Barclays heads to New York to find fintech start-ups for London accelerator
The banks innovation director is pitching the accelerator idea to start-ups in NYC today
Barclays has turned to New York City in a bid to find the best financial technology start-ups to enrol in its London-based accelerator programme.
The UK bank is inviting ten start-up companies to partake in a 15-week “fintech” accelerator programme in conjunction with Techstars.
Start-ups worldwide are invited to apply for the three-month programme, with successful applicants offered seed funding of £12,500 in exchange for six percent equity, and access to office space in London's Mile End, near Tech City.
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Barclays is reaching out to New York businesses as part of a global 'Recruitment Tour' where it aims to explain the programme to potential candidates.
The event is being held today at the Techstars NYC office on Cooper Square, and will include presentations from Barclays' innovation director Alec Scandurra, and TechStars MD Greg Rogers.
Start-ups are invited to apply up until 21 March 2014, with the programme beginning in June. A number of 'demo days' will take place in September where the start-ups will present their ideas to banking executives and investors.
Barclays is aiming to launch a total of six accelerator programmes in the next three years.
A number of other fintech accelerators already exist in London, such as Canary Wharf-based Level 39 and Startupbootcamp’s version which is backed by Lloyds, MasterCard and Rabobank.