Accenture calls on start-ups to compete for places on FinTech Innovation Lab

22 Aug 2013

Accenture’s FinTech Innovation Lab, a 12-week programme where early stage tech companies are mentored by senior executives from the financial services sector, is calling on start-ups to compete for a place on the programme which culminates in a presentation to potential investors.

Hosted by Accenture at the Lab in Canary Wharf, London, six entrepreneurs will benefit from a series of panel discussions, workshops, leadership coaching and networking opportunities to help them develop and commercialise their innovations ahead of presenting their concepts to potential investors and participating industry executives.

The Lab is looking for cutting-edge technologies for the financial services sector internationally – particularly in the areas of mobile, payments, big data and analytics, security, and social media.

Dublin-based company Waratek was one of only seven participants chosen from an international pool of entrants for the inaugural programme last year. Waratek created a new technology to help companies significantly reduce their infrastructure costs by making it possible to increase the density of operation of one of the world’s most common programming languages (Java) and to transition existing applications to the cloud.

“This programme can make a big difference to the commercial success of new technologies by bringing innovators and entrepreneurs together with their potential customers,” said Richard Lumb, group chief executive-financial services at Accenture.

“This is important to Ireland, where there are lots of brilliant innovators who are striving for commercial success,” he added.

Supporters of the Lab include Bank of America, Barclays, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan Chase, Lloyds Banking Group, Morgan Stanley, RBS and UBS supported by the Mayor of London, City of London Corporation and UK Trade & Investment. Also involved are independent advisers Euclid Opportunities, the Technology Strategy Board and UK Business Angels Association.

Start-ups can apply online for a spot on FinTech Innovation Lab from now until 8 September.

Financial screen image via Shutterstock

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years