The Duke of York is planning to open his twice-yearly start-up event Pitch@Palace to global firms, rather then just those based in the UK. The event, which introduces British technology firms to investors, has helped to raise funds for hundreds of start-ups since 2014.

Prince Andrew will welcome companies from half-a-dozen countries — including Mexico and Malaysia — to St James’s Palace in December, followed by firms from China, Australia and the Middle East next year.

He said: “I’m a great believer in the fact that anyone can start a business, not just someone from a university. It does not bother me where businesses either settle, start or are based.”

The Prince said that his “primary motivation in taking the competition international is to help plug weaknesses in economies crippled by today’s macro uncertainties. Whether that’s us leaving the European Union or domestic regulation or European regulation or American activities, these are all disruptive.”