Barclays and Legal & General launch Eagle Lab Cardiff
Barclays Eagle Lab at Brunel House will support Wales entrepreneurial business community.
‘Barclays Eagle Lab’ in partnership with Legal and General will open its doors later this year, as part of a new 6,500ft2, incubator facility. Located at Brunel House, Cardiff the Eagle Lab will give the South Wales start-up and scale-up communities a crucial boost.
Cardiff is the 13th Eagle Lab Barclays has opened, after success in locations such as Salford, London and Cambridge.
The 120 seat co-working site, will be the home to the Barclays High growth & Entrepreneur Proposition and in addition will include Maker Space facilities supporting rapid prototyping and product development.
Mike Hayden, Barclays’ Head of SME Banking in South Wales said, "The Barclays Eagle Lab business incubator has been successfully launched in 12 other major cities across the UK, some by regenerating unused Barclays premises; and others by partnering in the regeneration of old city buildings. We have seen the success of other Eagle Labs across the country and have been proactively seeking the right partner and location for Wales first Eagle Lab, demonstrating our support to the local SME sector, and in particular focusing on support to high growth businesses and entrepreneurs.
Barclays have been working alongside Legal & General in various capacities for many years and collaboration for an Eagle Lab focusing on Home tech seemed the next natural step. When we heard about the plans for Brunel House, we thought it would be the perfect fit. We both appreciate the importance of supporting entrepreneurs, start-ups and accelerating high growth companies, and the vital role they play in creating a sustainable, prosperous Welsh economy.”
The space at Brunel House, will be specifically designed around the needs of local entrepreneurs, businesses and communities and tailored to suit Wales strength in high tech digital and IoT (Internet of Things) innovation.
The Labs are supported by Barclays’ Digital Eagles and local colleagues will be residents in the space to offer support to the local community to develop their digital skills. Barclays will also have a Business Manager on site to provide support to local companies and entrepreneurs as well becoming the Cardiff base for Barclays’ Digital Eagles community activity.
Mike Hayden continued, "Our investment will bring benefits far beyond a shared workspace and much further afield than Cardiff. Through direct access to the UK-wide Barclays Eagle Lab network, companies can use any of our Labs. We have a dedicated pool of experts in the business needs of high growth and entrepreneurial companies; we can link with a wide network of like-minded entrepreneurs and sectoral specialists who provide mentorship and support; and we can provide access to Barclays SME funding. This new Barclays Eagle Lab in the heart of "Cardiff will help Welsh entrepreneurial companies to scale up and accelerate their growth locally and into international markets."
Nick Frankland Managing Director of Fintech for Legal and General Insurance said: "Legal & General has invested over £300m into the development of Cardiff and we are delighted to lend our support to help businesses grow. We strongly believe that the UK is never short of ideas but we know how difficult it is to ‘scale up’ and succeed. We really look forward to welcoming new people to the lab and giving a helping hand wherever we can."