Prince Andrew has suffered a setback after a multi-million pound business deal to take over the Duke of York’s former start-up business network now appears to be in doubt.
Dutch company Startupbootcamp (SBC) had been in talks about buying the Duke of York’s Pitch@Palace network, which could have provided the prince with a multi-million pound financial lifeline.
Sources close to SBC told the BBC that nothing has been signed, and no transactions have taken place.
Pitch@Palace was a Dragon’s Den-style pitching competition for new business ideas, established by Prince Andrew in 2014.
Prince Andrew has suffered a setback after a multi-million pound business deal to take over the Duke of York’s former start-up business network now appears to be in doubt
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Andrew ran the start-up until stepping down from royal duties in 2019 following public backlash from his infamous Newsnight interview.
In February, SBC announced plans to take over the former Pitch@Palace global network.
SBC was attracted by its legacy of 80,000 applications from 3,000 companies across more than 60 countries.
Prince Andrew’s finances have been under intense scrutiny recently as questions remain about how he can afford to live in his Royal Lodge mansion after being cut off financially by King Charles.
Dutch company Startupbootcamp (SBC) had been in talks about buying the Duke of York’s Pitch@Palace network
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The duke is said to have found a legitimate source of funding although the source remains undisclosed to the public.
The prince needs several million pounds annually to cover security costs and is also required pay for the upkeep of the 19th Century, 30-room house in Windsor, following a lease agreement.
The takeover had seemed imminent with SBC calling it a “fantastic opportunity”.
Jointly branded events had already been held and a meeting has taken place at Buckingham Palace with SBC issuing a positive press release about seeing “immense value in the network”.
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Pitch@Palace was a Dragon’s Den-style pitching competition for new business ideas, established by Prince Andrew in 2014
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However, sources close to SBC now say nothing was concluded, and no deal with Prince Andrew was ever signed or closed.
The plans initially involved SBC and its “strategic partner”, Waterberg Stirling, an investment company in Bahrain.
Sources close to SBC say it now wants to “sever ties” with the investment firm.
Waterberg Stirling was registered in Bahrain in late 2024 by Dominic Hampshire, an adviser to Prince Andrew who has long-standing business connections with the nation.
GB News has contacted the Duke of York and Startupbootcamp for comment.