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Friday, 3 June 2016

Flat6labs, Barclays launch fintech incubator

Closer to home on the tech scene: Flat6labs and Barclays-Egypt launched a new fintech incubator called Accelerator 1864, named after the year in which Barclays first began its operations in Egypt. The incubator will provide different types of support for entrepreneurs, including seed investments of EGP 150k, Wamda reports. “Flat6Labs will provide the training programs, workspaces, trainers and mentors for entrepreneurs, and help with technological development and legal procedures. Barclays will sponsor the acceleration programs and cover the costs of operation and training boot camps… The acceleration program is for 14 weeks, and the graduating companies will be announced on December 10. The program will accept applications in several areas of the financial sector including crowdfunding, peer to peer lending, financial services for SMEs, digital payment, digital invoicing and alternative banks.” Watch Accelerator 1864’s promotional video here (run time 01:19).

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