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Fintech start-ups urged to pitch for London innovation programme

24 September 2012  |  7897 views  |  0 Canary Wharf Clock

Financial technology entrepreneurs are being asked to pitch their ideas for a London-based programme that will see them get assistance and advice from executives at major banks and venture capital companies.

The FinTech Innovation Lab London is run by Accenture with financial services players, including Barclays, Deutsche Bank, Euclid Opportunities, Goldman Sachs, HSBC, RBS, UK Business Angels Association, and VocaLink.

Based on a New York programme launched two years ago, the Lab is designed to accelerate the development of technology for commercial application in the financial services industry.

Start-ups are being invited to apply for the programme online - by the beginning of November - if they have a beta version of their technology, particularly if it relates to mobile, data management, analytics, security, or social media.

Senior technology executives from the financial services firms will then pick six applicants to take part in the 12 week programme, beginning early next year, where they will get the chance to develop, test and fine-tune their innovations.

To help them do this, they will take part in workshops, panel discussions, user-group sessions, networking opportunities, one-on-one meetings and presentations with senior bank staff.

The programme culminates with an investor day presentation by all six participants in front of an audience of venture capitalists and financial industry executives.

Antony Jenkins, chief executive, Barclays, says: "The FinTech Innovation Lab London is a great step forward that will enable entrepreneurs to develop new ideas and cement London's position as a global leader in financial services and technology innovation."

Mayor of London, Boris Johnson, who has given his backing to the project, adds: "The project has huge potential to help spur jobs and growth and I'm sure will attract some very bright minds whose inventions could help to revolutionise the financial services of this great city."

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