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Call for new project ideas as Palace encourages entrepreneurial spirit

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The Duke of York is encouraging people of all ages to come forward with new ideas, as part of a Palace-backed project to help start-up businesses.

Prince Andrew has insisted that age is “no barrier” and has said that anyone who has spotted “a problem that needs to be solved” has the beginnings of a business idea, but many people are put off because they do not know how to take the next step.

The Duke’s Pitch@Palace events, which are now in their third year, allow entrepreneurs to pitch their ideas to investors and innovators and, more importantly, to meet mentors who can provide the benefit of their experience.  He is encouraging individuals to apply for the next event, which takes place in November.  So far, Pitch@Palace events have helped more than 400 start-up businesses, resulting in 447 jobs being created and contributing to the creation of more than £124million worth of turnover.

One of the success stories of Pitch@Palace is Jukedeck, a website that enables users to create their own music using artificial intelligence (without the need for composing skills), which can be used royalty-free on videos or other applications.  Cambridge University graduate, Ed Rex, founded the company last December, after winning a Pitch@Palace event and subsequently raised £2million in investment.  In the first week after its launch, 100,000 pieces of music had been created on Jukedeck, and since then hundreds of thousands more have been added.

The ‘Start-up Britain’ national enterprise campaign is visiting 30 towns and cities over the summer, giving advice to would-be entrepreneurs and encouraging them to apply for Pitch@Palace where appropriate.

Craig Harrison, Partner and head of Longmores’ Company Commercial team, said: “It is fantastic to see an official endorsement for projects aimed at encouraging entrepreneurs and new business start-ups. It can sometimes feel overwhelming to know how to take an initial business idea and bring it to market, so any scheme which helps smooth this path is to be welcomed”.

“Good legal advice in the early days is also critical to success and at Longmores we have helped countless new business start-ups - from sorting out company formation paperwork to providing intellectual property advice, so that their ‘brilliant idea’ is properly protected.”

For more details on Pitch@Palace go to www.pitchatpalance.com.

For further information on all aspects of legal advice for entrepreneurs, new business start-ups and SMEs, please contact Craig Harrison on 01992 300333.

 

Please note the contents of this blog are given for information only and must not be relied upon. Legal advice should always be sought in relation to specific circumstances. 

 

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