A brand new local weather tech accelerator has been launched as a joint programme from Barclays Eagle Labs and Sustainable Ventures.
The initiative will see the local weather acutely aware investor and the entrepreneurial community ship help for UK-registered startups creating expertise with sustainability at its core, or with a transparent aspiration to develop right into a extra climate-focused enterprise.
Members will obtain industrial and technical help, entry to the educational platforms of the 2 corporations and as much as $250,000 in Google Cloud credit.
“This programme will present a whole bunch of local weather tech corporations with recommendation and help, giving them an unfair enterprise benefit that can assist them scale sooner from thought to exit,” stated Andrew Wordsworth, founder and chief government of Sustainable Ventures.
“This partnership with Barclays Eagle Labs will scale up our award successful mannequin of knowledgeable recommendation, networks, and hubs to achieve extra corporations throughout the nation. These local weather tech corporations will play an important function in serving to the UK meet its web zero targets.”
Barclays stated it’s dedicated to scaling local weather tech with a mandate by means of Barclays Local weather Ventures to speculate as much as £500m by 2027 into related corporations.
The financial institution can also be one of many world’s largest funders of fossil fuels, having invested over $200bn into coal, oil and fuel for the reason that Paris Settlement in 2015 in accordance with Financial institution.Inexperienced.
“At Barclays, we recognise the vital function that scaling local weather tech goes to play in accelerating the UK’s transition, and in reaching our ambition to turn out to be a web zero financial institution by 2050,” stated Abdul Qureshi, head of Enterprise Banking at Barclays.
“Supporting UK founders as they work to develop their companies from thought by means of to IPO is central to the mission of Barclays Innovation Banking, and scaling local weather tech particularly requires built-in help that brings capital and experience collectively in a single place.
“Collectively, we’re making a platform that helps formidable UK local weather startups to beat the obstacles to development and turn out to be the market-leading companies that the transition calls for.”
