Funded by Barclays, Rise is ideally positioned to take advantage of technology solutions that are not reliant on physical infrastructure. This is particularly relevant in the African context. It provides developing markets with an opportunity to leapfrog ageing analogue infrastructure, deployed in most developed economies and with it the capacity to solve some of Africa's development challenges.
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"The financial services industry is undergoing a paradigm shift and new tech start-ups are challenging traditional business models," says Ashley Veasey, Chief Information Officer of Barclays Africa. "This is possible, in principle, because advances in technology are enabling bright minds to develop solutions that compete with the best of those developed by big corporates. We aim to partner and collaborate at the forefront of this change."
In addition to the connected digital network, Rise has physical innovation hubs in London, Manchester and New York, and is set to open one in Cape Town in December. With over 5,000 start-ups interacting through the Rise London and Manchester hubs in the first year alone, over 20 hackathons being hosted and over 130 companies having made use of the global sites, Rise Cape Town is set to enable Africans to connect, co-create and scale the next big thing in financial services.
The Cape Town hub will be home to a number of open innovation programmes and includes co-working facilities, a world-class events space and a bespoke setting for the Barclays Accelerator programme.
Several Rise initiatives are already underway in Africa, namely the Tech Lab Africa programme and the Barclays Africa Supply Chain Challenge, while applications are now open to companies wanting to participate in the Barclays Accelerator, powered by Techstars.
This programme offers innovators and entrepreneurs unprecedented access to leading thinkers at Barclays and to Techstars' mentor and investor relationships across 14 locations. This latest Barclays Accelerator programme follows successful programmes in London and New York.
"The three-month intensive programme has been designed to accelerate new fintech businesses in delivering breakthrough products to market. What we're offering companies is a seat within a best-in-class accelerator programme, which in turn affords access to data, technology and intensive mentoring from industry experts and key decision makers," says Veasey
The programme will culminate in a 'Demo Day' to an audience that comprises industry leaders, serial entrepreneurs, senior executives and corporate partners.
Applications are now open until 10 January 2016 at www.barclaysaccelerator.com. The programme will begin on 28 March 2016 with the 'Demo Days' scheduled for June 2016.
