MITIE launches £10m fund for entrepreneurs

February 10, 2011 by
Filed under: News 

Support for innovation can come from unexpected places. Bristol-based outsourcing conglomerate MITIE has launched a £10m fund to help entrepreneurs with good ideas get customers.

Better known for cleaning windows and hospitals and gritting roads, the company has helped create 90 business over the last 23 years with only five failures, says John Telling, group corporate affairs director and nephew of the founder. MITIE  takes a 51% share and the businesses can access the groups 26,00o customers.  The group is particularly targetting information technology and new systems to increase the efficiency of managing the different companies.

“With a rapidly changing landscape in the UK public sector, the fund will be particularly targeted at teams that have considerable public sector experience and innovative business ideas to support the Government’s focus on efficiency and deficit reduction,” said the company, although there are definitely opportunities for private sector entrepreneurs as well, says Telling.

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