Barclays Eagle Labs launches programme targeting insurtech sector

Barclays Eagle Labs has launched a government backed digital growth programme to support technology businesses, including insurtechs.

The bank was awarded a £12m digital growth grant (DGG) in February 2023 to run the scheme, with Tech Nation losing out on the government funding.

The grant and Eagle Labs aim to support 22,000 businesses over the next two years to help the technology sector to grow, a statement released yesterday (19 April 2023) said.

Paul Scully, minister for tech and the digital economy, said: “We want to give UK tech businesses the best start so their innovation can drive growth and investment across the country.

“Through the government-funded DGG, Eagle Labs will offer support and opportunities to help tens of thousands of startups and scaleups unlock their full potential.

“This is central to our plans to make the UK a tech and science superpower.”

Accessible support 

Applications are now open for the first series of programmes.

These include an ecosystem partnership programme, HealthTech and AgriTech industry bridge programmes and a funding readiness programme.

A statement said the “programmes aim to address some of the key challenges facing the UK tech sector”.

Hannah Bernard, head of business banking at Barclays, said: “The DGG will make our support accessible to even more businesses up and down the country and enable us to provide tailored growth programmes, first-class business mentoring and access to even more resources to drive further growth.

“By leveraging the depth and breadth of our wider banking connections, supporting our communities and enabling entrepreneurs to develop the skills and confidence they need to succeed, we are helping all businesses to grow.

“This is the ethos that has been driving Barclays Eagle Labs since its inception in 2015 and drives every single colleague in our broader business banking team.”