Pitching your business idea takes extraordinary courage. It means putting yourself out there and believing in your potential – even when others don’t. Recently, as I judged five entrepreneurs pitching their business ideas at our latest NatWest Accelerator Pitch competition final in London, I was struck by their passion and drive. These founders aren’t just building businesses; they are solving critical challenges that will create jobs, boost productivity, and drive growth across the country.
But as any entrepreneur will tell you, turning an idea into a thriving company is hard work. It takes more than ambition – it requires support, access to finance, and the right networks. That’s why NatWest has been running its Accelerator community for ten years: to back entrepreneurs who dare to think big, so tomorrow’s jobs and innovation are created here in the UK.
The results speak for themselves. Businesses that participate in NatWest’s Accelerator grow their turnover by 104% year-on-year, compared to 20% in a control group. Nine out of ten are still trading three years later – more than double the survival rate of their peers.
Take Carnot Engines, a manufacturing start-up from Milton Keynes. With a team of engineers from aerospace, automotive, and Formula 1, Carnot designs high-efficiency engines that cut costs and emissions for heavy-duty power, using fuels like hydrogen and bio-gas. During their time on our Accelerator, they worked with experts at the University of Warwick, secured £11.5m in grants from Innovate UK, raised £4.3m in investment, and attracted Mitsui OSK Lines – one of the world’s largest shipping firms – as a major investor.
It’s vital for the UK’s future competitiveness that high growth businesses like Carnot Engines succeed. As the Chancellor Rachel Reeves said in the budget, half of all new jobs in Britain are created by scale-up businesses. That’s why we’re supporting businesses to start and scale, through commitments like our Accelerator. We’ve grown our Accelerator community by more than 10,000 members this year alone – and we’re setting our sights even higher in 2026 and beyond.
We’re also focused on supporting UK innovators to succeed. Our universities have many of the essential ingredients to help the UK grow its economy – with world-class research, extensive global networks, and deep regional connections. That’s why we’ve partnered with leading UK universities, including Manchester, Brighton, York, and Oxford, through its new regional growth partnership Equinox, to help entrepreneurs commercialise ideas and unlock their potential. These partnerships will identify high-growth businesses in sectors such as technology, life sciences, and the creative industries – the ‘innovation economy’ that will power the UK’s future.
Fulfilling the commitment we made in March 2025, we’ll launch more new university partnerships in 2026 and beyond, and we’re going the extra mile to support scale ups. We have assembled a new Venture Banking team to back high-growth and venture-backed companies operating in the UK’s innovation economy. This joined-up approach nurtures ambition across the innovation life cycle. By connecting businesses with the right funding, we’re accelerating growth and strengthening the UK’s position as a global hub for innovation.
The ultimate goal is to commercialise great ideas here in the UK – not see them exported offshore—so that growth benefits the whole of society. And I see real reason to be hopeful. Across the UK, ambition and innovation are forging a path for growth, with entrepreneurs turning ideas into thriving businesses. As a bank, we’re proud to back those bold ideas—because when entrepreneurs succeed, the UK succeeds.
- Robert Begbie is CEO, NatWest Commercial & Institutional
