RBS offering £30,000 prize pot for budding Scots entrepreneurs: NatWest names new ‘mid-market champions’

Entrants will be able to compete for the prize pot which will be awarded at a live final on April 24. The final will take place at the formal opening of the bank’s new Accelerator hub building in Edinburgh.

One of the award winners will also receive an out-of-home advertising campaign delivered by JCDecaux UK.

The pitch competitions are designed to help business founders build the confidence they need to secure investment, while also recognising the innovative ideas that will deliver future growth.

To enter, entrepreneurs based in Scotland are required to submit a 60-second pitch video on their product and business by 5pm on March 26. Six businesses will then move forward to the final to make their pitch in front of a live audience.

The announcement follows successful Accelerator Pitch live events delivered in Manchester and London, with another due to be held in Northern Ireland.

Heidi Simpson, regional accelerator director, Royal Bank of Scotland (RBS), said: “This Royal Bank Pitch competition is all about recognising the entrepreneurial spirit and innovation that is at the heart of so many founder’s stories. We are looking for the exciting ideas that will transform and grow Scotland’s economy and build the employers of the future.

“I can think of no better way to launch our new Edinburgh Accelerator Hub building than hosting the Pitch final. The competition has gone live and I wish all entrants the best of luck.”

Thanh Catachanas, head of collaboration and acquisition, JCDecaux UK, said: “Following the success of our collaboration with the NatWest Accelerator Pitch in London last November and our ongoing partnership with Royal Bank of Scotland, it’s fantastic to be involved again by offering an out-of-home advertising campaign to the winner of the Edinburgh pitch final.

“Edinburgh has a thriving start-up and scale-up community, and it’s exciting to support founders who are building the next generation of ambitious businesses.

“With our strong presence across the city and partnerships with Edinburgh City Council, Network Rail and Edinburgh Airport, we’re proud to help connect innovative businesses with the people and places that help them grow.”

Last week, RBS outlined a substantial increase in its Accelerator Programme to help 5,000 entrepreneurs, ahead of the opening of its new Edinburgh hub building on Princes Street this year.

The 2026 ambition represents a ten-fold increase over last year. It is more than all the businesses supported in the previous ten years that the Royal Bank Accelerator Programme has been delivered.

The Accelerator provides entrepreneurs with business coaching, support networks and access to expertise at no cost.

Accelerator alumni have included Edinburgh-based pizza oven maker Ooni and Glasgow-based healthcare staffing platform provider Staffscanner. Taken together RBS says Scottish Accelerator community businesses have created in excess of 900 jobs.

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Meanwhile, RBS parent NatWest Group has appointed a dozen “mid-market champions” to help drive the vital business segment’s £35 billion growth opportunity across the UK economy.

The announcement was made at the first Mid-Market Growth Council reception hosted by the Chancellor at 11 Downing Street earlier this week. Kevin Havelock has been appointed as the mid-market champion for Scotland.

Recent NatWest research revealed that nine in ten mid-market businesses say a visible regional leader would support their company growth and help economic growth in their region. In addition, a similar proportion of mid-market companies surveyed said that having a visible regional leader representing mid-market firms would be very or somewhat beneficial in influencing positive policy outcomes with devolved and local government.

Mid-market firms remain deeply rooted in their local communities, with about three quarters (74 per cent) saying their regional economies are fundamental drivers of economic growth.

Paul Thwaite, group chief executive of NatWest, said: “As the number one bank for mid-sized businesses, this initiative will further strengthen our regional footprint, enabling an even deeper understanding of mid-market customers and accelerating their growth.

“The potential of mid-markets should not be underestimated; just 1 per cent growth in this segment could add £35bn to the UK economy, with £24bn of that outside the south east of England.”

Chancellor Rachel Reeves added: “Our economic plan is the right one and central to it are strong regions powered by medium-sized businesses. It's clear those businesses will welcome mid-market champions and their role to support regional growth across the country.”

Mid-market companies are crucial to regional economies, often employing a large proportion of their local community. They contribute most significantly to employment in the West Midlands (24 per cent), north-east England (23 per cent), Yorkshire (22 per cent) and Scotland (27 per cent). In aggregate those businesses employ more than 1.2 million more individuals than large non-financial corporates.

The bank said the champions would be drawing on “deep regional expertise” and would provide a strong voice for mid-market businesses, feeding into the work of the Mid-Market Growth Council - a forum that brings together business leaders, representative bodies and government to provide a platform for this segment and drive action that supports growth.

They will develop insights into local customer needs, shape regional priorities for the council, and strengthen NatWest’s convening power to unlock growth opportunities across the country, the group added.

Businesses set for accelerated development