Barclays to showcase Accelerator Program in New York
Nine startups that have received equity investment from Barclays are set to showcase their fintech propositions at a demo day in New York after three months of continual product development.
The New York cohort is just one of the 11 Barclays Accelerator Programs powered by Techstars, having received over 5,000 applications across these, making it the largest single bank powered accelerator portfolio in the world.
The New York program is specifically focused on fintech, with the nine firms looking to lead innovation in digital banking and alternate investments in the aim of shaping the technology-driven financial sector.
“It’s exciting to witness the progress and growth these companies have achieved over the course of our intensive 13-week program,” said John Stecher, Group Head of Innovation, Barclays.
“Each has developed their business model, many are rapidly growing their teams, and all have defined their unique market fit. Barclays is devoted to these companies as long-term investments and is committed to providing each set of founders with a partner to help them navigate as they grow and mature their businesses.”
The companies will present their ideas to over 500 key industry professionals, outlining the key progressions that they have made during the course of the 13-week program.
The nine startups and their industry niches are listed by Barclays as follows:
- 7Chord – Predictive analytics for credit traders, powered by AI technology.
- Bild – Investing platform for sustainable assets focused on smart infrastructure & renewable energy.
- Cogni – Provides banking services for the gig and freelancer economy.
- Novo – A banking platform built for emerging businesses that saves them time and money.
- Pathspark – Empowers companies to invest in human capital with performance analytics powered by coaching insights.
- Qanta – Makes customer acquisition in financial products drastically more cost effective, leveraging proprietary AI.
- RealBlocks – Enables anyone in the world to raise or invest capital in real estate using Blockchain Smart-Contracts.
- Sigma Ratings – The world’s first AI-enabled non-credit risk rating agency.
- Synswap – Provides post-trade services for OTC derivatives using distributed ledger technology.
Ericsson: 5G will be fastest adopted mobile generation in hi
Ericsson’s June Mobility Report projects that nearly 600 million 5G subscriptions will be active by the end of 2021, making it the fastest adopted mobile generation in history.
The longer range forecast is for around 3.5 billion 5G subscriptions and 60 per cent 5G population coverage globally by the end of 2026.
China, the US, Korea, Japan and the GCC (Gulf states) will lead deployment, with Europe lagging behind. The latter got off to a slower start and has been mired in infrastructure battles over the provenance of hardware.
North East Asia is expected to lead 5G deployment with an estimated 1.4 billion subscriptions by 2026, while North America is expected to account for the highest 5G subscription penetration.
Key findings of the Ericsson Mobility Report, June 2021
5G remains on track to become the fastest adopted mobile generation in history with subscriptions increasing at a rate of about a million per day
China, North America and the Gulf Cooperation Council markets are leading the way on subscriber numbers, while Europe is off to a slow start
5G subscriptions with a 5G-capable device grew by 70 million during the first quarter of 2021 and are forecast to reach 580 million by the end of 2021
5G ready for 'advanced use cases'
Fredrik Jejdling, executive vice president and head of networks, Ericsson, said, “We are in the next phase of 5G, with accelerating roll-outs and coverage expansion in pioneer markets such as China, the USA and South Korea. Now is the time for advanced use cases to start materialising and deliver on the promise of 5G. Businesses and societies are also preparing for a post-pandemic world, with 5G-powered digitalization playing a critical role.”
Photo credit: Ericsson