Barclays and Techstars launch FinTech start-up accelerator
London-based Barclays Accelerator to deliver three month “intensive” programme
Global services provider Barclays and international accelerator Techstars have partnered to launch a programme targeted at “innovative” new businesses operating in the financial technology (FinTech) market.
The Barclays Accelerator will offer entrepreneurs and start-ups in the banking industry access to seed funding, office facilities in London’s Mile-End and mentoring from leading Barclays and Techstars executives, including Techstars founder and CEO David Cohen.
The programme will run for three months from June 2014 and entries are open to businesses from across the world.
Ten companies will initially be selected to join the accelerator, with a wider goal to support sixty companies over the next three years.
Businesses accepted onto the scheme will be given the opportunity to present their business models at a Barclays Executive Demo Day and a Public Investor Demo Day in London.
It is intended that the accelerator will identify breakthrough businesses and support the growth of new ideas and innovations that are capable of “shap[ing] the future of financial services”.
Techstars’ Cohen discussed the launch:
“It’s a great opportunity for those entrepreneurs who have the right ideas that will make a difference in banking, whether it’s a new payment solution or a financial management tool.”
Barclays chief design officer, Derek White, added:
“Combining the breadth and depth of Barclays’ global financial expertise with the experience and extensive mentor network of Techstars is a recipe for success for a select group of entrepreneurs.”
Applications for the Barclays Accelerator are open until March 21 2014, to enter click here.