Accelerator programme launches for data-centric start-ups
Scheme wants 10 start-ups for 10-week programme
A new accelerator programme is seeking start-ups focusing on data and CRM technology.
Investment firms L Marks and Winton have partnered to form the accelerator programme, Winton Labs, looking to work with up to 10 start-ups over a 10-week period in which they will provide mentoring, training, legal counsel and advice on subjects such as accounting and marketing.
While part of the scheme, start-ups will be based out of Winton's offices in west London, where they will have access to company executives and other industry figures.
Owen McCormack, a director at Winton Venture, said: "The challenge with having a great idea for many entrepreneurs is taking it from concept to product, or from an initial product to a thriving and scalable business. Our accelerator programme aims to match these innovators with the industry players that have had years of experience and to connect these promising enterprises to the real marketplace."
The accelerator will work with start-ups specialising in data, data visualisation, CRM, compliance and regulation.
While entrepreneurs will not have to give up any equity to take part in the programme, after completing the programme, start-ups may have the opportunity to receive funding from Winton in exchange for equity, as well as a chance to partner with the company.
"At Winton, we have built a global investment business based on applying the scientific method to the study of data," McCormack said. "We believe that we can apply this experience to investing in companies whose business models are predicated on data analysis and [we] are active investors committed to the long-term success of the businesses in which we invest.
"To that end, our investment is more than just early stage funding, so we are delighted to be one of the first investment businesses in the UK to provide tangible, practical support to some of the most innovative young businesses being developed today."
The application process for Winton Labs runs from 28 January until 21 February, and applicants will subsequently pitch their ideas on 22 March. A short-list of up to ten companies will then be announced on 25 March.
Stuart Marks, chairman at L Marks, added: "Winton is offering a fantastic opportunity for start-ups in data and analytics to really immerse themselves within a leading global investment company. Not only are they offering free office space in a great central location within a buzzing entrepreneurial environment, but there will be a structured programme of workshops, seminars and mentoring to help them develop their business.
"We are excited about working with Winton on Winton Labs and helping them find some great start-ups to work with."