By Daniel Hunter

The Prime Minister has announced a ￡30m boost to the Government’s Start-Up Loans scheme and confirmed Doug Richard’s School for Startups as one of the key delivery partners in the expanded scheme designed to give the next generation of entrepreneurs the finance and support to start their own businesses.

As part of the expanded scheme, School for Startups will introduce “Launchers”, a brand new training programme that will provide Startup Loans recipients with dedicated training and mentoring in addition to the funding.

“The Start-Up Loans scheme has been a great success with over 3,000 people applying for a loan since the scheme launched," Doug Richard, founder of School for Startups said.

"With the creation of the Launchers programme, School for Startups will provide Start-Up Loans recipients with high value training and mentoring inaddition to free to attend boot-camps, access to our online community of startups and invaluable online support.”

The expanded funding means that over ￡110 million has been made available for startup loans over the next three years, potentially helping to start tens of thousands of new businesses. The scheme’s age limit has also been increased from 24 to 30 thereby extending the number of people that now have access to vital startup funding.

Prime Minister David Cameron said:

“Start-Up loans are an important part of my mission to back aspiration, and all thoseyoung people who want to work hard and get on in life, so this country competes and thrives in the global race

“They are a great way to help this next generation of entrepreneurs get the financial help — and the confidence — to turn that spark of an idea, into a growing, thriving business.

“It is by backing our entrepreneurs and championing small business that we can drive forward and grow the economy, and equip this country for the highly competitive era we are
in.”

James Caan, Chair of the Start-Up Loans Company said:

“Start-Up Loans enable young people to harness their skills, and gives each budding entrepreneur not just a low interest loan, but also the help and support from an experienced mentor to guide them to success. I am proud to chair the Start-Up Loans Company, responsible for delivering this excellent initiative.”

BusinessMinister Michael Fallon said:

“The Government is determined to back young people who aspire to get on in business and create jobs. The Start-Up Loan scheme has been very popular and the extra investment will help to meet the demand for this kind of assistance.

“Making this support available to a wider age group will encourage even more young people to be entrepreneurial. It gives them access to experienced mentors who can offer knowledge and expertise about how to run a successful enterprise. I hope to see a whole new wave of entrepreneurs get their ideas off the ground.”

The School for Startups Launchers programme will provide

· Essential teaching from some of the most successful leaders in their field to help turn a brilliant idea into a success story

· An active community on-hand, online, 24/7providing advise support — or simply an opportunity to share thoughts with other like-minded entrepreneurs

· A personal mentor available for regular 1-to-1 coaching sessions who’s been there and made the mistakes, so you don’t have to

· Incredibly easy funding: low interest government-backed finance will help you get there quicker, with no nasty surprises.

To apply, please visit: http://www.schoolforstartups.co.uk/startuploans/

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