Seven tech startups have secured a place to participate in the EY Startup Challenge, a unique collaboration between EY and its major clients at Canary Wharf's Level39 technology accelerator. The seven startups were shortlisted following a rigorous selection process.
The Startup Challenge is aimed at finding technical solutions that enable EY's clients' to respond to the forthcoming EU General Data Protection Regulation (GDPR), particularly focusing on the "Right to be Forgotten". The GDPR will inevitably increase consumer awareness around the rights of their own data and will impact the way businesses need to deal with issues including consumer trust, compliance and operational efficiency.
The shortlisted tech startups are:
• Exonar – www.exonar.com – Exonar allows organisations to understand what information is important, where it is, and who has access to it
• Mentat Innovations – www.ment.at – Mentat is building a real time machine learning infrastructure SaaS product
• MyGravity – www.mygravity.co – MyGravity provides consumers a view of their digital self and provides companies a platform of services, products and technology to better use consumers' data
• Privately – www.privately.eu – Privately provides a platform that gives privacy to end-users by allowing them to delete social media posts from circulation
• Sedicii – www.sedicii.com – Sedicii allows identity confirmation without having to reveal personal identifiable information
• Yambina – www.yambina.com – Yambina's Enterprise Data Management provides tools for mapping data sources, applying data transformations and applying rules to data and managing exceptions
• QoiD – www.qoid.com – QoiD provides a secure method for customers to manage and control access to their information stored with someone they trust or self-host
Robert Walker, Lead Advisory Partner for EY's Technology, Media & Telecommunications Sector, said: "We have been overwhelmed by the level of applications and the calibre of tech startups that have chosen to come forward and apply for this programme. Businesses have already tolhave already told us they need access to more innovative expertise to help develop new technologies to respond to the changing regulatory landscape."
EY has designed this programme in conjunction with innovation specialists, Pivotal Innovations, based at Level39. Eric Van der Kleij, Head of Level39, Canary Wharf Group plc and Director of Pivotal Innovations, said: "As the curtain raises on The EY StartUp Challenge, we all move closer to better understanding and responding to the critical issues brought about by 'the right to be forgotten'. Each of the seven finalist companies deal with these challenges in different and innovative ways, and by working with an established firm such as EY, the growing companies will gain access to a treasure chest of contacts and resources that would have otherwise remained difficult to reach. Best of luck to all of the teams."
The EY Startup Challenge will run for six weeks beginning on 3rd November, during which the startups will each receive:
• Unprecedented access to EY clients and potential customers;
• Mentoring and guidance from senior leaders within EY and its client base;
• A curriculum of workshops sessions; and
• Access to EY's wider business, including advisory, tax, accounting and corporate finance, as well as access to EY's entrepreneurial networks.
The Challenge winner will be given the opportunity to receive a secondment of an experienced EY professional to provide ongoing, hands-on support and longer-term access to EY's network, resources and expertise.