Unveiled in January 2013, Launcher is said to offer new business owners aged 18-30 a package of support that bundles the government’s Startup Loan with free access to an extensive training programme, boot camps as well as the School for Startups’ online community, online library, and 24-hour support.

Young entrepreneurs will now also benefit from the support of mentors who have been selected and trained by Lloyds, and are on hand to offer their guidance to further increase the survival rates of startups that come through the Launcher programme.

School for Startups established the Launcher programme to help entrepreneurs make the most of the funding they receive, supplementing financial support with guidance from experienced mentors, to give all loan recipients the very best chance of success.

Lloyds Banking Group has a strong tradition of providing one-to-one mentoring and support for thousands of UK startups and small businesses, and is teaming up with Launcher to offer guidance on financial matters for entrepreneurs enrolled on the programme.

Doug Richard, Founder, School for Startups said: “Lloyds has been an important partner for UK business since time immemorial and I’m thrilled they are partnering with School for Startups and Launcher, supporting us in our mission to ensure the success of startups across the country.

“Lloyds’ support for entrepreneurs through its mentoring programme – pairing new business owners with senior business professionals from a variety of backgrounds – demonstrates their unswerving commitment to strengthening the British economy.”

Jackie Jenks, Enterprise Mentoring Manager, at Lloyds Banking Group said: “Historically, entrepreneurs starting new businesses may have found it difficult to get the early stage capital they need to open their doors.

“School for Startups is making Startup Loans available to founders, and is packaging that funding with a wide range of business solutions including valuable access to highly skilled and very experienced mentors.

“We’re excited and proud to team up with a social enterprise that has been working tirelessly to help launch new businesses in the UK.”