Barclays and Techstars have opened the application process for the second cohort of their prestigious Accelerator programme, which will give a further 10 businesses the chance to shape the future of financial services.
The Barclays Accelerator, powered by Techstars, is a 13-week intensive startup programme designed to support new businesses on their journey to delivering breakthrough innovations.
It follows the conclusion of the first cohort in September this year which saw a range of innovative ideas being pitched to an audience of potential investors, including a new credit scoring system and a new peer-to-peer lending platform that is designed to revolutionise the home-buying process.
Entrepreneurs and start-up companies worldwide can apply for the programme, with their applications focused on developing the future of FinTech. Upon review of applications, 10 companies will be selected for a place on the Accelerator programme, which is due to begin in March 2015.
The 10 companies will be guided through the process of growing and developing their businesses with the help of funding of up to $100,000 from Techstars. They will have world-class mentorship from industry experts and will be based at the London Escalator, near London’s Tech City, giving them the optimum environment to thrive.
For the first time, they will also have access to a catalogue of Barclays APIs and data, beyond only the Barclays Pingit API, to help them build and refine their business models.
Commenting on the partnership, Derek White, Barclays Chief Design & Digital Officer, said “We have already seen some incredible success stories come out of the Barclays Accelerator with businesses delivering disruptive technologies and fresh solutions that are tackling some of the challenges financial services face today. We are also delighted that the successful start-ups and entrepreneurs will this time have access to a suite of exclusive Barclays APIs and data. We’re thrilled that we can offer another programme in partnership with Techstars and excited about the possible opportunities that lie ahead.”
An event to introduce the Accelerator programme, including case studies of successful companies who took part in the first cohort, will be held on Tuesday 16 December starting at 5:30pm at the Digital Jersey Hub.
Neil McCluskey, Head of Offshore and Local Markets at Barclays in Jersey, said: “This is the second year we have been able to offer businesses in the Channel Islands the opportunity to be part of this scheme. Innovation in the finance sector is of critical importance to the islands so it is important for us to support this in any way we can.
“The Accelerator programme is a fantastic opportunity for local businesses to get a head start and for Jersey to make a statement on a global stage. We’d encourage any local businesses interested in applying for the programme to come along to the event to find out more.”
Each company accepted into the Barclays Accelerator will refine their business model, culminating in a Barclays Executive Demo Day and a Public Demo Day in London.
Applications are open now at www.barclaysaccelerator.com and will be open until 9 January 2015. The programme will begin on 23 March 2015 with the Demo Days scheduled for June 2015.