Barclays Bank kicks off fintech accelerator programme

Barclays Bank kicks off fintech accelerator programme

The UK's Barclays 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 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.

There will be two waves each year, adding up to 60 start-ups over the length of the three-year programme.

Top-level mentoring will be provided by executives from Barclays, including Group CIO, Darryl West, and chief design officer, Derek White, alongside those from Techstars, including MD Jon Bradford, and founder and CEO David Cohen.

"We're not looking for experts in our systems, just creative startups with a visionary attitude and radical ideas," says Barclays. "You'll get access to our APIs and support from developers who've designed and built some of our most successful products and services, so you can learn how we work when you start the programme."

Applications are open now, with the chosen finalists notified in early May. The three-month accelerator 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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