By rikififi90 
Prince Andrew, Duke of York, has encountered a significant setback as negotiations to sell his former startup network, Pitch@Palace, to the Dutch company Startupbootcamp (SBC) have collapsed. The deal, which could have netted him millions of pounds and eased mounting financial pressures, was touted as nearly finalized earlier in 2025, but sources close to SBC now confirm no agreement was signed and no funds exchanged hands. This development hits at a critical juncture for Andrew, who lost financial backing from King Charles and must cover the steep costs of maintaining and securing Royal Lodge, his 30-room Windsor mansion, amounting to several million pounds annually.
Launched by Andrew in 2014, Pitch@Palace was a “Dragon’s Den”-style competition connecting entrepreneurs with investors, boasting a global network of 80,000 applications from 3,000 companies across over 60 countries. SBC, a Netherlands-based accelerator operating since 2010, saw the acquisition as a chance to harness this extensive contact base to bolster its portfolio of 1,700 early-stage companies in 27 countries. Despite joint events and a meeting at Buckingham Palace, the talks unraveled, leaving Andrew without a vital income stream as public scrutiny of his finances intensifies since stepping back from royal duties in 2019.
Speculation had swirled about potential backing from Bahrain, a nation with longstanding ties to Andrew and the British royal family, adding intrigue to the deal. The collapse now exposes the duke’s struggle to secure sustainable funding, casting uncertainty over his ability to sustain his lavish Windsor residence. This article delves into the failed transaction, its background, and the broader implications for Andrew’s precarious financial situation.
Roots of Pitch@Palace and SBC’s interest
Pitch@Palace emerged in 2014 as Andrew’s brainchild to foster entrepreneurship, modeled after televised pitch contests like “Dragon’s Den.” Over five years, it thrived, amassing a global network that became its core asset until Andrew’s withdrawal from royal duties in 2019, prompted by his ties to Jeffrey Epstein, left it dormant. Despite its inactivity, the platform retained significant value due to its reach—80,000 applications from 3,000 firms spanning over 60 nations—making it an attractive target for potential buyers.
Enter Startupbootcamp, which in February 2025 announced plans to acquire the Pitch@Palace network. With a 15-year track record mentoring tech startups and investments in 1,700 ventures worldwide, the Dutch firm aimed to revive what it called a “dormant yet great” entrepreneurial ecosystem. Early collaboration included co-branded events, and a high-profile meeting at Buckingham Palace signaled progress, raising hopes of a finalized deal that would integrate Pitch@Palace’s contacts into SBC’s global operations.
SBC’s interest was strategic: tapping into a ready-made network to accelerate its growth in the competitive startup landscape. However, sources close to the company now describe the talks as having hit an insurmountable roadblock. No contracts were executed, and the anticipated infusion of millions into Andrew’s coffers evaporated, underscoring the fragility of his financial recovery efforts.
Bahrain’s role in the talks
Bahrain emerged as a key player in the proposed sale, leveraging Andrew’s deep connections with the Gulf state. The deal was initially framed as a collaboration between SBC and Waterberg Stirling, a Bahrain-based investment firm registered in late 2024 by Dominic Hampshire, a trusted advisor to the duke. Andrew’s ties to Bahrain, including a personal rapport with King Hamad—who met King Charles in Windsor in November 2024—positioned the nation as a potential financial backer for the transaction.
Waterberg Stirling aimed to funnel Middle Eastern capital into the acquisition, with ambitions to link Gulf investors to global projects, including in China. In July 2024, Adnan Sawadi, associated with the firm, pitched the partnership at a Beijing event, envisioning a rebranded Pitch@Palace, dubbed Innovate Global, as a conduit for international funding. Sawadi praised Yang Tengbo, later accused of being a Chinese spy targeting Andrew—an allegation Yang denies—adding a layer of complexity to the narrative.
The partnership soured when SBC decided to “sever ties” with Waterberg Stirling, according to insiders. This fallout derailed the deal, leaving no signed agreement or financial transactions across Europe, the Middle East, or China. The collapse highlights the challenges of aligning Andrew’s interests with international stakeholders, stranding a potentially lucrative lifeline.
Andrew’s financial woes in Windsor
The failed sale deepens Andrew’s financial predicament, centered on sustaining Royal Lodge, his 19th-century Windsor home. The mansion’s upkeep and private security—estimated at £3 million annually—became his burden after King Charles withdrew funding in 2024. Lacking a steady income since stepping back from royal duties in 2019, Andrew relies on alternative revenue streams to maintain the 30-room estate, leased since 2003 under a 75-year agreement.
Public and media scrutiny of his finances has intensified, with questions swirling about how he affords such extravagance without royal support. The Pitch@Palace sale promised a windfall—potentially millions of pounds—to offset these costs, offering a rare chance for financial independence. Its collapse forces Andrew to reconsider his options amid a backdrop of reputational damage and dwindling resources, spotlighting his struggle to remain at Royal Lodge.
In 2023, Andrew faced criticism for leaning on wealthy acquaintances to cover expenses, a stopgap that proved insufficient. The Pitch@Palace deal represented a more legitimate path forward, but its failure leaves him vulnerable, potentially pushing him toward private loans or asset sales to bridge the gap, all while navigating relentless public attention.
Timeline of Pitch@Palace and the deal
The rise and fall of Pitch@Palace, alongside the botched sale, unfold across key milestones:
- 2014: Andrew launches Pitch@Palace to support startups.
- 2019: He abandons the initiative amid his royal exit.
- February 2025: SBC announces plans to acquire the network.
- July 2024: Adnan Sawadi pitches the deal in Beijing.
- March 2025: Talks collapse, with no deal finalized.
This sequence traces the arc of a once-promising venture now stalled, mirroring Andrew’s broader financial decline and the evaporation of a critical opportunity.
Inside the collapsed negotiations
Talks between SBC and Andrew appeared on track, with SBC touting the “immense value” of Pitch@Palace’s network in early 2025. Joint events and a Buckingham Palace meeting fueled optimism, suggesting a deal was close. SBC envisioned leveraging the platform’s 80,000 contacts to enhance its global footprint, while Andrew eyed a multi-million-pound payout to stabilize his finances.
Yet, sources close to SBC reveal the negotiations never progressed beyond intent. No contracts were signed, and anticipated funding—potentially from Bahrain—failed to materialize. The breakdown was compounded by SBC’s decision to distance itself from Waterberg Stirling, led by Dominic Hampshire. Andrew was contacted for comment but has not responded, leaving the collapse shrouded in ambiguity.
The China angle added intrigue. Sawadi’s praise for Yang Tengbo in Beijing, followed by espionage allegations against Yang, may have heightened caution, though no direct link to the deal’s failure is confirmed. The result is a missed opportunity that promised financial relief but delivered only disappointment.
Pitch@Palace and Andrew trivia
Pitch@Palace and Andrew’s saga offer intriguing insights:
- The initiative attracted 80,000 applications from 3,000 firms over five years.
- Andrew hosted events in 60 countries, from China to Bahrain.
- Royal Lodge’s annual costs hover around £3 million, including £2 million for security.
These figures underscore the platform’s former reach and the steep challenges Andrew now faces, amplifying the stakes of the failed sale.
Mounting pressure on the duke
Without the Pitch@Palace proceeds, Andrew’s financial future grows uncertain. Royal Lodge, a symbol of his status since 2003, demands resources he struggles to muster independently. Security alone costs £2 million yearly since he lost taxpayer-funded protection in 2019, with maintenance adding further strain. The loss of Charles’s support in 2024 left him exposed, reliant on dwindling options.
Media scrutiny compounds his woes. British outlets track his every move, and the deal’s collapse fuels speculation about his solvency. Past reliance on loans from affluent friends in 2024 drew backlash, and the Pitch@Palace sale could have offered a cleaner solution. Now, Andrew may face tougher choices—borrowing more or liquidating assets—under a relentless public gaze.
His reputation, battered by past scandals, complicates efforts to secure funding. The Pitch@Palace fiasco not only dashes a financial lifeline but also keeps his struggles in the headlines, challenging his ability to hold onto Royal Lodge and maintain his lifestyle in Windsor.
Bahrain ties and global fallout
Andrew’s decades-long ties to Bahrain were central to the deal’s early promise. His bond with King Hamad, highlighted by a November 2024 Windsor visit, positioned the Gulf state as a potential savior. Waterberg Stirling, founded by Dominic Hampshire, aimed to channel Bahraini funds into Pitch@Palace, but SBC’s rift with the firm sank the plan, leaving no deal in place.
The China connection added ambition—and risk. Sawadi’s vision of Innovate Global as a Middle East-Asia bridge, pitched in Beijing in 2024, leaned on Yang Tengbo, whose later spy allegations may have spooked stakeholders, though evidence is lacking. Bahrain remains a royal ally, but its role in Andrew’s finances has fizzled, stranding a global endeavor.
Pitch@Palace’s network, once spanning 60 countries, lies idle, a casualty of Andrew’s faltering fortunes. The collapse reverberates beyond Windsor, dimming a once-bright entrepreneurial legacy now mired in financial and diplomatic limbo.
Prince Andrew, Duke of York, has encountered a significant setback as negotiations to sell his former startup network, Pitch@Palace, to the Dutch company Startupbootcamp (SBC) have collapsed. The deal, which could have netted him millions of pounds and eased mounting financial pressures, was touted as nearly finalized earlier in 2025, but sources close to SBC now confirm no agreement was signed and no funds exchanged hands. This development hits at a critical juncture for Andrew, who lost financial backing from King Charles and must cover the steep costs of maintaining and securing Royal Lodge, his 30-room Windsor mansion, amounting to several million pounds annually.
Launched by Andrew in 2014, Pitch@Palace was a “Dragon’s Den”-style competition connecting entrepreneurs with investors, boasting a global network of 80,000 applications from 3,000 companies across over 60 countries. SBC, a Netherlands-based accelerator operating since 2010, saw the acquisition as a chance to harness this extensive contact base to bolster its portfolio of 1,700 early-stage companies in 27 countries. Despite joint events and a meeting at Buckingham Palace, the talks unraveled, leaving Andrew without a vital income stream as public scrutiny of his finances intensifies since stepping back from royal duties in 2019.
Speculation had swirled about potential backing from Bahrain, a nation with longstanding ties to Andrew and the British royal family, adding intrigue to the deal. The collapse now exposes the duke’s struggle to secure sustainable funding, casting uncertainty over his ability to sustain his lavish Windsor residence. This article delves into the failed transaction, its background, and the broader implications for Andrew’s precarious financial situation.
Roots of Pitch@Palace and SBC’s interest
Pitch@Palace emerged in 2014 as Andrew’s brainchild to foster entrepreneurship, modeled after televised pitch contests like “Dragon’s Den.” Over five years, it thrived, amassing a global network that became its core asset until Andrew’s withdrawal from royal duties in 2019, prompted by his ties to Jeffrey Epstein, left it dormant. Despite its inactivity, the platform retained significant value due to its reach—80,000 applications from 3,000 firms spanning over 60 nations—making it an attractive target for potential buyers.
Enter Startupbootcamp, which in February 2025 announced plans to acquire the Pitch@Palace network. With a 15-year track record mentoring tech startups and investments in 1,700 ventures worldwide, the Dutch firm aimed to revive what it called a “dormant yet great” entrepreneurial ecosystem. Early collaboration included co-branded events, and a high-profile meeting at Buckingham Palace signaled progress, raising hopes of a finalized deal that would integrate Pitch@Palace’s contacts into SBC’s global operations.
SBC’s interest was strategic: tapping into a ready-made network to accelerate its growth in the competitive startup landscape. However, sources close to the company now describe the talks as having hit an insurmountable roadblock. No contracts were executed, and the anticipated infusion of millions into Andrew’s coffers evaporated, underscoring the fragility of his financial recovery efforts.
Bahrain’s role in the talks
Bahrain emerged as a key player in the proposed sale, leveraging Andrew’s deep connections with the Gulf state. The deal was initially framed as a collaboration between SBC and Waterberg Stirling, a Bahrain-based investment firm registered in late 2024 by Dominic Hampshire, a trusted advisor to the duke. Andrew’s ties to Bahrain, including a personal rapport with King Hamad—who met King Charles in Windsor in November 2024—positioned the nation as a potential financial backer for the transaction.
Waterberg Stirling aimed to funnel Middle Eastern capital into the acquisition, with ambitions to link Gulf investors to global projects, including in China. In July 2024, Adnan Sawadi, associated with the firm, pitched the partnership at a Beijing event, envisioning a rebranded Pitch@Palace, dubbed Innovate Global, as a conduit for international funding. Sawadi praised Yang Tengbo, later accused of being a Chinese spy targeting Andrew—an allegation Yang denies—adding a layer of complexity to the narrative.
The partnership soured when SBC decided to “sever ties” with Waterberg Stirling, according to insiders. This fallout derailed the deal, leaving no signed agreement or financial transactions across Europe, the Middle East, or China. The collapse highlights the challenges of aligning Andrew’s interests with international stakeholders, stranding a potentially lucrative lifeline.
Andrew’s financial woes in Windsor
The failed sale deepens Andrew’s financial predicament, centered on sustaining Royal Lodge, his 19th-century Windsor home. The mansion’s upkeep and private security—estimated at £3 million annually—became his burden after King Charles withdrew funding in 2024. Lacking a steady income since stepping back from royal duties in 2019, Andrew relies on alternative revenue streams to maintain the 30-room estate, leased since 2003 under a 75-year agreement.
Public and media scrutiny of his finances has intensified, with questions swirling about how he affords such extravagance without royal support. The Pitch@Palace sale promised a windfall—potentially millions of pounds—to offset these costs, offering a rare chance for financial independence. Its collapse forces Andrew to reconsider his options amid a backdrop of reputational damage and dwindling resources, spotlighting his struggle to remain at Royal Lodge.
In 2023, Andrew faced criticism for leaning on wealthy acquaintances to cover expenses, a stopgap that proved insufficient. The Pitch@Palace deal represented a more legitimate path forward, but its failure leaves him vulnerable, potentially pushing him toward private loans or asset sales to bridge the gap, all while navigating relentless public attention.
Timeline of Pitch@Palace and the deal
The rise and fall of Pitch@Palace, alongside the botched sale, unfold across key milestones:
- 2014: Andrew launches Pitch@Palace to support startups.
- 2019: He abandons the initiative amid his royal exit.
- February 2025: SBC announces plans to acquire the network.
- July 2024: Adnan Sawadi pitches the deal in Beijing.
- March 2025: Talks collapse, with no deal finalized.
This sequence traces the arc of a once-promising venture now stalled, mirroring Andrew’s broader financial decline and the evaporation of a critical opportunity.
Inside the collapsed negotiations
Talks between SBC and Andrew appeared on track, with SBC touting the “immense value” of Pitch@Palace’s network in early 2025. Joint events and a Buckingham Palace meeting fueled optimism, suggesting a deal was close. SBC envisioned leveraging the platform’s 80,000 contacts to enhance its global footprint, while Andrew eyed a multi-million-pound payout to stabilize his finances.
Yet, sources close to SBC reveal the negotiations never progressed beyond intent. No contracts were signed, and anticipated funding—potentially from Bahrain—failed to materialize. The breakdown was compounded by SBC’s decision to distance itself from Waterberg Stirling, led by Dominic Hampshire. Andrew was contacted for comment but has not responded, leaving the collapse shrouded in ambiguity.
The China angle added intrigue. Sawadi’s praise for Yang Tengbo in Beijing, followed by espionage allegations against Yang, may have heightened caution, though no direct link to the deal’s failure is confirmed. The result is a missed opportunity that promised financial relief but delivered only disappointment.
Pitch@Palace and Andrew trivia
Pitch@Palace and Andrew’s saga offer intriguing insights:
- The initiative attracted 80,000 applications from 3,000 firms over five years.
- Andrew hosted events in 60 countries, from China to Bahrain.
- Royal Lodge’s annual costs hover around £3 million, including £2 million for security.
These figures underscore the platform’s former reach and the steep challenges Andrew now faces, amplifying the stakes of the failed sale.
Mounting pressure on the duke
Without the Pitch@Palace proceeds, Andrew’s financial future grows uncertain. Royal Lodge, a symbol of his status since 2003, demands resources he struggles to muster independently. Security alone costs £2 million yearly since he lost taxpayer-funded protection in 2019, with maintenance adding further strain. The loss of Charles’s support in 2024 left him exposed, reliant on dwindling options.
Media scrutiny compounds his woes. British outlets track his every move, and the deal’s collapse fuels speculation about his solvency. Past reliance on loans from affluent friends in 2024 drew backlash, and the Pitch@Palace sale could have offered a cleaner solution. Now, Andrew may face tougher choices—borrowing more or liquidating assets—under a relentless public gaze.
His reputation, battered by past scandals, complicates efforts to secure funding. The Pitch@Palace fiasco not only dashes a financial lifeline but also keeps his struggles in the headlines, challenging his ability to hold onto Royal Lodge and maintain his lifestyle in Windsor.
Bahrain ties and global fallout
Andrew’s decades-long ties to Bahrain were central to the deal’s early promise. His bond with King Hamad, highlighted by a November 2024 Windsor visit, positioned the Gulf state as a potential savior. Waterberg Stirling, founded by Dominic Hampshire, aimed to channel Bahraini funds into Pitch@Palace, but SBC’s rift with the firm sank the plan, leaving no deal in place.
The China connection added ambition—and risk. Sawadi’s vision of Innovate Global as a Middle East-Asia bridge, pitched in Beijing in 2024, leaned on Yang Tengbo, whose later spy allegations may have spooked stakeholders, though evidence is lacking. Bahrain remains a royal ally, but its role in Andrew’s finances has fizzled, stranding a global endeavor.
Pitch@Palace’s network, once spanning 60 countries, lies idle, a casualty of Andrew’s faltering fortunes. The collapse reverberates beyond Windsor, dimming a once-bright entrepreneurial legacy now mired in financial and diplomatic limbo.
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