In September, the Social Innovation Facility convened more than 250 employees to work in teams and explore topics such as climate change, water scarcity and financial inclusion through Social Innovation Challenges. Judges selected seven winning teams to participate in the Intrapreneur Lab at the University of Oxford.
The winning proposals included solutions such as an agricultural industry hub to examine water usage in the supply chain, among others. The three-day incubator hosted at Oxford's Said Business School will be followed by three months of hands-on work supported by mentors and experts who are helping expand these ideas into full-fledged business propositions with the potential to be incorporated into Barclays’ product suite.
A Social Innovation Demo Day also took place at the Investment Bank’s New York headquarters in October. After spending three months in the US Intrapreneur Lab, six teams of finalists pitched their ideas for new banking products and services that also deliver a positive social or environmental impact. The winning team’s pitch was to provide automated loans to small and medium enterprises, and won funding to help further explore how to bring their proposal to market.