Thomson Reuters, the global media giant, has launched a startup incubator in Zurich, Switzerland to host early stage entrepreneurs involved in crypto technologies.
Through the Incubators which will happen in Thomson Reuter’s labs, the startups will gain access to a variety of programs such as Thomson Reuter’s data and content sets, mentorship and networking opportunities for investment and commercialization. The full program will take place in a span of 6 months.
The official website of Thomson Reuters suggests that the incubation program is mainly focused on artificial intelligence, cognitive computing, cryptocurrency, distributed ledgers, big data, social sentiment, advanced analytics, machine readable news and automated data collection and analysis. In that regard, it is seeking startups that are FinTech, RegTech, LegalTech or NewsTech.
The company suggests that it has made a significant investment in the Thomson Reuters Lab network of which the network consists of customers, universities and startups. It is collaborating with the relevant stakeholders in order to provide solutions to the market demand using data science and lean experimentation.
According to the CTO of the Thomson Reuters Labs, the incubator is part of the corporate strategy to drive organic growth through innovation. It’s only through partnerships with startups and other market disrupters that the company will be able to meet the growing demand from customers as technology is evolving at a very fast rate.
The incubation program is still reviewing applications for the program and so far it has enrolled two Fintech startups, Open mineral and WealthArc. That’s from the official release from the company.
“The ultimate goal of the incubation program is to help startups achieve their goals and be a solution provider to the market. We hope to get valuable insight while identifying opportunities and solutions to market problems, “said the head of Thomson Reuters Labs, Mans Olof-Ors.
There are many Blockchain incubators that are also coming up and hence there are many learning opportunities for those dealing with Blockchain technology. An example is the Satoshi incubation program and the Incubation program being started by blockchain news. It is evident that blockchain startups will thrive and hence more and more industries will be able to adopt the technology.