Applications have opened for the Barclays Accelerator Programme powered by Techstars, with fintech startups from across the world invited to apply to take part in programmes in New York and London and secure up to US$120,000.
The 13-week programme run by Techstars – for which applications are open until October 14 – is designed to fast-track the next generation of fintech businesses, and offers access to Barclays data and technology, mentorship and coaching from industry experts, use of co-working facilities, and the opportunity to pitch at a demo day.
“As well as getting unprecedented access to our data, network and knowledge base, successful applicants will also gain invaluable insights from some of the smartest minds in the startup and fintech worlds,” Barclays said.
“We’re looking for technology-focused startups with a passion for innovation, lots of creativity and who share our revolutionary vision. We are open to businesses across all aspects of financial services.”
The Barclays Accelerator is looking for founders with ideas that solve real problems or create meaningful innovations. Barclays said it was focused on teams and therefore unlikely to accept single founder companies.
Teams must be capable of designing their solutions and be ready to launch by the end of the programme, with Barclays looking for impressive teams with an ability to execute.
“We’re committed to supporting entrepreneurs and startups. We’ll provide tools, equipment and facilities – plus support for startups to get their products or services to market,” Barclays said.
“In conjunction with Techstars, we’ll also provide mentorship from carefully selected business leaders and entrepreneurs to help you develop your business model. These mentors will be able to give you unparalleled advice with networking, marketing, PR, pitching and more – helping you accelerate your company’s development.”
Techstars will invest in each company and retain six per cent equity as common stock, as it does with all of its programmes. Startups will become part of the extended Techstars network, enabling them to benefit from the business opportunities this presents.
Barclays has become increasingly active in Africa in recent months, launching a health and fintech accelerator in Cape Town and the US$10,000 Supply Chain Challenge. Meanwhile, Disrupt Africa reported last week Barclays Kenya had partnered coding school Moringa and VC firm Nest to open its Product Lab in Nairobi, an agile product development programme that will provide local developers with access to resources assisting them in launching and scaling fintech businesses.