New York and London, July 15, 2015 - Barclays today opened the doors of Rise New York, a physical space and virtual global community designed to pioneer the future offinancial technology. By the end of 2016, Barclays plans to have opened Rise hubs in North America, Europe, Africa and Asia.
In each location, Rise will provide a physical site for innovative companies, offering a co-working environment, world-class event spaces, and meeting rooms. Rise will also house the Barclays Accelerator, a 13-week program for fintech startups, run in partnership with Techstars. In addition, Rise will be a global digital network aimed at promoting online collaboration and participation in innovation challenges. Barclays' existing open innovation sites in London and Manchester (previously known as Escalators) will be rebranded as Rise locations.
Rise New York is based in the city's iconic Castro Building on 23rd Street, in the heart of Silicon Alley, and will be the home of the first New York cohort of the Barclays Accelerator. The Barclays Accelerator is a 13-week intensive startup program designed to help businesses deliver breakthrough innovations in fintech; two prior cohorts have completed the program in London.
"It is time to redefine financial services," said Michael Harte, Barclays' Chief Operations and Technology Officer. "Rise is designed to help shape the future of our industry and drive growth. We're seeking to connect the world's most active innovators to each other, to corporates, and to resources and support networks. By accelerating the development of groundbreaking products and services, we know that we can help to keep Barclays at the cutting edge of financial services, all while helping to revolutionize the industry."
The 11 companies participating in the New York cohort of the Barclays Accelerator were selected from hundreds of applications received over the past four months from companies based in 55 countries. The companies are:
" We are thrilled to build on the success of the Barclays Accelerator, powered by Techstars, in London," Jenny Fielding, Managing Director, Techstars, said. " Bringing this same focus to the U.S. will provide this new class of fintech companies with the same access to our worldwide networks in addition to providing new resources and benefits that come with being part of the Rise community in New York. "
Derek White, Barclays' Chief Design and Digital Officer added: "With Rise and the Barclays Accelerator, we are unlocking the power of open innovation. By using our collective resources, we hope to accelerate the speed of innovation in financial services, and potentially unlock significant benefits for millions of people across the globe."