Barclays Africa launches Cape Town health, fintech accelerator

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Barclays Africa has launched Tech Lab Africa, a 13-week accelerator programme aimed at providing 10 fintech and e-health startups with access to business mentors, industry leaders, influencers and experts.

Applications are now open for the programme, which will take place in Cape Town, South Africa between September and December this year, with the intention of supporting startups with the potential to change the financial technology and digital health industries.

Barclays Africa said the worlds of financial services and digital health are being disrupted by new technologies, agile companies and innovative products and services, with non-traditional competitors penetrating the market and long-held competitive boundaries disappearing.

“In order to compete, Barclays Africa needs to connect, shape and scale with these new industry players. We are looking for big, fresh ideas that promise to shake things up – be this in the financial services industry, the health sector, or anywhere else,” said Ashley Veasey, chief information officer (CIO) at Barclays Africa.

Veasey said the bank was not limiting its applicants, though ideas must address or solve existing challenges or create opportunities. Applicants must also be available to be based in Cape Town for the duration of the programme.

“The selected ventures will get access to support and mentorship from Barclays Africa executives and external experts and industry leaders. These enterprises will also be enabled through market days and roadshows to meet potential customers and investors, and may potentially get an opportunity to become a preferred supplier to Barclays Africa,” Veasey said.

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Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.

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