Sponsors flee Prince Andrew entrepreneurship scheme

Josh Hall's picture

Corporate sponsors are withdrawing support from the Duke of York's charitable entrepreneurship scheme following last weekend's Newsnight programme.

KPMG announced yesterday that it would not be renewing its sponsorship of Prince Andrew's Pitch@Palace scheme, while other supporters including Astrazeneca and insurer Aon have either cut ties or have said that they are reviewing their positions.

Pitch@Palace offers startup owners an opportunity to pitch for finance in front of a live audience, and is part of the Duke's charitable foundation focusing on entrepreneurship.

The Times reports that KPMG alone has spent almost £250,000 on its support of the scheme since 2004. The accounting firm had decided not to renew its contract when it expired in October, citing growing concerns over the Duke's relationship with convicted pedophile Jeffrey Epstein.

Buckingham Palace said yesterday that Pitch@Palace's activities would continue.