Launch of Creative England & Barclays Eagle Lab
Flight Accelerator for Digital and Tech Companies
The Creative England & Barclays Eagle Lab – Flight scheme focuses on boosting the prospects of fast-growing, creative technology businesses. It will operate as a 12-week accelerator for SMEs that are looking to scale up. Participants will be offered support at an early stage in their business lifecycle through workshops, masterclasses and mentor programmes, gaining experience and insights.
The scheme offers creative and digital tech high growth businesses, with an interesting product to market, the chance to secure up to £25,000 of investment, backed with a three-month residency in Brighton. Participants will receive intensive support from a wide range of coaches, mentors and guest speakers.
The investment is offered in two ways: either as an unsecured, interest-free convertible loan, or as an equity investment. In exchange for an equity investment, Creative England will take an equity share in the business.
The programme culminates in a pitch to investors, giving participants the opportunity to potentially secure additional investment from experienced Business Angels and up to £50,000 of follow-on funding from Creative England.
Support will focus on the prototype development, coupled with intensive support to help achieve early product market fit. By the end of the period, participants are expected have a demonstrable, functioning prototype or MVP (minimum viable product), backed up by a strong business case to present to investors. Applicants who have already built a prototype can focus more on the available support to take it to market.
The closing date for applications is 31 December 2016.
The programme starts on 6 March 2017and runs until 26 May 2017.
https://labs.uk.barclays/flight
