The world of FinTech start-ups received a welcome boost recently thanks to the launch of Barclay’s second annual Accelerator programme, an initiative designed to help emerging companies establish a solid presence in the industry through intensive mentoring and development support from leading entrepreneurs and financial tech experts. The Accelerator programme, which includes opportunities to network with key decision makers at Barclays and other top institutions, has been made possible thanks to a £100,000+ investment from Techstars, a funding organisation which describes itself as a ‘mentorship-driven startup accelerator.’
Success Stories
Running for a 13 week period during the first half of 2016, those attending the accelerator programme will be surely hoping to replicate the success of previous participants, which include the likes of fraud detection specialists Everledger, and London startup Basestone, which works with construction firms to minimise waste spending through data management.
Everledger
Using the powerful blockchain technology – described by Alex Kwiatkowski in an article for Misys news portal FusionWire as ‘a record of digital events [which] is distributed between many different parties’ – Everledger provide immutable ledgers and transaction history verifications for insurance companies, claimants and law enforcement agencies. Since attending the Barclays Accelerator Programme in 2015, the company has already earned plaudits and column inches from the likes of the Financial Times, BBC, and Business Insider.
Basestone
Meanwhile, Basetone earned their place thanks to their commitment to solving the problem of excess financial waste on UK construction projects. By learning from some of the most successful figures in the financial technology industry, the team behind the company were able to spend the thirteen week programme working out of the Barclays Accelerator office to turn their project around from concept to completion. Since then, the company have gone on to help investors and construction firms save as much as 65% of costs by ensuring that communication flows effortlessly and data is distributed effectively across multiple project teams.
Getting Involved
No doubt owing to increasing popularity and record of success with previous startups, places on London’s Barclays Accelerator Programme 2016 are already full, but with only a matter of months before the application process opens again, now is certainly a good time for budding FinTech entrepreneurs to start planning ahead for the next event. After all, the programme organisers are certainly adamant that they want only the brightest, innovative and creative startups spending 13 weeks in their office.
The Application Process
‘’We’re looking for technology-focused start-ups… who share our revolutionary vision,’ says the official Barclays Accelerator website, going on to announce that they are ‘open to businesses across all aspects of financial services.’ To strengthen your upcoming application and be in with a better chance of earning your place, the organisers recommend gathering together a team of not only financial and software specialists, but also those with business and other necessary skills, and working together to develop your prototype as thoroughly as possible so that you’ll have something ready to work on by the time Barclays Accelerator Programme 2017 starts looking for the best new talent in the FinTech world. To find out more, visit http://www.barclaysaccelerator.com/
