Barclays Eagle Labs’ two-year, government-funded support programme for UK tech companies has now been made public.
In a contentious decision earlier this year, Barclays received the £12 million Digital Growth Grant, forcing Tech Nation, the previous recipient, to close its doors.
David Hamilton, the head of implementation at Barclays Eagle Labs, has acknowledged that not everyone in the industry has welcomed the change and that some view his organisation as the “bogeyman.”
In order to address some of the major problems businesses face and promote regional growth in the UK tech sector, the bank has now revealed its plans for the funds and opened applications for the first of a number of programmes.
Organisations outside of London will be able to apply for funding and implement their own programmes that best address the issues they are facing in their local area through an ecosystems partnership programme.
Business leadership teams will also have access to scaleup-specific learning as a result of a partnership with Cambridge Judge Business School, which will provide them with individualised coaching. In collaboration with Plexal, Eagle Labs will deliver a second six-month scaleup programme that supports businesses with a focus on resolving societal problems.
A funding readiness programme, a healthtech and agritech programme, and a programme for black-founded tech businesses will also be offered. An ongoing initiative that focuses on female-led businesses will also be continued.
According to Paul Scully, minister of technology and the digital economy, “Eagle Labs will provide support and opportunities to help tens of thousands of startups and scaleups unlock their full potential through the government-funded Digital Growth Grant. This is crucial to our efforts to turn the UK into a global leader in technology and science.