Barclays launches Eagle Labs in London and Birmingham 

Barclays has partnered with x+why, a versatile workspace supplier, to launch two new Eagle Labs to bolster the UK’s startup ecosystem.

The Labs are situated in Chiswick, London and Birmingham, and be part of an inventory of 31 different Barclays Eagle Labs across the nation.

The partnership is designed to spice up innovation in London and the West Midlands by creating an area for founders to attach and drive progress within the native economic system.

Apart from offering coworking and assembly areas, the Eagle Labs will even assist entrepreneurs with entry to banking companies, enterprise experience, mentoring and training from scale-up specialists.

“Every web site additionally has a devoted Barclays Ecosystem Lab supervisor to make sure that there are alternatives to supply suggestions and dialogue on the varieties of companies and assist delivered,” particulars Matt Corbidge, Head of Barclays Eagle Labs.

The Barclays Eagle Labs group will even host a full year-round occasions programme for members. Companies can apply now to develop into residents on the new areas.

Entering into Tech Nation’s sneakers

Barclays Eagle Labs is likely one of the largest coworking and incubator networks for startups and scaleups within the UK. It has supported over 12,000 companies by bodily areas and digital assist.

Launched in 2015, Barclays Eagle Labs established a community of member companies, companions, traders, corporates, mentors and banking experience.

It’s central position in accelerating startups progress was cemented after the Division for Digital, Tradition, Media and Sports activities reallocated the Digital Progress Grant to Barclays Financial institution.

Beforehand, the recipient of the Digital Progress Grant value £12.09m was Tech Nation, which was acquired by Founders Discussion board Group (FFG) in April after saying its closure.

Tech Nation held a formidable monitor report. Based on statistics, 80% of startups fail inside their first two to 5 years, but 95% of the startups in Tech Nation’s accelerator program went on to scale.

FFG has introduced that some Tech Nation packages will relaunch this 12 months with industrial funds however notes the competitors in opposition to Barclays to develop into a go-to assist supply for startups will probably be steep.

Selling progress

The inauguration of the 2 new Barclays Eagle Labs follows information that the UK has maintained its place because the third largest tech sector on the earth, after China and the US.

The UK tech sector is valued at £820bn, regardless of going through a 57% lower in tech funding within the first half of 2023, in comparison with the identical interval in 2022.

Up to now, UK tech startups have raised £10.2bn, indicating a slower funding velocity than final 12 months’s whole of £24bn.

Regardless of indicators of lowered funding, based on a examine launched by HSBC Innovation Banking and Dealroom, the UK continues to be a world hub for startups and enterprise capital.

Discovering alternatives for mentorship, assist, and networking will probably be essential as startups battle in opposition to a sophisticated macro surroundings.