Barclays announced on Tuesday the ten companies that will join the 2019 Tel Aviv Barclays Accelerator, powered by Techstars class. According to Barclays, The Barclays Accelerator is an intensive 13-week programme for fintech startups designed to help businesses accelerate their strategy and deliver breakthrough innovations.
“Participating startups will have the opportunity to collaborate with a team of Barclays executives, the Techstars worldwide network, and other industry leaders to refine and validate their business models. After three months of mentoring from leading industry professionals, the companies will highlight their progress and showcase their innovative propositions at a demo day in Tel Aviv at the culmination of the programme.”
Participating companies will also be eligible for recently launched Rise Growth Investments, new investment capital solely focused on the companies accepted into the Barclays Accelerator. The funds will allow Barclays to invest up to £10 million per Accelerator class. Mariquit Corcoran, Managing Director, Group Innovation at Barclays, stated:
“We’re thrilled to welcome the fourth Barclays Accelerator class in Tel Aviv. The programme has been extremely successful since its launch in 2014, resulting in several partnerships between Barclays and the portfolio companies. We look forward to delivering another exceptional programme in ‘start-up nation,’ while helping the ten companies take their businesses to the next level.”
Hilla Ovil Brenner, Managing Director of Tel Aviv Barclays Accelerator, powered by Techstars, added:
“We are very excited to be at the forefront of the FinTech eco-system and will be hosting 10 leading startups from various fields in the FinTech world, all coming together to create and provide forward-thinking solutions in the areas of blockchain, cyber, open banking, risk management, payments and other exciting verticals of finance-related-technologies. In recent years Tel Aviv has become the center-stage and a major hub for all things FinTech, so we promise you’ll be hearing about all the wonderful things our class will be doing very soon!”