Barclays has launched an accelerator in London for fledgling startups working in the area of financial services, with help from the well known tech program Techstars.
While Techstars has run specific accelerators for the likes of Microsoft and Nike in the past, this is the first that will have a specific focus on finance, Barclays said.
Entrepreneurs and start-ups from around the world can apply to take part in the programme directly, and from the pile of applications ten companies will be selected for a place on the accelerator programme. The chosen few will then be mentored through the process of developing and growing their businesses. They’ll also get seed funding from Techstars and custom built facilities from which to work, in Mile End near Tech City. Barclays added that this is just the first of its collaborations with Techstars; over the next three years the two companies have committed to working together on six different accelerator programmes.
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