There is no end in sight to the wave of new startup accelerators being set up in Israel. In the wake of Samsung, GE, Intel, Yahoo! and Kibbutz Revivim, now global bank Barclays has announced that it is opening an accelerator in Tel Aviv, part of its global network of Rise accelerators.
The launch comes five months after Barclays held an event in Israel to try and lure Israeli startups to its New York accelerator. Now Barclays will operate an accelerator in Tel Aviv designed for 10 startups in the fintech and cyber security fields. Each program will last 13 weeks.
Barclays said that Rise is a network of physical spaces and a virtual global community designed to pioneer the future of financial technology (fintech). The accelerators are powered by Techstars. The new site, which will open its doors in Tel Aviv in March 2016, follows the already opened London and New York Rise hubs and a future accelerator in Cape Town.
Rise Tel Aviv will provide a physical site for innovative fintech companies, offering a co-working environment, world class event spaces and meeting rooms. The new accelerator will be located on Ahad Ha’am Street, (Formerly used as Tel Aviv Stock Exchange building)
Barclays Chief Design and Digital Officer Derek White said, “At Barclays we are actively embracing the opportunities and expertise of the startup ecosystem. 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."
Barclays Israel CEO Leo Rosen said, “As the leading investment bank in Israel, we are extremely happy about launching Rise in Israel. We are highly focused on the Israeli technology investment banking opportunity, and Rise will give us the opportunity to leverage our relationships and experience to contribute to the growth of early stage fintech and cyber companies and to expand the Israeli technology ecosystem.”
The Barclays Accelerator in Tel Aviv will provide 10 companies focused on fintech and cyber security innovation with the opportunity to participate in intensive networking, mentoring and development, with the option of spending part of the programme at other Barclays Accelerator global sites. Two prior cohorts have completed the programme in London, with a further one currently underway in New York.
Techstars CEO Greg Rogers said, "This Tel Aviv program represents a milestone for us. Not only does it connect our partnership with Barclays across four continents, it is also the launch of Techstars in Israel. We are pleased to announce Liron Rose, a successful Israeli entrepreneur and investor, as Managing Director."
Entrepreneurs and startup companies from around the world can apply for the Barclays Accelerator program in Tel Aviv now at www.barclaysaccelerator.com. Applications will close on 2 January 2016 with the program beginning in March 2016. An external demo day, where the companies will be able to showcase their fintech and cyber security innovations, is scheduled for June 2016.
Published by Globes [online], Israel business news - www.globes-online.com - on October 7, 2015
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