Barclays to Launch Tel Aviv Accelerator
October 13, 2015
Barclays has announced that it will launch an accelerator in Israel. The London-based bank joins Citigroup in deepening its investment in Israel and its dynamic startup scene. The accelerator will be housed in a facility known as Rise, one of several such sites around the globe. It is slated to open in march 2016. Each accelerator class of 10 startups will last 13 weeks with a focus on fintech and cybersecurity. The program will be run in concert with Techstars, a global network of startup accelerators. Other Barclays Accelerator locations include London, New York, and Capetown. “At Barclays we are actively embracing the opportunities and expertise of the startup ecosystem," said Derek White, Barclays chief design and digital officer. "With Rise and our Accelerator program we are able to help translate emerging technologies into what could be the future of financial services. We’re excited about the prospect of tapping into Tel Aviv’s hot-bed of innovation, connecting some of the world’s most active innovators." Israel has more than 200 startup accelerators, according to IVC Research Center.