After it was first reported by Sky News, Buckingham Palace has confirmed that the accountancy firm will not renew its sponsorship with the scheme that was first launched in 2014.
The scheme sees budding entrepreneurs compete in order to pitch business ideas to well-known business figures. The project currently operates in 64 countries working with over a 1,000 entrpreneurs and claims on its website to have created more than 6,300 jobs.
It is believed that the decision was made by KPMG at the end of October, which in part is believed to have been taken due to the controversy surrounding the Duke of York’s relationship with the convicted sex offender Jeffrey Epstein.
A spokesperson for Buckingham Palace told Sky News: “KPMG’s contract with Pitch@Palace ended at the end of October. A full programme of Pitch@Palace events is continuing across the United Kingdom.”
KPMG has yet to comment on the reports.