Tech start-up companies in the Isle of Man still have time to benefit from a major scheme launched by Barclays and Techstars but need to move quickly to meet the approaching application deadline.
The Barclays Accelerator will give 10 innovative tech businesses the chance to shape the future of financial services, and firms in the Isle of Man are welcome to apply for the programme. However, applications must be received by March 31st, 2014.
The programme, powered by Techstars, is a three-month intensive start-up programme designed to support new businesses on their journey to delivering breakthrough innovations. It is the first financial technology accelerator of its kind to be run by Techstars, who have previously run programmes for clients including Nike and Microsoft.
Entrepreneurs and start-up companies are asked to focus their applications on improving the banking experience for consumers. Just 10 companies will be selected for a place on the prestigious Barclays Accelerator programme.
The successful companies will be guided through the process of growing and developing their business with the help of seed funding from Techstars and custom-built facilities in Mile End, London, near Tech City. They will also be mentored by notable executives from Barclays, including Group Chief Information Officer Darryl West and Chief Design Officer Derek White, alongside mentors from Techstars, including Jon Bradford, Managing Director of Techstars in London, and David Cohen, founder and CEO of Techstars.
Over the next three years, Barclays and Techstars have committed to working together to offer six different accelerator programmes, this being the first, which will ultimately help sixty different companies. This is great news for the Isle of Man as there is clear synergy between the government’s Vision 2020 plan, which has identified IT as vital for continued economic growth, and Barclays’ commitment to support entrepreneurs.
Commenting on the partnership, Derek White, Barclays Chief Design Officer, said: “At Barclays, we have identified technology as a key driver of innovation and it will be paramount to Barclays achieving our ambition of becoming the ‘Go-To’ bank. Combining the breadth and depth of Barclays’ global financial expertise with the experience and extensive mentor network of Techstars is a recipe for success for a select group of entrepreneurs.”
Techstars founder and CEO David Cohen said: ‘We are excited to partner with Barclays on the next wave in FinTech. It’s a great opportunity for those entrepreneurs who have the right ideas that will make a difference in banking, whether it’s a new payment solution or a financial management tool.”
Each company accepted into the Barclays Accelerator will refine their business model, culminating in a Barclays Executive Demo Day and a Public Investor Demo Day in London.
The programme will begin in mid-June, with the Demo Days scheduled for September 2014.
If you would like to know more about the Accelerator programme, please visit the dedicated website www.barclaysaccelerator.com.
