Graeme Donnelly, founder and CEO of 1st Formations
Feb 6: LEADING company formation agent 1st Formations has announced its official partnership with LSE Generate, the London School of Economics’ flagship global entrepreneurship centre, to empower the next generation of socially responsible entrepreneurs.
The partnership will focus on championing underrepresented student and alumni founders through targeted programmes, expert mentorship and tailored resources, helping them overcome barriers and scale impactful ventures.
1st Formations provides guidance and business services to thousands of UK entrepreneurs each year, helping founders launch, grow and manage their companies successfully.
Graeme Donnelly, founder and CEO of 1st Formations, said: “Supporting entrepreneurs has always been at the heart of what we do. Partnering with LSE Generate allows us to champion underrepresented voices and simplify the startup process so diverse founders can bring their ideas to life.
“This isn’t just about resources or funding; it’s about building an inclusive ecosystem where entrepreneurship is accessible to everyone.”
Founded in 2018, LSE Generate supports students and alumni through incubators, accelerators, funding initiatives and global networks. Its startups have raised £5.7 million in venture capital and received 543 hours of coaching and business support to date.
Under the partnership, 1st Formations will sponsor LSE Generate’s Race Equity and Neurodiverse Founders clusters, initiatives designed to address persistent inequalities in access to entrepreneurship.
Black and ethnic minority founders contribute over £25 billion to the UK economy yet receive just 1.7% of venture capital funding. Only 43% of ethnic minority businesses survive beyond 42 months, highlighting the barriers these entrepreneurs face.
Meanwhile, an estimated 15% of UK adults have some form of neurodiversity, but over 80% of traditional hiring and funding models fail to accommodate neurodivergent entrepreneurs, despite their unique perspectives and innovative thinking.
To help tackle these challenges, 1st Formations’ support will enable LSE Generate to deliver targeted events, innovation showcases and practical workshops, alongside dedicated resources such as a Neurodiverse Startup Toolkit and a Cognitive Diversity Playbook.
The partnership also includes sponsorship of the LSE Startup Competition, providing student and alumni founders with opportunities for direct funding. Past winners, such as Haja Isatu Bah, founder of Uman4Uman, have leveraged these initiatives to grow purpose-driven businesses with cross-continental impact.
Graeme added: “Entrepreneurship thrives on different perspectives, lived experiences and ways of thinking. Talent is everywhere, but access to networks and early support isn’t.
“Through our partnership with LSE Generate, we’re helping close that gap and ensuring the next generation of founders has the confidence and backing to turn great ideas into sustainable, impactful ventures.”