The Barclays Accelerator, powered by Techstars, is a 13-week intensive startup program designed to support new businesses on their journey to delivering breakthrough innovations.
It follows the conclusion of the first program in September this year which saw a range of innovative ideas being pitched to industry leaders, including a new credit scoring system and a new peer-to-peer lending platform that is designed to revolutionize the home-buying process. Some of the teams also joined forces with Barclays, for instance Tryum capitalized on the exclusive access to the Barclays Pingit API by demonstrating a working integration into their customer engagement platform.
Entrepreneurs and start-up companies worldwide can apply for the program, with their applications focused on developing the future of FinTech. Upon review of applications, ten companies will be selected for a place on the Accelerator program, which is due to begin in March 2015.
The ten 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.
“Egypt has many talents in digital and software technology that are capable of providing leading innovative solutions in the financial sector” said Ed Marks, Managing Director at Barclays Bank Egypt.
“We have already seen many successful stories come out of the in Barclays Accelerator program and we hope that local companies join their peers on an international level who have been able to provide solutions to overcome the current challenges that face the finance sector.”
“Barclays Accelerator offers the necessary support to innovators and helps them develop their creative ideas to ultimately enhance the global banking sector with these technological innovations and solutions.”