Thursday 31 January – Media Release
Tech Entrepreneurs to Accelerate at Level39, Canary Wharf
FinTech Innovation Lab London becomes first occupier of Europe’s largest ‘FinTech’ accelerator space
Level39 at Canary Wharf, Europe’s largest FinTech accelerator space, has become the first London venue to host the FinTech Innovation Lab London (www.fintechinnovationlablondon.co.uk). While the accelerator space’s full range of facilities are due for completion and launch in March this year; part of the space has been made available for the inaugural FinTech Innovation Lab London programme, which is now underway.
Seven of the best technology entrepreneurs have been competitively selected to develop, test and fine-tune their innovations during the 12-week programme. The selected entrepreneurs are taking part in a series of workshops, user-group sessions and networking opportunities, all of which will take place at Level39, under the guidance and mentorship of top executives from some of the world’s leading financial institutions and investors.
The seven start-ups – chosen by leading industry executives from a large field of applicants from the UK and internationally – include: BehavioSec, Calltrunk, Digital Shadows, Growth Intelligence, Kiboo, Open Bank Project and Waratek. Their innovations range from cloud development tools and “Big Data” security and analysis applications, to search engines for voice recordings, “behavioural biometric” solutions for fighting fraud, open source technologies, and personal financial management tools for young people.
The FinTech Innovation Lab London is a collaboration between Accenture and leading financial institutions in London, the City of London Corporation and the Technology Strategy Board. It provides senior level mentoring for entrepreneurs to help them develop and commercialise their innovations, and connect with potential customers at top institutions.
Level39, announced by Canary Wharf Group on 1 October 2012, is located on the entire 39th floor of the iconic One Canada Square tower. The specially-designed facility provides sophisticated office and social spaces for small businesses, incubators and accelerator programmes to create, test, market and deliver the next generation of financial technology products and services. Level39 aims to link London’s growing technology scene with Canary Wharf’s existing financial and professional services community. In so doing it aims to improve the transparency, competitiveness and client services of London’s financial services sector and complement existing clusters in the City-fringe, South Bank and West End.
Eric Van Der Kleij, Head of the Level39 Accelerator at Canary Wharf Group, said: “Level39 has been designed to accommodate the world’s best accelerator programmes, helping develop the right kind of financial technology innovation. It is terrific to welcome FinTech Innovation Lab London as our first occupier, prior to our full launch. The objective of Level39 is to fuse together the technology and financial worlds to help the financial services sector to transform, enhancing London’s position as the digital and financial capital of Europe.”
Richard Lumb, Group Chief Executive-Financial Services at Accenture, said: “Level39 is an ideal home for the FinTech Innovation Lab London in that it connects London’s burgeoning technology scene with Canary Wharf’s longstanding financial and professional services community. Its highly specialised physical platform is an excellent environment for developing, testing and marketing new financial technologies. London is already recognised as the centre for FinTech in Europe and we aim to enhance its position by helping commercialise new innovations and strengthening the venture network that exists here.”
For further information, please contact:
Canary Wharf Group plc
T: +44 (0)20 7418 2326
T: +44 (0)20 7269 9361
NOTES TO EDITORS:
1. About the FinTech Innovation Lab London Participants
2013 FinTech Innovation Lab London participants:
• BehavioSec. Based in Sweden, BehavioSec has developed a “behavioural biometric” software platform that helps confirm desktop, website or mobile users’ identities by analysing the unique patterns in how they type, click and swipe on their computers and mobile devices. It offers companies an additional layer of security beyond conventional usernames and passwords to help fight fraud.
• Calltrunk. UK-based Calltrunk has created a cost-efficient call-recording solution that provides a search engine allowing users to do text searches of audio, such as recordings from call centres, videos, lectures and conference calls. By making the review and management of recordings as simple as searching through email archives, it can help companies improve customer service, compliance, productivity and operational efficiencies.
• Digital Shadows. The UK-based company offers a cyber-monitoring service to help identify and monitor companies’ so-called “digital footprints” – information posted online by organisations and employees that amasses over time via social media, cloud services and mobile devices. The platform can give companies an outside-in view of their digital presence and help address potential security vulnerabilities.
• Growth Intelligence. UK-based Growth Intelligence provides companies with timely sales-leads, helps improve portfolio and risk management and informs marketing strategies. Nearly all companies release digital information on the web; Growth Intelligence interprets that information using predictive analytics to deliver real-time intelligence on the activity and performance of companies throughout the economy.
• Kiboo. US-based Kiboo has developed a personal financial management platform geared for young adults from the age of 13. It positions the company’s insights about younger generations’ habits and expectations at the centre of its communications. The platform provides online and mobile tools, including social networking features, to help users learn about finance, earn money through savings, work and investments, and save, spend and give more effectively.
• Open Bank Project. Created by Berlin, Germany-based TESOBE, the Open Bank Project is an open source Application Programming Interface (API) and management platform for the banking industry that enables banks and third-party developers to more rapidly and cost-effectively deliver tailored applications and services to their customers. For example, TESOBE has used the platform to develop a “social finance” application for banks that helps clients, such as non-profits, be more financially transparent by reporting transactions to outside stakeholders.
• Waratek. Dublin, Ireland-based Waratek has created a new technology that could help companies significantly reduce their infrastructure costs. It makes it possible to use one of the world’s most common programming languages (Java) to develop cloud-based applications and to transition existing applications to the cloud. By increasing the amount of Java applications that can run on a single server – through a new form of “Java virtualization” – it can dramatically reduce infrastructure costs, lower development costs and promote cloud usage, helping institutions build and improve key areas like online and mobile services more quickly and efficiently.
2. About Level39 at Canary Wharf
Level 39 is a sophisticated accelerator, social and event space that occupies the entire 29,000 sq. ft. 39th floor of iconic One Canada Square in Canary Wharf, the UK’s tallest operational office building.
The initiative is led by Eric Van Der Kleij, FinTech entrepreneur at Adeptra and former Chief Executive Officer of Tech City Investment Organisation.
Level39’s layout has been designed in ‘tech industry’ style by renowned architects Gensler, who have worked on some of the world’s most exciting workspaces including offices for Facebook and Google. Work is already underway to transform the space, which will include:
• A modern reception area visually reflecting the technological innovation taking place at Canary Wharf and further afield
• An exclusive set of ‘sandboxes’ which will enable accelerator programmes, software engineers and builders of financial services platforms to refine, test and showcase their financial technology products in a safe, ring-fenced environment
• An express elevator with the 39th floor as the first stop
• A ‘Unique Technology Tunnel’ leading to the event space, capable of showing live data and incorporating interactive technology, allowing visitors to engage with thought provoking ideas and content prepared by Level39 companies
• A new 200 seat event space to host regular industry events and demonstration days with impressive views over the City of London
• The Level39 Business Club Lounge, which will host a membership-style club attracting leading industry figures and investors
• A growth-phase zone for businesses experiencing rapid expansion, making it easier to meet potential clients and partners, investors, mentors and other entrepreneurs. This will include an open plan kitchen.
• Semi-open and open-plan office areas to service the needs of early-stage and growth phase businesses
3. The Canary Wharf technology, media and telecommunications (TMT) community
TMT sector occupiers already employ 7,000 at Canary Wharf and range from innovative financial technology companies and IT consultancy businesses, to advertising and media groups and business information providers. TMT companies at Canary Wharf include:
TMT companies at Canary Wharf include: Citihub
Oracle Financial Services Instinet
Ogilvy & Mather
A business IT company has recently opened its Experience Centre at its Canary Wharf offices at 10 Upper Bank Street. The Experience Centre is a showcase for new software for this company’s clients and prospective clients.
Canary Wharf tenants like Citihub, Instinet and Ricoh are providers of high-frequency and event-driven trading platforms which are driving innovation in the financial services sector.
Jane Moran, Chief Information Officer of Canary Wharf-based Thomson Reuters, was recently named one of the 10 most powerful women in the tech sector.
Canary Wharf Group recently launched Wired Wharf, a social network for the technology, media and telecomms community in Canary Wharf and beyond
LinkedIn — Wired Wharf: http://www.linkedin.com/profile/view?id=190607602&trk=tab_pro
LinkedIn — Wired Wharf Community: http://linkd.in/Mb5dzS
4. About Canary Wharf Group plc
Canary Wharf Group plc is an integrated property development, investment and management group of companies. Canary Wharf has a working population of 100,000 people in a diverse range of sectors for some of the world’s leading companies. It has paved the way for the regeneration of London’s Docklands and one in five Canary Wharf workers now lives in a local East London borough. It has helped London and the City consolidate its position at the centre of the business world.
Following the announcement to build a new headquarters for the European Medicines Agency at 25 Churchill Place, the Group has plans in place to continue to develop Canary Wharf in the coming years. This will be in parallel with other central London developments such as the Shell Centre on the South Bank (in a joint venture with Qatari Diar) and 20 Fenchurch Street in the City of London (in a joint venture with Land Securities). The Group is currently constructing the Canary Wharf Crossrail station ahead of schedule and on budget, which is ready to receive the Crossrail tunnel boring machines in 2013.
www.canarywharf.com Twitter: @yourcanarywharf
5. About Accenture
Accenture is a global management consulting, technology services and outsourcing company, with more than 259,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US $27.9 billion for the fiscal year ended Aug. 31, 2012. Its home page is www.accenture.com