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With the support of the IT Industry, The Prince’s Trust has now raised an incredible £2 million to help support young entrepreneurs starting up their own technology-related companies. The funding will provide new opportunities and support for young people across the UK, and comes from some of the UK’s leading technology organisations.

The official announcement will be made at a presentation by Richard Holway, Director of Ovum, to an audience of the leading players within the IT industry at The London Grosvenor Marriott Hotel on 30th November. The presentation, entitled: “Round and Round: A tale of cycles, recycling, spirals, circles, convergence and divergence, ups and downs…” will present Richard’s prediction of IT as the new cyclical sector. The talk, Richard’s sole public presentation of the year, promises to be as controversial as ever.

The Prince’s Trust has raised the £2 million through its Technology Leadership Group (TLG), which was set up specifically to fundraise from the UK’s IT industry for young technology entrepreneurs. The aim is to raise £5 million from the private sector, which will be matched by the Government. The group is working hard to raise the remaining funds but needs help from the private sector to reach this goal. The resulting £10 million will provide enough initial seed capital to launch over 3,000 enterprises and provide ongoing sales and marketing support. The TLG will also help develop the skills of every young entrepreneur and progress their professional lives through mentoring provided by experienced professionals.

Julian Barrell, Head of Private Sector Development at The Prince’s Trust, comments: “£2 million is a significant milestone and indicates that there are many UK & US organisations who are prepared to put money back into the future of UK enterprise. Now we need more companies to join us, and donate money and resources to get even more young entrepreneurs off the ground and running their own businesses. Backing these fledgling businesses is a win-win situation benefiting both the individual and the economy.”

The £2 million has assisted in starting hundreds of new businesses, in areas such as DVD development, Website design, PC maintenance and IT recruitment. Two examples of new businesses that have benefited from the £2 million raised are Highrise Media and Adido Solutions.

Highrise Media has been trading for four years and was set up with the assistance of a Prince’s Trust loan. Highrise Media offers film production/post production services, web development and graphic design. "The Prince's Trust gave us the support we needed to succeed in business," adds Nicholas Beveney, co-founder of Highrise Media. Nicholas and his business partner, Andre Lecointe, will be attending 'Round and 'Round.

Adido Solutions Ltd is a web development company based in Dorset that has technical expertise in website, software and e-commerce design and development. The company was set up by Alex Othold with the assistance of a Prince's Trust loan.

- Ends –
For further information please contact:
Edward Taylor, Financial Dynamics (PR for The Prince’s Trust TLG), 0207 269 7295 or edward.taylor@fd.com
Emma Langbridge, Head of Communications The Prince's Trust, 020 7543 7334 or emma.langbridge@princes-trust.org.uk


Notes to Editors

§ Companies or individuals interested in becoming involved in the Technology Leadership Group should contact Helen Parker at The Prince’s Trust on 020 7543 1219 or visit www.princes-trust.org.uk

· Highrise media has three trading arms/brands that operate in the creative media industries. Kopy Kings offers CD/DVD duplication services, design and print as well as audio production services. It is venturing into the area of online music distribution under the newly created brand of Supabeats.com as a means of offering distribution and sales facilities to Kopy Kings’ customers. Pathfinders is a not-for-profit arm of the group and provides training in media and graphics based areas. For more information on Highrise Media or its subsidiaries visit, www.highrisemedia.com, www.kopykings.com, www.pftraining.com, www.supabeats.com

· Adido Solutions builds systems to allow their customers to use the Internet the way it should be; to build relationships, enhance communication, improve brand awareness and above all increase profit. For more information on Adido Solutions Ltd, visit www.adido-solutions.com

§ The Prince’s Trust exists to help young people to overcome their barriers and get their lives working. Through practical support including training, mentoring and financial assistance, it helps 14-30 year-olds to realise their potential and transform their lives. The Trust focuses its efforts on young people who have struggled at school, have been in care, are long-term unemployed or have been in trouble with the law. Since the charity was founded by HRH The Prince of Wales in 1976, it has helped over half a million young people. Further information about The Prince's Trust is available on 0800 842 842 or at www.princes-trust.org.uk

· The Prince’s Trust Business Programme provides low cost start up finance and business mentor support to 18-30 year olds, providing participants with an opportunity to achieve economic independence through self-employment. In 2003/4 The Trust helped 12,793 entrepreneurs - helping 3,712 to start their own business and providing ongoing support to 9,081 young people.

· Companies and individuals who have already supported The Prince’s Trust Technology Leadership Group include: Accenture, Adventis, ARM, Atos Origin, BEA Systems Ltd, BMC Software, Boxnewmedia, Cap Gemini, Channel Dynamics, Cisco Systems Ltd, Citigroup, Colt Telecom, Compuware, Computerwire, Deloitte, Department of Health, Detica plc, Exony, Financial Dynamics, Gartner, GlaxoSmithKline, Holly Tree Associates, HP, IBM UK Ltd, Icera Semiconductor, Intel, InterViVo, Kennet Venture Partners Ltd, KPMG, Legal and General, Lehman Brothers, Lloyds TSB, Microcompass, Microsoft, Norman Broadbent, Office of the e-Envoy, Olswang, Ovum Holway, QAS Ltd, Rolls-Royce plc, Royal Bank of Scotland Group plc, Russell Reynolds Associates, SAP, SAS, SeeBeyond, Silicon.com, Sirius Financial Solutions Plc, Spring Group plc, Stepstone ASA, Strathdon Investments, Tata Consultancy Services, Tibco Software Inc, Tidalwave Technology, UPCO, VERITAS, VNU Business Publishing, WebMethods, ZDNet UK, Richard A
llan MP, René Carayol, David Ashworth, Sherry Coutu

This press release was distributed by ResponseSource Press Release Wire on behalf of FTI Consulting in the following categories: Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.