Storey opens new hub to support entrepreneurs

Finance Minister Mervyn Storey today opened the doors of Northern Ireland’s first Entrepreneurial Spark ‘Hatchery’ which will support entrepreneurs to develop their business.

Ulster Bank and KPMG have joined with Entrepreneurial Spark, the world’s largest free business accelerator programme, to help entrepreneurs develop early stage and growing business ventures. The Belfast ‘Hatchery’ will give around 80 entrepreneurs networking and workshop opportunities, access to a team of business enablers, free office space, IT and wifi, for up to 18 months.

Opening the Northern Ireland ‘Hatchery’, with Alison Rose, CEO of Commercial and Private Banking at RBS, the Minister said: “The fact that Belfast has been chosen as a location for an Entrepreneurial Spark ‘Hatchery’, powered by Ulster Bank, is both a recognition and endorsement of the talent and entrepreneurial flair that exists in Northern Ireland and the potential there is to develop that further.

“Small businesses, and the entrepreneurs behind them, are the lifeblood of our local economy and it’s vital they receive the support needed to enable them to grow, innovate and invest in their business venture.”

Mervyn Storey added: “The Executive is committed to working collaboratively with the business community to achieve our economic ambitions of a dynamic and sustainable economy driven by a growing private sector.

“Entrepreneurial Spark’s business accelerator hub is a welcome addition to the business support landscape and will complement programmes already offered through Executive Departments and their agencies.”

The Northern Ireland ‘hatchery’ is one of a group of ‘hatcheries’ across the UK with entrepreneurs from a wide variety of backgrounds, ages and a range of businesses including social enterprises, tech firms, games designers, food and drink firms, manufacturing, tourism and arts and crafts.

Entrepreneurial Spark has already had success in Scotland and England, creating over 1800 jobs in the four years it has been in existence, securing £45 million in investment and enjoying a survival rate of over 80% for the start-up businesses that have availed of its services.

Notes to editors: 

1. In 2014, Entrepreneurial Spark partnered with RBS and agreed to roll out hatcheries across the UK. So far hatcheries have opened in Birmingham, Bristol, Brighton, Leeds and Manchester with Belfast the latest. Hatcheries are also planned for Cardiff, Milton Keynes, Newcastle and London.
2. Media enquiries should be addressed to the Department of Finance and Personnel Communications Office on Tel: 028 9081 6724 or Tel: 028 9081 6895. Out of Office hours please contact the Duty Press Officer via pager number 07699 715 440 and your call will be returned.

Share this page