Andrew Mountbatten-Windsor is in the process of closing some of his remaining business interests, specifically Pitch@Palace Global Ltd. This initiative was modeled as a start-up competition where entrepreneurs could pitch their ideas to investors, and it was previously considered a potential income source for the former prince after he lost financial support from the King.
A document to dissolve Pitch@Palace was filed with Companies House and signed by the company’s sole director, Arthur Lancaster. An inquiry has been made to both Mr. Mountbatten-Windsor and Mr. Lancaster for their comments regarding the company’s closure. This decision coincides with Mr. Mountbatten-Windsor’s gradual withdrawal from public life, which has coincided with scrutiny related to his connections to Jeffrey Epstein.
Operations for Pitch@Palace were suspended in 2019 after an interview on BBC Newsnight, which led to Mr. Mountbatten-Windsor stepping down from his royal duties and losing his titles. The UK division was dissolved in 2021, but Pitch@Palace Global had remained operational. However, it was embroiled in controversy following allegations involving the founder of its Chinese arm, Yang Tengbo, who faced accusations of espionage, which he refuted.
There was an interest from a Dutch company, Startup Bootcamp, in acquiring Pitch@Palace Global, but this potential deal fell through earlier this year. Recent financial statements indicate that the company has significantly decreased its funds, with just £10,965 reported at the end of March, down from £220,990 the previous year.
Additionally, another company linked to Mr. Mountbatten-Windsor, Innovate Global Ltd, is also undergoing closure. Mr. Lancaster is the sole director of this company as well and signed the dissolution application. A plan to revive some activities of Pitch@Palace under Innovate Global was mentioned in a 2023 witness statement by Mr. Yang. Notably, Mr. Mountbatten-Windsor’s name is absent from Innovate Global Ltd’s documents, which has no employees or significant assets.
On a separate note, it has been announced that Mr. Mountbatten-Windsor’s surname will consistently include a hyphen moving forward, following a 1960 Privy Council directive.
Source: https://www.bbc.com/news/articles/c5y0zl17g29o?at_medium=RSS&at_campaign=rss