Thomson Reuters Announces Global RegTech Competition
- FinTech StartUps
- 15.08.2019 01:50 pm
Thomson Reuters today announced a global RegTech competition designed to provide early stage start-ups in the legal, tax and regulatory space the opportunity to partner with one of the industry’s leading providers of business information services. Start-ups in these areas are invited to apply by September 9, 2019 by visiting http://www.tr.com/trregtech2019.
Entrants will need to demonstrate how their solutions help lawyers, tax and compliance professionals and/or governments solve regulatory and compliance challenges through the smart application of new technologies. Entrants will be judged on criteria that include: the market opportunity, the value proposition of their solution, technical expertise, partnership opportunities and quality of their presentation.
All finalists will be invited to present their offerings to a panel of Thomson Reuters executives in New York on October 29, 2019, to be considered for investment and/or partnership with Thomson Reuters.
“Businesses are increasingly looking to technology and automation to help navigate a rapidly evolving regulatory environment and rising costs of compliance,” said Nick Jarema, vice president, Thomson Reuters Labs. “The global RegTech market segment is expected to nearly triple in size over the next five years to US$12 billion, and we are excited to pair our data, expertise and customer relationships with the innovative spirit of the start-up community to bring solutions to market even faster.”
“This contest will give early stage companies the opportunity to work with comprehensive, structured data sets as well as domain and technology experts, which we hope will help them validate their offerings and accelerate traction amongst their customers and investors,” he continued.
The contest will provide an opportunity to collaborate with Thomson Reuters. Through the collaboration, participants may benefit from access to comprehensive data sets, a global customer footprint, partner resources and mentorship from industry and technology experts from across the organization.
- Finalists will be evaluated for investment and/or partnership with Thomson Reuters
- Finalists will have increased market visibility through publicity of this competition and co-marketing in the event of a partnership
- Qualified start-ups could gain access to some of Thomson Reuters 450,000 global customers
- Access to data and tools – including Thomson Reuters content, APIs, AWS credits and a network of data scientists
- Cash prizes
- Access to Thomson Reuters industry experts
- Must be seed or Series A
- Has product-market fit demonstrated by having at least one paying customer
- Business model must be business-to-business
- Product offering must address a regulatory-related use case that is applicable to legal professionals, tax professionals, compliance professionals, government and /or regulatory agency users
- Majority owned by founders
For additional information, including the official rules for the competition, please visit: http://www.tr.com/trregtech2019.