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Barclays Africa's RISE incubator kicks off

Rise is a global community for open innovation designed to pioneer the future of financial services. Already open in New York, London and Manchester, Rise has been created by Barclays to plug start- ups, corporates and innovators into a global network that will connect, co-create and scale innovation.

The opening of the Rise Innovation Hub in Cape Town was the 1st hub of its kind to be opened in Africa. In Africa, Barclays is looking at developing satellite hubs in Kenya and Mauritius. Globally, Israel and Lithuania are scheduled to open hubs in H1 2016.

“Locating the Rise Innovation Hub in the Mother City ensured that we are able to attract the best talent and ideas to our formal accelerator programmes, as well as offering a great working space (for free) to those fin-tech innovators looking for a place to develop the next big thing,” a Barclays representative said.

Rise provides physical sites and a global digital platform for innovative companies to access Barclays’ resources, partners and 325 years of trusted expertise and, on 10 December 2015, we will be officially launching the first of these physical sites in Cape Town, South Africa.

The financial services landscape, like many other sectors, has experienced significant disruption in recent times. Barclays said customers and clients are increasingly demanding innovative solutions – that is, great ideas translated into measurable benefits.

The financial services sector will have to deliver exponentially better solutions at exponentially faster speeds.

“We are changing the way in which we think and operate to optimise the potential for innovation. We increasingly see ourselves as part of an ecosystem that comprises customers, clients, suppliers, entrepreneurs, rivals and other large corporates to name a few.”

“In areas of products and services where we don’t lead, our approach is to connect and collaborate with others in our ecosystem to ensure that we offer the best of what is available.”

“Through our international Rise programme, we are plugging start-ups, corporates and innovators into a physical and digital global network in order to connect, co-create and scale the ‘next big thing’ in financial services.”

Rise is a global community for open innovation and a platform for co-creation that will pioneer new fintech.

“We believe that by connecting and collaborating more with people and companies in our ecosystem, we will be able to deliver better solutions, ultimately helping our customers and clients to achieve their ambitions in the right way.”

The most recent Rise Global Innovation Hub to have launched was in New York on 15 July. By the end of 2016, Barclays plans of have opened Rise hubs in North America, Europe, Africa and Asia.

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