawing from resources provided by the empire, Virgin StartUp is the collaboration between Virgin, Cavendish Consortium and the National Enterprise Network. Virgin StartUp is well-equipped with support from Virgin’s UK companies, some of which include:
- Virgin Trains
- Virgin Media
- Virgin Atlantic
- Virgin Active
- Virgin Care
- Virgin Unite.
All these companies will come together to provide access to staff mentors, marketing and media support, business advice as well as providing space to host networking or promotional events.
This new Virgin initiative plans to develop a mentoring programme along with a series of regional events to promote new businesses and showcase their established entrepreneurial expertise.