Applications have opened for the Barclays Accelerator programme. Powered by Techstars, the initiative is aimed at uncovering the next M-Pesa or Paypal by working with exceptional fintech entrepreneurs in Africa’s financial services industry.
The collaboration between Barclays Africa and Techstars offer a game-changing opportunity to 10 qualifying fintech startups. The selected startups will take part in a 13-week programme beginning in May 2017, at the Rise fintech innovation hub in Woodstock, Cape Town.
The Barclays Accelerator first came to Africa at the beginning of this year and was a significant success, with Barclays Africa signing initial collaboration agreements with 7 of the 10 startups which were part of the programme.
Yasaman Hadjibashi, who is leading the innovation agenda for the Barclays bank says:
Africa has tremendous untapped potential to not only pioneer its own creative solutions for its unique contexts but to also create solutions that the rest of the world can adopt for their own contexts.
According to the Disrupt Africa African Startups Funding Report 2015, 29% of investment in African tech startups goes to those focused on fintech, suggesting a substantial opportunity for innovative ventures in the sector.
Selected startups will be given the opportunity to enter or expand their presence in the African marketplace via Barclays Africa Group’s customer, product, and technology teams. The selected startups will also have the chance to scale globally through Rise sites in London, New York, Mumbai, Tel Aviv and Vilnius.
The Accelerator offer companies an advantage over others by providing a proven curriculum, and lifelong access to the Techstars global network of mentors, investors and venture capitalists.
Techstars invests up to $45,000 in each company and Techstars companies average over $1.5 million outside venture capital raised after leaving the program.
Applications close on the 5th of February 2017 and fintech companies can apply here.
For more information send a mail to Emily Skinstad on emily.skinstad@tech- stars.com