NatWest Group announced it is working with Google Cloud as part of a collaboration that supports the bank’s focus on helping businesses to grow and adapt to the rapid pace of technological change.
The collaboration will see Google Cloud “support entrepreneurs on NatWest’s Accelerator with access to AI tools, cloud technology, and training – equipping the UK [firms] with the digital skills needed to unlock growth.”
Research by the bank shows “that data-driven businesses make smarter decisions more quickly – and secure advantage as a result.”
In a survey of 1000 businesses operating “across 10 sectors, 92% of future-fit businesses were found to use data analysis to inform most or all of the significant decisions they make.”
Future-fit businesses are also almost twice “as likely to have begun to implement artificial intelligence tools and capabilities compared to the average business surveyed.”
To support UK businesses to embrace opportunities for growth, Google Cloud will provide NatWest’s Accelerator community “with training on AI implementation and digital marketing, delivered through events at NatWest’s nationwide network of Accelerator hubs and the NatWest Accelerator app.”
Eligible startups on NatWest’s Accelerator will “receive Google Cloud credits to build, test, and scale their operations on Google’s infrastructure – reducing the cost and technical barriers for businesses leveraging AI to scale their ventures.”
Google will also partner with the bank “on the NatWest Accelerator Pitch competition.”
NatWest is funding a new “£1 million competition helping to identify the next generation of UK innovators.”
Recently, five entrepreneurs will “take to the stage in Manchester to deliver their best 15 minute pitch on their businesses’ journey and growth plans – with the winner set to receive £70,000 for their business.”
Entrepreneurs will be judged “on their business models, growth strategies, and the impact that the prize money will have on their future.”
Darren Pirie, Head of the NatWest Group Accelerator, said:
“The support we provide to small businesses on the NatWest Accelerator unlocks growth right across the UK – helping businesses to boost their turnover, secure investment and scale. … By embedding access to Google’s expertise across our Accelerator, we are providing the support needed to help entrepreneurs understand AI and the benefits it could have for their business.”
Darren Mowry. Vice President, Global Startups at Google Cloud said:
“Google Cloud is committed to helping UK businesses thrive by providing them with the digital skills and technology they need. By working with the NatWest Accelerator, we can support a community of entrepreneurs, providing them with access to training, resources, and Google Cloud tools to help them scale their ventures.”