Entrepreneurs offered £10m

MITIE, the FTSE 250 strategic outsourcing company, is launching a £10m fund to back entrepreneurs. The firm said the “MITIE (Management Incentive Through Investment Equity) Entrepreneurial Programme”, will back management teams with innovative ideas for starting mutually owned businesses in the UK. It is open to people from both the private and public sectors who want to run a business with MITIE’s support. The fund will be particularly targeted at teams that have considerable public sector experience and innovative business ideas to support the government's focus on efficiency and deficit reduction.