Prince Andrew's plans to sell his Pitch@Palace network to the Dutch company Startupbootcamp (SBC) have hit a snag, leaving the future of both the Duke of York's venture and his financial prospects uncertain. The proposed acquisition, which could have offered Prince Andrew a much-needed multi-million-pound financial lifeline, remains in doubt as discussions between the parties falter.
SBC, an organization founded in 2010 that specializes in mentoring and supporting start-ups, expressed interest in Pitch@Palace due to its impressive legacy. The network has garnered over 80,000 applications from 3,000 entrepreneurial companies spanning more than 60 countries since its inception in 2014. This wide-ranging network made Pitch@Palace an attractive target for SBC, which aims to capitalize on the dormant potential of such a valuable resource.
The initial plans for the acquisition included collaboration with Waterberg Stirling, an investment company based in Bahrain. This partnership was expected to enhance the transition process, with Dominic Hampshire, an adviser to Prince Andrew, having registered Waterberg Stirling in Bahrain in late 2024. A meeting at Buckingham Palace was held to discuss the potential partnership, signaling the seriousness of these negotiations.
SBC had previously described the partnership with Waterberg Stirling as a "fantastic opportunity," aiming to leverage the "great, but dormant" network of entrepreneurs associated with Pitch@Palace. However, as discussions progressed, it became clear that no formal agreement had been signed or closed, leaving the deal in limbo.
Despite Prince Andrew stepping back from royal duties in 2019 amidst public scrutiny, he has maintained business connections with Bahrain. These ties could have played a significant role in attracting SBC's interest in Pitch@Palace. However, without a signed deal, the venture remains uncertain.
SBC has established itself as a prominent player in the start-up ecosystem, having invested in 1,700 early-stage companies and operating schemes across 27 countries. The organization focuses primarily on technology sector businesses, aiming to foster innovation and growth. Therefore, the failure to finalize the acquisition of Pitch@Palace could represent a missed opportunity for both SBC and Prince Andrew.
As this situation unfolds, it raises questions about the future of the Pitch@Palace network and Prince Andrew's ability to revitalize his business endeavors. Without a clear resolution, the viability of this once-promising venture remains tenuous.