Barclays is teaming up with venture capital outfit Anthemis to launch a New York-based studio for female fintech entrepreneurs.
According to a BCG report, female-founded startups outperform their male counterparts in terms of revenue. Yet, in 2017 just over two per cent of venture capital funding went to all-female startup teams.
The new Female Innovators Lab is hoping to change this, boosting diversity and inclusion in fintech through a hands-on programme targeting budding founders, helping them to shape and execute a vision, from concept development through to business launch and seed investment.
Once established, the startups will move into Barclays’ newly expanded Rise building in New York’s Silicon Alley, where they will have access to mentoring and networking opportunities.
Mariquit Corcoran, MD, group innovation, Barclays, says: "By supporting female entrepreneurs at the earliest stage in their journey, I am hopeful that we can significantly improve diversity in the wider fintech investment ecosystem."