The Department for Digital, Culture, Media and Sport (DCMS) awarded Barclays Eagle Labs a £12 million Digital Growth Grant to support the growth of UK tech startups and scaleups. The grant will run from April 2023 to March 2025.
Barclays Eagle Labs is a network of 38 regional hubs in the UK that provide support to startups and scaleups. The hubs offer a range of services, including workspace, mentoring, networking, and access to funding.
The DCMS decision to award the grant to Barclays Eagle Labs was controversial. Some people argued that Tech Nation was a more experienced and capable organisation, while others argued that Barclays Eagle Labs had a better understanding of the needs of local communities.
Only time will tell whether Barclays Eagle Labs will be a successful replacement for Tech Nation. However, the DCMS decision is a sign of the government’s commitment to supporting the UK’s tech sector. It is not yet fully clear whether Barclays will be endorsers for the Global Talent Visa.