Deloitte announces £25m fund for employees’ start-up

Deloitte announces £25m fund for employees’ start-up

Deloitte employees could receive support for new business ideas under new scheme

AROUND £25m is to be set aside by Deloitte to invest in its employees’ start-up businesses.

If their ideas are selected, employees will receive funding and allowed to work full-time on the development of their business, with ‘incubator’ support from the firm.
The bulk of the businesses will be housed in a newly-formed business unit, Innovation Investments, with a “reward model to ensure mutual benefit for the entrepreneur and the firm”.

The move is designed to help Deloitte keep hold of its young talent, who have increasingly been seeking to leave in order to start their own companies.

David Sproul, chief executive of Deloitte, said: “This is a first for our firm and a first for our industry. We know that an increasing number of people are attracted to the idea of setting up their own business and trying something different. We believe this initiative offers a unique opportunity to pursue those entrepreneurial ambitions whilst remaining an employee of Deloitte and benefiting from the strength of our brand, experience and expertise.”

The firm’s managing partner for innovation Simon Owen added: “We have some of the most entrepreneurial minds in the country right here in our organisation and we want to give them the opportunity to develop in unique ways. Combining Innovation Investments with our existing external investment programmes should create something really powerful for our people, our clients and the wider market.”

Related Articles

PwC to net £50m from Carillion insolvency

Accounting Firms PwC to net £50m from Carillion insolvency

4m Alia Shoaib, Reporter
What does the future hold for listed accountancy firms?

Accounting Firms What does the future hold for listed accountancy firms?

7m Fergus Payne, Lewis Silkin
David Sproul, Senior Partner and Chief Executive, Deloitte

Accounting Firms David Sproul, Senior Partner and Chief Executive, Deloitte

9m Lucy Skoulding, Reporter
Financial Power List 2018: 1-5 revealed

Accounting Firms Financial Power List 2018: 1-5 revealed

9m Lucy Skoulding, Reporter
LLPs in Top 50+50: Will LLPs continue to be the preferred set-up?

Accounting Firms LLPs in Top 50+50: Will LLPs continue to be the preferred set-up?

10m Fergus Payne, Lewis Silkin
Top 50+50: Firms fall short on diversity

Accounting Firms Top 50+50: Firms fall short on diversity

1y Alia Shoaib, Reporter
Deloitte global revenues hit record $38.8bn

Accounting Firms Deloitte global revenues hit record $38.8bn

1y Emma Smith, Managing Editor
PwC to take over from Deloitte as Diploma auditor

Accounting Firms PwC to take over from Deloitte as Diploma auditor

1y Alia Shoaib, Reporter