Barclays has backed an Unreasonable Impact support scheme to help EU and UK tech entrepreneurs.
Barclays has picked 13 new ventures to be a part of the scheme, which is run in partnership with international growth company Unreasonable Group.
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Unreasonable Impact was formed in 2016 and helps upcoming tech entrepreneurs connect with mentors and support networks.
Barclays and Unreasonable Group met their previous target of helping 250 more start-ups by the end of 2022. The two companies have since committed to helping an additional 200 entrepreneurs over the next five years.
Together, the 13 ventures have raised $400m (£300m) in funding. More than half of this year’s intake comprises female applicants or applicants from diverse backgrounds.
All the ventures added this year are centred around tackling social and environmental issues.
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By GlobalDataBarclays and Unreasonable Group said they believed in the potential for high-growth tech entrepreneurs to positively impact the climate and broader society.
The mentorship provided through the scheme will include a week-long residency where entrepreneurs can access deep-dive industry talks, investor guidance and masterclasses.
After the scheme is completed, the chosen start-ups will receive advice from more than 2,000 mentors and investors including many of Barclays’ employees.
“Barclays is providing expertise to nurture climate tech and other sustainability-focused ventures at each stage of their journey as they scale from idea to IPO [initial public offering],” stated Barclays’ global head of citizenship, Deborah Goldfarb.
“Through our partnership with Unreasonable Group, we are giving entrepreneurs access to our ecosystem, mentors and investors to help tackle key social and environmental challenges,” she stated.
One company pleased to be part of the 2024 cohort is Constellr. The German company uses satellite data to measure the Earth’s temperature to support food security. It leverages satellite data to prevent crop failure and help advise on creating better crop yields.
CEO of Constellr Max Gulde said he was excited to be a part of the scheme.
“We aim to empower efficient resource management to support ten billion people by 2050 amidst a changing climate,” he said, “I look forward to collaborating with industry experts, mentors and fellow entrepreneurs.
“Together, we can not only scale Constellr’s growth but also contribute meaningfully to addressing critical global challenges,” Gulde stated.
