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By running accelerator programs, banks can benefit from the innovative solutions participating startups can bring to the table — something that's more important than ever as the coronavirus pandemic accelerates digital transformation efforts. Additionally, they get insights into various digital trends to keep tabs on the changing industry. Meanwhile, startups are provided with mentoring and guidance to develop and enhance their products and solutions.
Barclays launched its accelerator in partnership with Techstars and runs its program in New York and London. Once selected for the program, startups receive mentorship from Barclays and its partners, funding from the bank, and the potential opportunity to partner with the firm outside of the program.
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