The unprecedented success of military entrepreneurship has been celebrated by the government, big business and charities, on the third anniversary of the business support service X-Forces…
Attendees of an event on board HMS President in London heard that the 700 businesses supported by X-Forces are a third more successful than their civilian counterparts; their success rate on government Start Up Loans is within the top 10 nationally at over 90% being paid to date.
Acknowledged by the Ministry of Defence as having made a ‘very significant difference’ for the UK’s service leavers, X-Forces gathered with partners from big business, government departments and military charities to congratulate these entrepreneurs, who are now scaling-up and providing employment.
X-Forces’ CEO and founder, Ren Kapur MBE, urged the collaboration to consider how they can further nurture innovation and enterprise from the Armed Forces based on this successful model.
X-Forces was founded in July 2013 to foster the military focus and tenacity in the UK’s Armed Forces community with a free-to-access package of support comprising business planning, funding and mentoring. Three years on, X-Forces has helped more than 700 new businesses to launch, and facilitated 7.3 million pounds in government Start Up Loans.
X-Forces works closely with military charities including Help for Heroes and Blind Veterans UK to develop bespoke programmes for Wounded Injured and Sick (WIS) veterans and service leavers. This experiential training explores enterprise as a flexible career that can be adapted to an individual’s personal thresholds, whilst regaining confidence, purpose and an outlet for their work ethic and creativity.
The X-Forces service – with Lord Young, the former Prime Minister’s Advisor on Enterprise, as its patron – was endorsed in speeches by Lt Gen Richard Nugee, Chief of Defence People and Marcelino Castrillo, RBS Managing Director of Business Banking. Four of X-Forces’ business owners also addressed the reception, sharing their experiences entering into entrepreneurship.
Lt Gen Richard Nugee, Chief of Defence People, said: "I salute X-Forces for the significant difference they have made for Service Leavers. They provide a service that ensures the very best in terms of development and ingenuity is brought to the fore from the best in society – service leavers!”