LONDON – In a groundbreaking collaboration, Barclays and University College London (UCL) have unveiled Conception X, a pioneering initiative set to empower PhD students in UCL’s esteemed Computer Science program to translate their research into investable deep tech start-ups. With the inaugural cohort launching on February 27, Conception X will nurture 27 teams across various verticals, including finance and health, with a focus on fostering diversity by incorporating all-female teams and those led by female founders, according to a press release published on EuropaWire.

Throughout the nine-month program, participants will receive intensive mentorship from seasoned entrepreneurs, academics, and potential investors, facilitating the evolution of their concepts into viable ventures. Notably, students will retain full intellectual property rights over their projects, ensuring their autonomy in the innovation process.

Building on the success of the pilot program in 2018, which saw the emergence of six fully-fledged start-ups and garnered substantial funding, Barclays has committed to providing financial support for Conception X’s expansion, with plans to involve leading universities nationwide in the near future. Additionally, Barclays’ Eagle Labs network will offer ongoing mentorship and access to funding, underscoring the bank’s commitment to fostering inclusive innovation and technological advancement.

Steven Roberts, Managing Director of Barclays UK Ventures, emphasized the transformative potential of deep tech in driving societal progress, affirming Barclays’ dedication to democratizing access to entrepreneurial opportunities. Meanwhile, Riam Kanso, Lead of Conception X and Head of Student Entrepreneurship at UCL Engineering, highlighted the program’s unique proposition for PhD students, offering a pathway to entrepreneurship supported by UCL’s research infrastructure and Barclays’ extensive network.

Conception X represents a pivotal step towards harnessing the UK’s academic prowess to fuel innovation and economic growth, positioning deep tech ventures as catalysts for positive change in society.