Barclays announced earlier this week it is launching a 12-week virtual accelerator program that is designed to help early-stage tech businesses, founded by one or more black entrepreneurs.
Barclays reported that the program, which is in partnership with social enterprise Foundervine, was created in order to boost diversity in entrepreneurship. The founders will be mentored by and receive professional coaching from scale-up experts. More than 140 businesses have applied to take part in the accelerator, of which 25 successful businesses will be selected to participate in the program.
“[The program] will culminate in a demo day in which founders will have the opportunity to present their business to potential clients and investors. In addition, through the program, participants will gain access to the UK-wide Eagle Labs network and exclusive access to community events through Barclays Eagle Labs.”
While sharing more details about the program, Natalie Ojevah, Ecosystem Manager at Barclays Eagle Labs, stated:
“Having worked with businesses for a number of years, and in my current role supporting founders and startups, I have seen the lack of diversity, especially with Black entrepreneurs. I realized this was a national issue, so working with my colleagues and Foundervine, we have launched the Black Founder Accelerator. Foundervine’s track record of supporting Black founders and businesses will help us to make a real difference and I am delighted to see the program come to life.”
The program will start on November 12th.