Barclays and its support for High Growth businesses
In March 2016, Barclays announced its plan to introduce a national network of Eagle Labs, supporting high growth UK businesses and entrepreneurs.
Barclays Eagle Lab Incubators will specifically target high growth firms and entrepreneurs, giving fast growing businesses the space and resources to help them succeed. They will be able to collaborate with other like-minded businesses, mentors and industry experts.
Barclays currently has five Eagle Labs, two of which are in Cambridge. The Eagle Lab MakerSpace in Cherry Hinton Road was opened in 2015, and the location of Barclays first Eagle Labs Incubator in Chesterton Road was chosen on account of the city’s history of developing an outstanding record of business success, based on a relationship between a world-leading University and one of Europe’s top technology clusters. The Incubator will help to support that success, giving future entrepreneurs the space and opportunities to become part of the Cambridge Phenomenon.
The Incubator has been specifically designed to support fast growing businesses and entrepreneurs and follows on from Barclays’ launch of its High Growth and Entrepreneurs’ proposition, supporting UK scale-ups and their founders, in direct response to Britain’s scale-up gap. Barclays Eagle Labs will help the UK compete on the global stage, helping scale-ups to rapidly grow and in turn help create thousands of new jobs for the UK economy.
The Incubator in Cambridge provides space for up to 82 business people and entrepreneurs. Businesses will benefit from state-of the-art facilities and being co-located with other likeminded entrepreneurs. Residents will be able to access an extensive network of mentors and funding opportunities as they scale their businesses. Incubator residents will also be able to access support from the Cambridge Judge Business School. Watch this interview of Benjamin Storey, Head of Eagle Labs Cambridge.
Barclays recently launched a report with two of the world’s most prominent research teams in entrepreneurship. For the first time, the Cambridge Judge Business School and the Saïd Business School have collaborated on a project that aims to contribute to fundamental change in helping UK entrepreneurs and scale-ups.
The Scale-up UK report : Growing Businesses, Growing our Economy led by Professor Stelios Kavadias of the Cambridge Judge Business School, and Professor Thomas Hellmann of Oxford’s Saïd Business School, examines a range of issues impacting the UK entrepreneurial ecosystem, including access to investor capital, debt and equity finance, leadership skills and business mentoring.
Under the commitment for High Growth & Entrepreneurs, Barclays has also created:
- A dedicated team of Barclays High Growth & Entrepreneur Relationship Directors across the UK.
- Two new dedicated funds totalling £150million have been set up to specifically help innovative companies under Barclays’ High Growth Venture Debt Fund and Innovation Finance.
Barclays, High Growth, and the Cambridge Cluster Map
By its partnership with the Cambridge Cluster Map, Barclays is positioned to support businesses in an exemplar, high growth city in the UK. Recent research by Cambridge Ahead shows that the city underwent remarkable growth during 2014/15, with Cambridge companies enjoying a 7.7% increase in turnover – which now stands at £33 billion – and a 7.5% increase in employment. The knowledge-intensive (KI) sectors of computing, life sciences, research services and high-tech manufacturing, which make up 30% of employment and 33% of turnover, have grown steadily over the last four years, with a compound growth rate of turnover of over 7.9% per annum to £11 billion and employment growth of 6.3% to 59,000.
Further information about Barclays’ offering for High Growth businesses and their founders is available on https://entrepreneurs.barclays/
For further information regarding Barclays Eagle Labs in Cambridge please contact Ben Storey.