Fintech & Ecommerce

Barclays Unveils Govt-Funded Support Programme for UK Tech

Barclays Eagle Labs has announced the official launch of a program to support British technology companies.

Barclays Unveils Govt-Funded Support Programme for UK Tech

Source: Pixabay.com

This program receives funding from the British government. Its implementation is designed for two years.

Earlier this year, Barclays received a grant of 12 million pounds. These funds were provided for technology development. This grant became a controversial decision, as a result of which the previous recipient, Tech Nation, had to close the store.

David Hamilton, head of the implementation department at Barclays Eagle Labs, admitted that the grant decision did not receive widespread support in the industry.

Now the financial institution has outlined its plans for the use of the money provided in the form of a grant. The Bank has opened applications for participation in the first of a series of programs designed to solve the problems faced by technology companies and which are a hindrance to regional growth in the relevant sector.

The Ecosystem Partnership Program will allow companies outside London to apply for funding and, if material support is provided, implement their strategies that are consistent with regional specifics.

Thanks to cooperation with Cambridge Judge Business School, teams of business leaders will receive individual coaching and access to scale-oriented training.

Eagle Labs, as part of its partnership with Plexal, will conduct an additional six-month scaling program. This program is designed to support companies that are focused on solving socially significant problems.

Initiatives will also be implemented in the field of health technology and agricultural technology. A program for black-founded tech companies will be launched later this year.

Paul Scully, Minister of Technology and Digital Economy, says that a grant funded by the UK government for the development of digital technologies will help tens of thousands of startups and scalable companies to reach their potential. He also noted that these initiatives are of particular importance in the context of efforts to transform the country into a technological and scientific superpower.

As we have reported earlier, Barclays Bank to Trim More Branches.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.