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Barclays seeks global applicants for fintech accelerator programme

Barclays has expanded its search for the next batch of fintech stars, with startups in New York invited to apply for a seed investment and office space to bring their ideas to fruition.

The 15-week programme is being run in conjunction with Techstars and will see ten start-up companies given the chance to bring their ideas to the big stage and help to shape the future of the sector.

Applicants who are successful will receive a seed investment of £12,500 from Techstars, in return for a six per cent equity stake in the finished product, and also be provided with office space in London's Tech City to work on their ideas.

In order to increase the scope of the project, Barclays has not confined it to UK firms, and so start-ups in New York and other major hubs will also be given the opportunity to take part as the bank conducts a global recruitment round.

Applicants chosen for the first wave will each be challenged to create new apps with the use of Barclays' APIs, while receiving support from developers and designers who previously helped to create the Pingit mobile payment service.

By Tony Aynsley