Barclays Eagle Labs receives grant to support tech start-ups

Barclays Eagle Labs will increase support for small and scaling tech companies after a grant from the government to help strengthen the UK’s digital sector. 

A £12.09m Digital Growth Grant will build on the over £40m already invested by the government to support tech start-ups and growing businesses in the sector since 2016.

Paul Scully, the Minister for Tech and the Digital Economy, said: ‘We want to unlock the potential of the next generation of start-ups and scale-ups and boost tech businesses in all corners of the country. 

‘Barclays Eagle Labs are digital industry experts and will help tens of thousands of tech firms and founders to achieve their dreams and create jobs and economic growth.’ 

Training resources will be provided to entrepreneurs through the grant which will also cover a Learning Management System to provide online training to over 10,000 businesses as well as doubling the number of mentoring sessions currently offered by the group to 1,500 a year. 

Eagle Labs work, combined with investment from the government, will look to support tech businesses from around the country with at least 80% of the over 22,000 that will benefit being based outside of London including through the existing 38 physical sites in places such as Aberdeen and Cardiff. 

Amanda Allen, Director of Eagle Labs, said: ‘We have a track record of supporting over 8000 start-ups and high-growth businesses since we launched in 2015 and we’re proud that, due to our established Eagle Labs network, we can pass through all grant funds to our delivery partners and programmes, helping to maximise the impact of the grant in supporting the UK tech ecosystem.’ 

An independent panel assessed applications from a variety of initiatives in the UK before selecting Eagle Labs for the grant, former Digital Growth Grant holder Tech Nation will continue to deliver its remaining funding until March 2023, with Eagle Labs receiving the funds from April 2023 to March 2025. 

The announcement comes soon after Labour and Shadow Chancellor of the Exchequer Rachel Reeves called for greater investment and support for UK start-ups after publishing a report on venture capital investment.

Photo by Rubaitul Azad