Earlier this week, Techstars opened applications for a new accelerator. Techstars and Barclays are bringing their financial technology (FinTech) accelerator across the pond to New York City. The Barclays accelerator – which is powered by Techstars – ran the same program in London last year.
The program, which again, focuses exclusively on FinTech startups, will be based in the heart of Manhattan, New York City. As for what kind of companies and what kind of products the Barclays Accelerator is looking for, it is pretty open, just as long as its in the FinTech sector:
We’re looking for a diverse group of innovative companies working at the intersection of finance and technology including: payment solutions, applications and lending, digital banking solutions, currency products, securities trading platforms, machine learning, cyber security, data and analytics amongst other topics.1
According to a post in The Wall Street Journal, “Techstars will be investing $20,000 for a 6% stake in each of the startups and will be offering a $100,000 note in the form of convertible debt to graduates”2 Pretty standard stuff.
- Jenny Fielding, Techstars Blog, “Applications are Open for the New York Barclays Accelerator, powered by Techstars,” 2 March 2015 ▲
- Yuliya Chernova, The Wall Street Journal, “Barclays and Techstars Gear Up for Fintech Accelerator,” 2 March 2015 ▲