India: Zone Startups will be managing Barclays’ Rise accelerator programme in Mumbai. Rise is a global fintech innovation platform that Barclays’ recently announced it would be rolling out in India.
Under this agreement, Zone Startups will manage and operate the Rise Accelerator program. This is the 5th accelerator program being set up by Ryerson Futures under the Zone Startups branding.
Zone Startups India was set up in 2014, as a joint venture with the BSE Institute and Ryerson Futures Inc. “The partnership with Barclays reflects the growing success of our acceleration program,” said Matt Saunders, Ryerson Futures President.
“As corporations look to become more innovative and entrepreneurial, our acceleration model gives them an effective way to connect with the startup ecosystem. Globally, we have been working with the corporate partners such as GE, IBM, and Deloitte. This is a great opportunity for us to work with an international bank. We have been very impressed with the quality of startups that we have been working with in India over the past two and a half years. This program we will be operating for Barclays will be a great platform for fin-tech startups.”
The recruitment process for the Rise accelerator will commence in early July and the first cohort will start in September. This would be a four month long program.
Ram Gopal, Chief Operating Officer, Barclays India said, “Barclays is delighted to partner with Zone startups to bring our Accelerator program to our newly opened Rise site in Mumbai. This is one way we are selling to connect, co-create and scale Indian startups in the fin tech space.”
Over the last two the past 2 years, Zone Startups India has built up a portfolio of 78 startups, of which, close to 30 startups have gone on to raise funding former angels and venture capital funds.
Ajay Ramasubramaniam, Director, Zone Startups said, “The past year has seen a lot of action in the fintech space. Barclays’ Rise Mumbai presents a great opportunity for the fintech startup ecosystem in the city, as well as a great soft landing pad for global fintech startups wanting to tap the opportunity in Mumbai. “