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Thomson Reuters launches incubator program, seeks cryptocurrency and blockchain startups

Global media giant Thomson Reuters has launched a startup incubator that will host early-stage entrepreneurs engaged in cutting-edge technologies.

Thomson Reuters Labs – The Incubator will offer an opportunity to the startups to receive access to Thomson Reuters’ data and content sets, mentoring from experienced executives, and networking opportunities for investment and commercialization. The 6-month program will be hosted in Zurich, Switzerland.

According to the official website, the technology focus areas include artificial intelligence/machine learning; cognitive computing, cryptocurrency, distributed ledgers, big data, social sentiment, advanced analytics, machine readable news, and automated data collection & analysis. Importantly, Thomson Reuters is seeking startups that are engaged in one of these four market verticals – FinTech, RegTech, LegalTech, and NewsTech.

Thomson Reuters said that the Incubator marks the “next horizon” of its significant investment in the Thomson Reuters Labs network. 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.

“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”, Mona Vernon, Chief Technology Officer for Thomson Reuters Labs, said.

According to the official release, the Incubator has officially enrolled two fintech startups – Open Mineral and WealthArc. The team is currently reviewing additional applicants for the program.

“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”, Måns Olof-Ors, Head of Thomson Reuters Labs – Zurich Region and the Incubator added.

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