Sir Richard Branson announced today the launch of Virgin StartUp, a new partner to the existing StartUp Loans Company.
Virgin StartUp will deliver funds and mentoring to entrepreneurs between the ages of 18 and 30. The new company will join more than 50 other delivery partners which help provide loans and support alongside the government-backed Start-Up Loans Company.
The company’s launch follows a year-long pilot by Virgin Money, which has lent more than £600,000 to over 100 new businesses in the North East.
Branson said “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 Loans Company across the UK in years to come.”