Thomson Reuters Launches Incubatorbr>
Thomson Reuters Corp., owner of Reuters News, has launched a startup incubator that will host early-stage entrepreneurs engaged in cutting-edge technologies.
Thomson Reuters Labs – The Incubator will look to extend its extensive data and content suite to groups working in such segments as big data, analytics, artificial intelligence (AI), and blockchain. The six-month program will be hosted in Zurich, Switzerland.
Thomson Reuters is seeking startups that are engaged in one of these four market verticals – FinTech, RegTech, LegalTech, and NewsTech.
As part of the official program, startups will receive access to Thomson Reuters world-class data and content sets, mentoring from experienced executives and networking opportunities for investment and commercialization.
The company said that the incubator marks the “next horizon” of its significant investment in the Thomson Reuters Labs network. The Innovation Labs collaborate with customers, universities, and startups to rapidly prototype and validate solutions using data science and lean experimentation to develop products and solutions to quickly meet evolving market demand.
The processing of applicants to the incubator is currently under way, but two participant firms have already been added to this list. Open Mineral is one of the companies, focusing on a new approach to the commodities market.
WealthArc is the second startup that has been confirmed for the incubator, targeting the investment management industry with the development of a cloud-based software-as-a-service (SaaS) platform.
“Technology is evolving at an unprecedented rate and corporations need to keep pace. Partnering with startups and other market disruptors is essential for us to be agile and responsive to our customers,” said Thomson Reuters Labs CTO Mona Vernon. “The Incubator will become an essential part of our corporate strategy to drive organic growth through innovation.”
“Our ultimate goal is to help our entrepreneurs realize their vision and get their solutions to market,” said Thomson Reuters Labs head Måns Olof-Ors. “In turn, we gain valuable insight, working with creative disruptors to identify new opportunities and ensure we are providing our clients with the most up to date trends impacting their professional markets.”