Support services group begins property entrepreneur search
Mitie has invested a further £5m in its very own version of the ‘Dragon’s Den’, in a bid to find talented property entrepreneurs.
The support services group launched its Enterpreneurial Fund in 2011 and has already invested £5m in the scheme.
Budding entrepreneurs will be invited to pitch for a slice of the new £5m fund in front of a panel of business leaders, led by Mitie chief executive Ruby McGregor-Smith, on 28 May.
Mitie will invest up to 49% in ventures that make successful bids. After a five-to-ten-year growth period, Mitie will acquire the businesses in full.
Mitie said in a statement that it has so far invested in over 100 start-up businesses through the fund and has a 95% success rate.
McGregor-Smith said: “At MITIE, entrepreneurialism has always been at the heart of our organisation.
“Since we started 25 years ago, we’ve been partnering with entrepreneurs to grow businesses and we’re as passionate about this today as we were when we started.
“We are looking for inspirational business people of all ages, to continue this rich heritage going forward.”
Applications to participate in the event are open until the 30 April 2012.
More information can be found at www.mitie.com/entrepreneurs