Barclays Eagle Labs achieve Digital Progress Grant to assist innovation

Constructing on the £42.2m invested by the UK authorities to assist tech start-ups and scale-ups since 2016, the Digital Progress Grant scheme goals to extend assist for the tech sector for the advantage of over 22,000 companies, with a minimum of 80 per cent primarily based outdoors of London.

The grant was awarded following an open competitors and rigorous evaluation course of, with the DCMS division deciding that Barclays Eagle Labs represented the most effective worth for taxpayer cash, with the total grant set to be allotted to supporting the UK tech ecosystem.

The Digital Progress Grant will probably be awarded to Barclays Eagle Labs from April 2023, and is deliberate to fund exercise till March 2025, whereas Tech Nation — the UK community presently tasked with boosting tech sector progress — will proceed to ship remaining DCMS grant funding till March 2023.

The funding will double the annual variety of mentoring periods provided to tech corporations to 1,500.

“Eagle Labs’ imaginative and prescient is to make the UK tech sector an engine for progress and for the UK to be the most effective place on this planet to start out and develop a tech enterprise,” mentioned Amanda Allan, director of Barclays Eagle Labs.

“Via the Digital Progress Grant, we’re excited to double down to achieve extra companies throughout the nation with our best-in-class enterprise progress programmes and bespoke regional assist.

“We now have a monitor report of supporting over 8000 start-ups and high-growth companies since we launched in 2015 and we’re proud that, as a result of our established Eagle Labs community, we will cross by means of all grant funds to our supply companions and programmes, serving to to maximise the influence of the grant in supporting the UK tech ecosystem.”

Minister for Tech and the Digital Economic system, Paul Scully, commented: “We need to unlock the potential of the following technology of start-ups and scale-ups and enhance tech companies in all corners of the nation.

“Barclays Eagle Labs are digital business specialists and can assist tens of hundreds of tech corporations and founders to attain their desires and create jobs and financial progress.”

How will the funding be invested?

With partnership collaboration between organisations proving key to innovation within the tech business, Barclays Eagle Labs and business companions will present specialist assist with a give attention to founders from underrepresented communities — for instance, increasing entry to progress programmes for black and female-founded companies.

Governmental funding may even go in direction of coaching assets and alternatives for entrepreneurs, together with a Studying Administration System offering digital coaching to over 10,000 companies, and coaching modules catered for budding entrepreneurs. 

Barclays Eagle Labs has specialised in delivering progress programmes, enterprise mentoring and occasions to start-ups and scale-ups since its institution in 2015.

The accelerator operates by means of 38 bodily regional websites, in addition to nearly throughout the nation, and is trying to create efficient native networks to assist tech companies wherever they’re within the UK.


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