SPARKS programme to kickstart early-stage FinTechs launched today by Engine
A new industry-leading programme to boost early-stage FinTechs has been launched today by Engine, The Investment Association’s specialist FinTech accelerator and innovation hub for the investment management industry.
The SPARKS programme, which is open for applicants on the 1st September, helps kickstart very early-stage FinTech companies in their initial stage of growth, and combat some of the common barriers to entry these companies face when entering the market. Up to three successful applicants will benefit from a bespoke development programme and work closely with industry experts to develop their industry proposition.
Engine’s dedicated Advisory Panel Groups focusing on distribution, investments, and operation, and the broader IA Engine team, will provide ongoing feedback and guidance on the businesses’ propositions, and ultimately assist in validating the solution and its place in the market. Successful applicants will also be able to access the policy insight and expertise within the wider Investment Association via the IA Knowledge Centre and technical experts; as well as opportunities to participate and benefit from the extensive training and events programmes.
Gillian Painter, Head of Membership and Engine at the Investment Association, said: “This initiative comes at a time when staying internationally competitive is core to the future success of UK investment management. FinTech adoption among the investment management industry can help transform the complexity of these businesses and optimise how they serve their customers.
“SPARKS is looking to capture and subsequently harness the increasing interest in FinTechs from the UK investment industry. We are excited to see the wealth of talent, and use our programme to help build these pre-seed businesses into serious players in this space.”
Engine (previously branded Velocity) is the FinTech hub launched by the UK’s Investment Association (IA) in 2018.
Engine’s mission is simple: To fuel the adoption of technology within investment management, for the benefit and changing needs of clients.
We’re working with 150+ FinTech firms and partners across the investment value chain to open up tech-driven possibilities and solve the challenges faced by investment firms, both big and small.
About the Investment Association (IA):
- The IA champions UK investment management, supporting British savers, investors and businesses. Our 250 members manage £8.5 trillion of assets and the investment management industry supports 113,000 jobs across the UK.
- Our mission is to make investment better. Better for clients, so they achieve their financial goals. Better for companies, so they get the capital they need to grow. And better for the economy, so everyone prospers.
- Our purpose is to ensure investment managers are in the best possible position to:
- Build people’s resilience to financial adversity
- Help people achieve their financial aspirations
- Enable people to maintain a decent standard of living as they grow older
- Contribute to economic growth through the efficient allocation of capital.
- The money our members manage is in a wide variety of investment vehicles including authorised investment funds, pension funds and stocks and shares ISAs.
- The UK is the second largest investment management centre in the world, after the US and manages over a third (37%) of all assets managed in Europe.