Zone Startups, the startup acceleration program run by Ryerson Futures, announced the launch of a Mumbai-based accelerator, Rise Mumbai, in partnership with London-based multinational and banking services company Barclays.
Rise will support FinTech startups, and serve as a launch for foreign startups looking to establish a foothold in India.
“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,” said Matt Saunders, Ryerson Futures president. “We have been very impressed with the quality of startups that we have been working with in India. This program we will be operating for Barclays will be a great platform for FinTech startups.”
Rise Mumbai is the fourth accelerator launched by Ryerson Futures since 2013. In 2014, it created Zone Startups India in partnership with the Bombay Stock Exchange. Earlier this year, it launched Zone Startups Calgary with GE Canada to focus on industrial internet and energy startups, as well as a Toronto-based accelerator focused on sports and media startups.
Ryerson Futures also invests up to $100,000 in seed capital for high-potential startups and supports future fundraising activities.
“We’ve established a successful acceleration model that delivers benefits to startups looking to drive growth and companies looking for ways to be more agile and innovative,” said Saunders. “From a global perspective, it’s exciting because there is so much potential to expand”.