Deloitte creates £25 million pot to fund employee ideas
Katie Jacobs, November 17, 2014
Professional services firm Deloitte has announced it will invest £25 million in helping its employees create and run their own start-ups.
Through the ‘Innovation Investments’ scheme, employees will be given funding and can work full time on their business idea, while using the firm’s expertise in areas such as marketing, legal and technology.
The start-ups will be held in a new business unit, Innovation Investments Ltd. Deloitte said the reward model will “ensure mutual benefit” for both entrepreneurs and the firm.
Deloitte chief executive David Sproul said the programme was “a first” for both the company and industry. “We know that an increasing number of people are attracted to the idea of setting up their own business and trying something different,” he said.
“We believe this initiative offers a unique opportunity to pursue those entrepreneurial ambitions while remaining an employee of Deloitte and benefiting from the strength of our brand, experience and expertise.”
Any employee can submit an idea for consideration and viable concepts will enter a funded ‘incubation’ period. During this time, employees will work full time on developing their business.
Deloitte managing partner for innovation Simon Owen said the firm’s aim was to develop “new, standalone businesses that create future solutions for our clients in a world of rapidly changing technologies and shifting consumer demands”.
“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,” he added.