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Barclays to provide free working space for local enterprise and innovation

​​Social enterprises, entrepreneurs and community groups will be offered free space in a move by Barclays to encourage local enterprise, continuing its support for entrepreneurs.

Hatch, in partnership with charity 3Space, aims to transform under-utilised Barclays’ properties into space for social entrepreneurs, early stage local businesses and community groups. The first Hatch has opened its doors in Oxford; with a further three set to open in 2015.

Hatch will provide for a unique combination of creative, social and community needs, helping more people get their business ideas off the ground. It will also be a central hub for local communities, hosting local events and meetings.

Commenting on the Hatch initiative, Derek White, Barclays Chief Design and Digital Officer said: “One of the challenges facing fledgling enterprises today is finding affordable space in which they can experiment with ideas and foster creativity. Working with 3Space allows us to tackle this, providing a base for local entrepreneurs and social enterprises and giving them access to the support and resources they need, beyond traditional banking products and services.”

Andrew Cribb, CEO and Co-Founder, 3Space said: “Through our experience in transforming otherwise empty buildings across the UK we have identified a need for a type of local space where creatives, social enterprise, non-profits and local entrepreneurs can work, collaborate and experiment, creating value from an otherwise under-utilised resource, whilst also providing the foundation for sustainable local economic development. We are delighted to have a corporate partner in Barclays, which has the reach and resources needed to achieve this vision.”

The set-up of the spaces will be flexible to encourage experimentation and innovation, and will provide a range of useful tools and equipment. For example in Oxford, the former bank vault has been repurposed into a maker space, equipped with a 3D printer and workshop tools Further free of charge support will also be provided by Barclays staff such as social media training and access to Barclays personnel to help mentor and support their business growth. Barclays Digital Eagles, specially trained members of staff that provide free technology advice, will also be on hand to help.

The programme extends Barclays’ support for SMEs and community groups and represents a real opportunity for sustainable economic growth in towns and cities across the UK. It follows the recent Barclays Accelerator, a three month intensive start up programme designed to support new businesses on their journey to delivering breakthrough innovations in FinTech and the opening of the Escalator, in East London and Manchester.

For more information on the first Hatch, visit www.3space.org  

Notes to editors

About the Hatch in Oxford
• Address: 37-38 Little Clarendon Street, Oxford OX1 2HF. Open 9:30am – 6:30pm
• Available free of charge to non-profits, social enterprises, community groups, and early stage local start-up businesses
• Do not need to be a Barclays customer
• Further details on how to apply to use the space are available at www.3Space.org or via info@3space.org
• Space will comprise a mix of co-working, event, maker/workshop and meeting space. The former bank vault has been repurposed into a maker space.
• Facilities provided included 3D printer, sewing machine, workshop and maker tools, AV and event/meeting equipment


About 3Space
3Space is a charity that works with landlords and leaseholders to unlock the value of otherwise empty commercial properties, making them available free of charge for a limited period for community use – establishing local networks and providing the infrastructure needed for experimentation from social entrepreneurs.

3Space has managed the short-term use of over 45 properties in the UK since 2010, repurposing these to suit the needs of social enterprises, non-profits, community groups and local entrepreneurs. It provides a scalable approach to the management of vacant commercial space, reducing waste while delivering social and economic benefits and driving urban renewal.

www.3space.org

About Barclays

Barclays is an international financial services provider engaged in personal banking, credit cards, corporate and investment banking and wealth management with an extensive presence in Europe, the Americas, Africa and Asia. Barclays’ purpose is to help people achieve their ambitions – in the right way.

With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs approximately 135,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website www.barclays.com.