Barclays relaunches Cambridge coworking space for climate tech startups - TechStartups

Barclays relaunches Cambridge coworking space for climate tech startups – TechStartups

Time Stamp: January 18, 2024 9:48 AM
Source Node: 3070461

Barclays, the British multinational universal bank, has relaunched its Cambridge Eagle Lab with a fresh emphasis on supporting high-growth climate tech startups in connecting, growing, and scaling, the bank announced on Thursday. The revamped space offers dedicated pre-seed and bridge programs in collaboration with Barclays and industry partners to address climate-related challenges.

In a bid to enhance energy efficiency, Barclays has incorporated carbon reduction technologies into the Eagle Lab, aiming for a 90 percent reduction in carbon emissions from the building compared to 2018.

The redesigned Cambridge Eagle Lab is now open to startups focusing on innovative climate solutions. The space accommodates up to 130 people with a 75 percent increase in collaboration space, providing flexibility for meetings, events, and networking.

A dedicated area showcases climate tech technologies and businesses supported by Barclays through partnerships, Unreasonable Impact ventures, Bridge programs, and Sustainable Impact Capital investments.

Barclays, committed to assisting clients on the path to net zero, is strategically investing in essential climate tech for societal transition, fostering economic growth, and creating green job opportunities. This relaunch follows Barclays’ recent partnership with Carbon 13, a venture builder based in Cambridge, aiming to support over 100 startups addressing challenges on the journey to net zero.

As a center of excellence for climate tech, the Cambridge Eagle Lab supports new businesses through various programs, including the Carbon 13 Venture Launchpad, Bridge programs, and the Rise Start-Up Academy.

In envisioning a greener future, the International Energy Agency anticipates that 35 percent of the essential emission reductions by 2050 will hinge on groundbreaking technologies not yet available. Recognizing the pivotal role of supporting emerging businesses in this transformative journey, Barclays, in collaboration with industry partners, extends a helping hand through dedicated pre-seed and bridge programs for climate tech enterprises.

Embarking on the journey of innovation, the Carbon 13 Venture Launchpad stands out as a virtual 20-week program. Tailored to assist pre-seed and early-stage businesses, its goal is to facilitate the launch of scalable solutions addressing pressing climate-related challenges.

In the realm of collaborative efforts, Barclays, in tandem with Codebase, introduces a series of industry bridge programs. Among them, the Sustainability Bridge Programme takes center stage, drawing support from the government’s Digital Growth Grant. With a specific focus on sustainable transport, this initiative fosters a collaborative space where leading corporations and startups can seamlessly exchange knowledge and strategic insights.

Turning the spotlight toward the evolving landscape of energy, the Energy Transition Programme comes to life with funding from Opportunity North East. This particular program zeroes in on how innovation can play a pivotal role in steering the course toward a sustainable energy transition.

Aspiring entrepreneurs find guidance in the Rise Start-Up Academy, a transformative 10-week digital-first program. This academy is meticulously designed to equip early-stage founders with the skills and tools essential for navigating the market landscape. Furthermore, a forthcoming dedicated edition, the Climate FinTech edition, is set to launch later this year. It aims to provide crucial support to companies developing cutting-edge solutions that propel the world toward a net-zero future.

In line with its goal to achieve net zero operations by 2050, Barclays retrofitted the Cambridge Eagle Lab with energy-efficient technologies, including solar panels, double-glazed windows, insulation, and a smart HVAC system.

Nick Stace, Head of Sustainability at Barclays UK, expressed excitement about reopening the Eagle Lab and emphasized the importance of supporting climate tech startups. The retrofit aligns with the commitment to reduce operational emissions and provides startups with the necessary tools and space to address pressing climate challenges.

“We’re excited to be reopening the doors to our Eagle Lab in Cambridge with a renewed focus as a center of excellence for climate tech start-ups. We want to play a leading role in supporting climate tech and sustainability-focused businesses, by giving them the tools to help them connect, grow, and scale. It was crucial that the retrofit and internal redesign of the building accurately reflected the ethos of the businesses that will use it and we expect it to provide significant energy efficiency improvements, allowing us to take an important step forward in reducing our own operational emissions,” Stace said.

She also added, “We know that startups need more than just a space, which is why we’re also supporting businesses through our climate tech accelerator programs from the Cambridge Eagle Lab. We hope this package of support enables businesses to scale at pace and tackle some of today’s most pressing climate tech challenges.”

Founded in 1690, Barclays operates globally, with divisions including Barclays UK and Barclays International. The Eagle Labs network, a growing national initiative, provides incubation, growth programs, mentoring, and co-working spaces for ambitious high-growth businesses, fostering collaboration between startups, corporations, universities, and industry bodies.

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