Press Release 18 Jun 2015

Minister Harris and Dublin Startup Commissioner launch Citi Accelerator Hub for Fintech Startups
 
Citi Accelerator Hub to provide office space for startups

 
Dublin, Ireland: Citi, the leading global bank, has yesterday (Wednesday), along with the Minister of State at the Department of Finance, Simon Harris TD, Dublin Startup Commissioner, Niamh Bushnell, and the IDA, officially opened the Citi Accelerator Hub, an office space located in Citi for Fintech startups to work from.
 
Equipped with WiFi, video conferencing and additional office facilities, Fintech startups will also have access to Citi’s mentoring network which will be on hand to advise and support them with their business, as well as hosting industry meetups to help strengthen their network in the Fintech sector.
 
Citi’s Chief Administrative Officer and Head of the Citi Service Centre, Cecilia Ronan, said of yesterday’s launch: “Citi has been an avid supporter of the Fintech sector since opening the first Citi Innovation Lab in 2009. We now employ 400 technologists out of a total workforce of 2,500. We believe that there is a huge opportunity for early innovators and emerging startups here in Ireland to create disruptive technology that will help map the future of financial services.
 
“However, one of the biggest challenges Fintech startups face in this country, is securing city centre office space. Citi currently partners with programmes such as LaunchBox, upStart and Stemettes, and, having worked closely with these teams over the last number of months, we saw an opportunity to extend our support of this sector by refurbishing an existing office space in our North Wall Quay building to accommodate startups that need access to a state-of-the-art office space to work out of. The Citi Accelerator Hub will also give these startups access to Citi mentors who will be on hand to guide and support them as they navigate their way through setting up a new business.
 
Minister of State, Simon Harris TD, said: “Ireland has one of the most dynamic Fintech sectors around right now, but with that comes challenges. Organisations such as Citi stepping up to the mark and opening their doors to support these startups is crucially important, not just in providing the office space for them to work out of, but by also providing them with access to the Citi mentor network. We must nurture the talented young innovators we have in this country who are making an important contribution to our thriving financial services sector. Citi has led the way in supporting the development of the Fintech industry in Ireland through its Citi Innovation Lab and I look forward to working with them as we roll out the IFS 20:20 Strategy and truly revolutionise the financial services sector here in Ireland.”
 
Dublin Startup Commissioner, Niamh Bushnell, said: It's exciting to see another collaborative workspace open up in Dublin city centre and welcome the startup community in. Particularly at Citi, where the team is offering not only strong WiFi and coffee, but to share their knowledge and invest time mentoring startups based on their broad range of in-house expertise. I'd recommend the new Citi Accelerator Hub to all Fintech startups with big ambitions - and we've no shortage of those in Dublin.
 
Martin Shanahan, CEO at IDA Ireland said: “Fintech is an area that we are focusing on here at IDA Ireland – we believe Ireland can become a world centre for this industry. Citi, a company with a truly global network, is offering a great opportunity to help foster those early stage firms in this space.”  
 
For more information on how to access the Citi Acclerator Hub, please contact startups@citi.com.
 
About Citi Ireland
Citi Ireland is celebrating its 50th year in operation in Ireland this year, having been the first foreign bank to open an office in Dublin in 1965. Citi now employs 2,300 people in Ireland and is the largest employer in the IFSC (International Financial Services Centre). 
 
The company offers a broad range of financial services and products and also operates the Citi Service Centre.  The bank provides financial services and products for multinational companies, Irish companies and the government and public sector. The range of products and services include: cash management, rate risk management, (FX and interest rates), funding, investor products, corporate finance, trade services, custody, trustee services, fund administration, transfer agency, outsourcing and shareholder services.
 
About Citi
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
 
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi  | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi
 
Emma Hynes
Public Affairs Officer
Citi
1 North Wall Quay
Dublin 1
Tel: +353 (1) 622 6617
Mobile: 087 7662256
Emma.Hynes@citi.com
www.citigroup.com
 
 

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