In March, Barclays and co-working space company 91springboard joined hands to partnership for the launch of “Rise in Mumbai”. Rise is a network of physical spaces and a virtual community designed to foster financial technology in various countries. It has now been made official that Zone Startups will be managing Barclays’ Rise accelerator programme. This is the 5th accelerator program being set up by Ryerson Futures under the branad name of Zone Startups.
Zone Startups India was set up in 2014, as a joint venture with the BSE Institute and Ryerson Futures Inc. Matt Saunders, Ryerson Futures President, has said in a statement:
“The partnership with Barclays reflects the growing success of our acceleration program,…As corporations look to become more innovative and entrepreneurial, our acceleration model gives them an effective way to connect with the startup ecosystem. Globally, we have been working with the corporate partners such as GE, IBM, and Deloitte. This is a great opportunity for us to work with an international bank. We have been very impressed with the quality of startups that we have been working with in India over the past two and a half years. This program we will be operating for Barclays will be a great platform for fin-tech startups.”
Over the last two the past 2 years, Zone Startups India has built up a portfolio of 78 startups, of which, close to 30 startups have gone on to raise funding former angels and venture capital funds. The recruitment for the four month long programme, will commence in early July and the first cohort will start in September. Ram Gopal, Chief Operating Officer, Barclays India said in a statement:
“Barclays is delighted to partner with Zone startups to bring our Accelerator program to our newly opened Rise site in Mumbai. This is one way we are selling to connect, co-create and scale Indian startups in the fin tech space.”