Barclays takes fintech accelerator to New York

Barclays takes fintech accelerator to New York

Barclays Bank has headed to New York in search of innovative fintech start-ups to join its three-month accelerator programme in London.

The UK bank is inviting ten start-up companies to take part in a 15-week fintech accelerator programme in conjunction with Techstars.

Successful applicants will get a seed investment of £12,500 from Techstars - in return for a six percent equity stake in the finished product - and office space at Barclays Mile End Road, east London, within the Tech City boundaries.

The New York meet-up is part of a global 'Recruitment Tour' initiated by Barclays to meet fintech startups and explain the programme.

The event takes place today at the Techstars NYC office on Cooper Square, and will feature a presentation by Barclays' innovation director Alec Scandurra, and TechStars MD Greg Rogers.

The chosen start-ups in the first wave will be challenged to create new apps using Barclays' APIs and support from developers and designers who worked on the bank's successful Pingit mobile platform.

The programme will kick off in mid-June culminating in two investor demo days in September 2014 - including an internal presentation to Barclays executives and another to an invited audience of VCs and angel investors.

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