Cast-off investment bankers and other financial professionals could be re-emerging as Silicon Alley entrepreneurs under a program initiated by New York City’s Bloomberg administration.

In mid-April, participants in JumpStart NYC will attend a five-day “bootcamp” to learn how to jump from polished mahogany Wall Street firms to concrete-floor startups. After bootcamp, existing startups can take on the former finance professionals in a 10-week internship program.

Amid the near-meltdown of the global financial system and revelations about the Madoff hedge fund fraud and outsize bonuses at American International Group and other government-supported firms, investment bankers and other financial professionals have been facing intense public scrutiny. In trying to shift from clean-shaven Wall Street  to free-wheeling fledgling technology and media companies, where shaved heads and goatees abound, they are likely to encounter a cultural chasm.

JumpStart, run by the State University of New York’s Levin Institute, is designed for recently laid off workers with at least three years experience on Wall Street. JumpStart is part of a $45 million job-training initiative designed to help replace contractions in the financial services industry, which account for more than one-third of the city’s private sector payroll.

The city programs also include:
--The creation of business incubators at 160 Varick Street and 90 John Street;
--The infusion of $3 million to seed several angel funds worth about $9 million to $10 million;
--Launch a financial services business plan competition;
--Create a venture capital connect portal to provide a clearing house for entrepreneurs and startups.

In announcing the programs in February, Mayor Michael Bloomberg was joined by Tim Armstrong, Google senior vice president, who was named chief executive of Time Warner’s AOL unit earlier this month.