Thomson Reuters is launching a new incubator in Switzerland, part of its latest push to champion the development of disruptive technologies by fintech firms and startups. More specifically, the new 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 distributed ledgers.
Access to Thomson Reuters’ data service is an invaluable resource for startups, and indeed any venue, given its depth of market focus and latitude. The group’s data resources include comprehensive market and pricing data options, as well as access to risk data, financial benchmarks, and Elektron real time.
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Data firms are invited to take part in Thomson Reuters’ six-month Lab program, which comes with a number of perks for groups. This includes free office space, mentoring from seasoned executives, and networking opportunities for investment and commercialisation. The target group is startups working in the fields of big data, analytics, AI, and distributed ledgers technology.
To date, the incubator has seen two groups join it – cloud-based SaaS platform WealthArc and Open Mineral are the inaugural entrants. Mona Vernon, CTO, Thomson Reuters Labs, commented: “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. The Incubator will become an essential part of our corporate strategy to drive organic growth through innovation.”
The launch of Thomson Reuters’ incubator in Switzerland comes a couple months after inking a strategic data agreement with S&P Global (NYSE: SPGI). Back in May, the two parties agreed to a long-term commercial relationship, which focuses on a product and data collaboration.