Barclays is launching a virtual accelerator programme for early-stage tech businesses founded by one or more black entrepreneurs.
The Black Founder Accelerator is a 12-week scheme being run in partnership with Foundervine - a social enterprise specialising in digital start-ups - that aims to boost diversity in entrepreneurship.
It will include product development, sales strategy, operations and leadership, and the founders will be mentored and coached by scale-up experts, according to the bank.
More than 140 businesses have applied for the programme, which starts on November 12 and will see 25 entrepreneurs taking part.
The accelerator will end with a 'demo day’, according to Barclays, where founders will be given the opportunity to present their business to potential clients and investors.
Through the programme, participants will also be able to access the bank’s entrepreneur support network - Eagle Labs - and community events.
Natalie Ojevah, ecosystem manager at Barclays Eagle Labs, who led on the creation of the programme, said: “Having worked with businesses for a number of years, and in my current role supporting founders and start-ups, I have seen the lack of diversity, especially with black entrepreneurs.
“I realised this was a national issue, so working with my colleagues and Foundervine, we have launched the Black Founder Accelerator.
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“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 programme come to life.”
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Izzy Obeng, managing director of Foundervine, added: “I am delighted to be partnering with Barclays Eagle Labs to launch the Black Founder Accelerator.
“Together we have the opportunity to help level the playing field for black founders - building a more equitable future where successful founders come from a wide range of backgrounds."
For more details on the Black Founder Accelerator or Eagle Labs, visit labs.uk.barclays/barclays-black-founder-accelerator