Thomson Reuters (NYSE:TRI) announced the launch of Thomson Reuters Labs™ – The Incubator. Located in Switzerland, the Incubator will host early-stage entrepreneurs building next-generation products in big data, advanced analytics, distributed ledgers, artificial intelligence, machine learning and other transformational technologies. As part of the official program, startups will receive access to Thomson Reuters data and content sets, mentoring from experienced executives and networking opportunities for investment and commercialization.
The Incubator is the next horizon of the company’s significant investment in the Thomson Reuters Labs network. With locations in innovation ecosystems around the globe, 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.
Mona Vernon, Chief Technology Officer for 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 Incubator has officially enrolled two startups focused on Fintech.
Open Mineral is an early stage Swiss start-up disrupting the commodities market. The team has developed a multi-sided platform which will directly connect the mines and smelters of physical commodities such as copper, zinc and lead, increasing transparency and lowering fees.
WealthArc is a cloud-based Software-as-a-Service (SaaS) platform for the $120 trillion investment management industry offering digital client interaction and real-time new generation investment management for family offices, wealth managers and private banks. The platform handles the integration of data, consolidation of assets and digital reporting as well as a robo-advisor offering to clients.
Måns Olof-Ors, Head of Thomson Reuters Labs – Zurich Region and the Incubator added:
Our ultimate goal is to help our entrepreneurs realize their vision and get their solutions to market. 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.