UK bank to roll out accelerator for Black founders

The objective of this virtual program is to improve opportunities for Black colleagues

program Barclays

UK bank to roll out accelerator for Black founders. Source: unsplash.com

Barclays is launching a 12-week accelerator program for 25 Black founder-led tech businesses. The launch features acclaimed photographer Misan Harriman, the first Black male cover photographer for British Vogue, and Oscar-nominated filmmaker Cornelius Walker.

The bank is working with social enterprise Foundervine on the accelerator to help tech businesses founded by one or more Black Entrepreneur to boost diversity in entrepreneurship. The program will include a series of masterclasses focused on a number of core business skills, including product development, sales strategy, operation, and leadership.

For this program, over 140 businesses have applied to take part in the accelerator, of which 25 successful businesses will be selected. During this program, the black entrepreneurs will be trained by and receive high-level coaching from the professionals. Barclay’s will also provide access to “Barclays UK-wide Eagle Labs Network” and access to community events to the participants.

Barclay’s is planning to start this program on the 12th of November and will last three months, in which founders will have the opportunity to present their business to potential clients and investors. The launch of the Black Founder Accelerator comes as Barclays celebrates Black History Month and further demonstrates its commitment to the Race at Work agenda.

The program’s creator stated that they had seen the lack of diversity, especially with black entrepreneurs; they realized this was a national issue, that’s why they planned to launch the Black Founder Accelerator.

We’ve reported that Barclays signed an agreement to become a founding investor in Barrenjoey Capital Partners, a newly-established Australia-based financial services firm. Barrenjoey, which is scheduled to launch in mid-2021, will provide corporate and strategic advisory, domestic equity and debt capital market underwriting, cash equities, research, prime brokerage as well as traditional fixed income services in Australia.

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