A new industry-leading programme to boost early-stage FinTechs has been launched 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.

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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.”

Source: IA