LabMorgan incubates financial technology relationships
14 August 2001 | 2843 views | 0
LabMorgan, the e-business incubator of JPMorganChase, has launched a programme to link big ticket technology vendors with its portfolio of specialist financial software companies.
The LabMorgan Networks programme is designed to create a platform for the mutual exchange of ideas and expertise between growth companies and established industry leaders including Accenture, BEA Systems, Cisco, Compaq, EMC, IBM, Oracle, Sun Microsystems and Veritas
"LabMorgan Networks is one more example of how LabMorgan is establishing a new model that breaks from past approaches to business development," says Ameet Patel, chief technology officer of LabMorgan. "It’s precisely when companies are racing to get initiatives to market that they need the know-how and resources of established players. LabMorgan Networks gives them just that. By pairing our portfolio companies with over 20 member companies who are preeminent leaders and visionaries in technology, we’re establishing channels for vital resources to flow to our portfolio companies."
The programme offers members a look at the Lab’s existing portfolio of up to 60 technology companies, as well as selected new business ventures and other opportunities that come through each member company’s pipeline. This shared-deal flow presents members with a first look at some of the hottest new technologies emerging today, says Patel.
The initiative should also give portfolio companies access to discounted hardware and software, expert advice, potential business partners and investors.
Several portfolio companies have already taken advantage of the programme.
"LabMorgan Networks has already yielded great benefits for our company, helping to build strong relationships for building out our business model and allowing us to realize significant savings to our bottom line. Thanks to the favorable pricing LabMorgan Networks has negotiated on behalf of its portfolio companies, we recently experienced six figure savings on hardware and software purchases from member companies,” says Mike Panesis, chief technology officer of WebALG, a service provider to the automotive finance industry.