Introducing Rainmaking Colab, the theme based innovation program for mature FinTech markets
New model designed to solve real business problems
London & New York, 16 November 2017 – Rainmaking Colab is a new model for a changing market. It is a theme based innovation program, created by the founders of Rainmaking and Startupbootcamp FinTech, to help industry incumbents solve real business problems.
Startups have been active players bringing innovation to the financial services industry. A growing number of established players have been engaging with startups via hackathons, accelerators, labs, and competitions. However, mature FinTech markets like New York and London are starting to experience ‘accelerator fatigue’ and require a new way of thinking to engage with the startup ecosystem.
Rainmaking Colab is designed to create meaningful engagement and the opportunity for collaborative projects between FinTech incumbents and financial corporates. The program will connect post-seed startups with proven technology and business models, to established organizations who are ready for commercial arrangements.
Rainmaking Colab is supported by industry partners including Lloyds Banking Group, Mastercard, Rabobank, and Santander, as well as Addleshaw Goddard (UK) and WilmerHale (US) as the program’s legal partners. By working together and learning as part of a trusted peer group, the partners will benefit from in-depth industry analysis around each theme, proof of concepts (PoCs), pilot projects and collaboration opportunities within the sectors of financial services most relevant to their business.
Leading FinTech influencer and ‘FinTech Fossil’, Nektarios Liolios, one of the masterminds behind the program said:
“Mature FinTech markets have been calling out for an innovation program that goes beyond matching two like-minded companies. With Rainmaking Colab, we want to push the industry and provide a model that provides even greater value for both startups and corporates. Our due diligence processes are so important – we are not a matching service. Within a set theme, our analysts will work with the startups and the corporates to really understand their needs, ensuring that the startups speak to the right people within the right part of an organization, and have an engagement that will ideally lead to a commercial arrangement.”
Jehangir Byramji, Senior FinTech Lead, Lloyds Banking Group, said:
“As an active partner in Startupbootcamp FinTech and InsurTech programs, we’re fully behind Rainmaking Colab’s ultimate aim to help financial services deliver better products and services for customers. We’re excited to be providing our expertise to support this new initiative and look forward to working closely with the FinTechs as they grow.”
Nektarios Liolios, Startupbootcamp FinTech co-founder and partner at Rainmaking, will serve as the program’s CEO and Helene Panzarino, renowned FinTech entrepreneur and former commercial banker, will join as the program’s Managing Director.
For more information about Rainmaking Colab, visit: www.colab.rainmaking.io