Capital One launches tech accelerator for financial sector start-ups
Capital One is to launch a tech accelerator for early-stage start-up businesses. The credit card company will be launching the Capital One Growth Labs in Nottingham in partnership with L Marks, which brings together established businesses and growing companies.
According to Capital One, the hub will “shape the future of finance”, supporting start-ups in the financial sector to help them develop innovative technologies.
The accelerator will be providing a ten-week programme for businesses, and is currently looking for companies in categories such as security and fraud prevention, unstructured data insight and money management tools.
The company will select 25 applicants, who will pitch their ideas on 6th July. Six finalists will then be chosen to take part in the programme, with an investor pitch finale taking place in August.
Successful companies will be provided with mentoring from experts within the company and the tech industry. The mentoring will focus on areas such as industry advice, growth strategy and customer testing, and there will be team leaders to guide businesses through the different categories.
Applications for the programme are now being accepted, and businesses have until 12th June to apply.
L Marks Chairman Stuart Marks commented on the programme, stating: “It’s very difficult for start-ups working in or with the financial services industry to navigate its complex regulatory environment.”
He added that Capital One Growth Labs will give companies “dedicated business support focused on education, strategy and partnership”, which are “all essential to becoming successful in this field.”