India: Barclays’ Rise Accelerator which is managed by Zone Startups, has announced its first batch of ten FinTech startups.
The accelerator will provide the selected startups with access to Barclays’ technology, insight and expertise. Startups will also get dedicated access to onsite mentors and advisors and international markets through the Barclays and Zone Startups networks.
The 10 shortlisted startups include 4 startups from Bangalore (Customer XPS, Fund Expert, CrediWatch, MegDap), 2 each from Mumbai (RockMetric, Arrow AI), and Delhi (Capital Quant Solutions, Neuron), and 1 each from Chennai (FixNix) and Hyderabad (Anlytiqed).
The batch includes startups ranging from early stage to a mature product company that has raised its series A round of funding.
“Post the launch, the Rise Accelerator team and Barclays conducted roadshows across 6 cities in India and several international webinars to attract entries. After 3 months of program marketing, we received 236 applications, including several international entries,” said Ajay Ramasubramaniam, Director of Zone Startups.
A final shortlist of 10 most promising FinTech Startups have been selected for the 18-week program during which the startups will engage closely with internal stakeholders at Barclays and showcase a focused ‘Proof of Concept’ during the period.
The accelerator program will be managed by Puneet Sharma, Head of Barclays Rise Accelerator. “Getting selected into a corporate accelerator is a major validation for any startup, as it lends credibility to the problem that they are solving. In addition to this, startups get access to senior leaders and enterprise scale, that helps them build a stronger product,” he said.
The startups will be co-located at Rise Mumbai and will get an opportunity to present to investors, industry experts and strategic partners at the Rise Accelerator Demo Day scheduled for January 2017.