7 start-ups selected for FinTech Innovation Lab London

20 January 2015 Consultancy.uk

Early January, Accenture announced the seven companies that have been selected for the ‘Innovation Lab London’ that aims at nurturing fintech start-ups that are developing new technologies for the financial services sector. The seven companies will follow a twelve week programme during which they will be mentored by leading financial institutions. At the end, each of them will get the opportunity to present their concept to potential investors.

FinTech Innovation Lab London
The FinTech Innovation Lab London is an in 2012 launched collaboration between consulting firm Accenture and leading UK financial institutions*, supported by the Mayor of London, the City of London Corporation and Innovate UK. The Lab has been established to help fintech (financial technology) start-ups that are developing new technologies for the financial services sector with the refinement and testing of their proposition with the support of the leading financial firms. “Commercialising innovations is often the toughest challenge for entrepreneurs and that’s why it is so valuable to bring these early-stage companies together with their potential customers,” explains Richard Lumb, Group Chief Executive Financial Services at Accenture.

Accentures FinTech Innovation Lab London

Every year, seven financial technology entrepreneurs are selected to participate in the FinTech Innovation Lab London. These companies will enter a mentoring programme, hosted at Level39, during which they will work with potential future customers, perfect their propositions and gain unique insights into the banking industry. For participating banks, the Lab also offers great business opportunities, explains Lumb. “The Innovation Lab program also gives banks new exposure to the technologies they need to stay ahead. Since we launched the London Lab three years ago, the 14 companies that have passed through the program have raised more than $25 million in new investment and signed nearly 50 contracts to do business with banks.”

During the twelve weeks, the start-ups will participate in panel discussions, workshops, leadership coaching and networking opportunities. The programme will be concluded with the opportunity for the entrepreneurs to present their concepts to potential investors and participating industry executives at an investor Day, hosted at Royal Bank of Scotland on March 26, 2015.

An overview of this year’s seven selected companies:

Seven selected companies

Accenture is not the only consulting firm assisting technology start-ups through an intense mentoring programme. Recently, counterpart EY also announced the seven tech companies selected to take part in the EY Startup Challenge, set up to find technology solutions for companies to tackle data privacy issues.

* Financial institutions supporting the FinTech Innovation Lab London include Bank of America Merrill Lynch, Barclays, Citi, credit suisse, Deutsche Bank, Goldman Sachs, HSBC, Intesa Sanpaolo, JPMorgan Chase, Lloyds Banking Group, Morgan Stanley, Nationwide, RBS, Santander and UBS.

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Grey Consulting and Makerversity announce strategic partnership

05 April 2019 Consultancy.uk

Grey Consulting has forged a new alliance with Makerversity, a 500-strong community of the brightest creative innovators, headquartered at Somerset House, London. The partnership hopes to tap into the experimental community to develop pioneering solutions for Grey Consulting’s clients.

In August 2018, one of the world’s largest design agencies surprised the business world by launching a dedicated consulting outfit. The news came as the two industries continued on their trajectory towards a historic synthesis. The consulting industry has been engaged in a pitched battle with the advertising and design space for the past few years, as the former increasingly encroaches on the territory of the latter via a protracted campaign of mergers and acquisitions; but there had been little traffic moving in the other direction.

At its launch, Grey Consulting was not billed as a direct competitor to established consultancies. However, the firm behind the new entity hopes that its creative experience will give it a competitive edge in winning consulting business from its existing clients. The Grey Group is a global advertising and marketing agency with headquarters in New York City, and 432 offices in 96 countries, operating in 154 cities. Grey Consulting opened its doors with a view to aiding clients within the areas of business and brand design, innovation and digital transformations.Grey Consulting and Makerversity announce strategic partnership

Now, as the firm looks to further expand its footprint in the market, Grey Consulting has unveiled details of a ground-breaking new alliance with Makerversity, a 500-strong community of creative innovators headquartered at Somerset House, London. The alignment with Makerversity is hoped to unlock the potential of collaborating with one of the world’s most experimental communities.

Makerversity curates and convenes the best talent across product design, fashion, art and experimental architecture, sustainable materials, IoT, digital manufacturing, and coding. It provides spaces and workshops for professional makers to develop and create their work, supported by Somerset House Trust. The alliance is expected to enable Grey Consulting to develop pioneering solutions for its clients, together with innovators who make something amazing for a living, every day. 

Leo Rayman, Grey Consulting CEO, commented, “This gives our clients the potential to access a network of some of the most diverse and innovative individuals in the world today. Being so tightly connected to a community of makers means we don’t just develop transformational strategies but can quickly realise them in three dimensions. This sets Grey Consulting apart from the pure play strategy houses who are sometimes criticised for not making their thinking real at the pace modern businesses require.” 

Fiona Dent, CEO of Makerversity, added, “Makerversity acts as a catalyst for unexpected encounters, fostering collaborations between an incredible range of the brightest leading creators and innovators. Our experimental approach and engaged members, whose own practice is defining our world, create highly original new outcomes. We are delighted to bring this philosophy to a wider audience and generate interesting projects for Makerversity members through our partnership with Grey Consulting.”