New model designed to solve real business problems
From the creators of Startupbootcamp FinTech and Rainmaking, the global cooperative of entrepreneurs
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 remain relevant for innovation in the financial services industry, and a growing number of established players engage 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 incumbents and FinTech companies. Through careful due diligence of both startups and industry players, it will connect post-seed startups with proven technology and business models, to the right people within established organisations 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 organisation, and have engagement that will ideally lead to a commercial arrangement.”
How does Rainmaking Colab work?
- The program runs in waves throughout the year with each cycle targeting a different industry theme, working with the partners to determine the theme for each cycle. The themes allow the partners and startups to tackle specific industry problems of most importance to them.
- Focused themes allow for deeper insights into specific sectors. Areas that might be explored within the upcoming cycles include: capital markets; regulation; artificial intelligence & machine learning; identity; security; data & analytics; client onboarding and financial wellness.
- Rainmaking Colab is designed for mature markets because that’s where the corporates with the capability and experience, ready to work with startups, are based.
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.”
Maurits Lancee, investment manager Rabo Ventures & Partnerships at Rabobank, said: “We are delighted to continue our collaboration with the team of Rainmaking Colab. The FinTech ecosystems in London and New York have evolved and we believe there is a need for a model that focusses on solving real business problems and matching these with companies that have proven solutions. Rabobank will deliver the right knowledge, network and financial means to establish fruitful collaborations that will bring benefit to our customers.”
Fiona Ghosh, Head of Addleshaw Goddard's FinTech Group, said: "We are really pleased to be the exclusive European legal partner of Rainmaking Colab. This reflects culturally where we are with our FinTech expertise and the opportunity to sponsor the program allows us to build on this, working with mature FinTechs and startups to develop their business options and create real, commercially focused projects together. This is about developing existing networking opportunities into something far more meaningful and we are delighted to be working alongside a fantastic range of other sponsors to help deliver this."
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, joins as the program’s Managing Director.
For more information about Rainmaking Colab, visit: www.colab.rainmaking.io
For questions or queries about the program in general, email: firstname.lastname@example.org
About Rainmaking Colab
Rainmaking Colab is a new model for a changing market. It provides established industry players early access to relevant growth stage startups. Through a theme based innovation program based in New York and London, Rainmaking Colab is designed to equip corporates in mature markets with the capability to create engagement and solve real business problems. Created in 2017 by the founders of Rainmaking and Startupbootcamp FinTech, and powered by a global network of entrepreneurs, partners and mentors, Rainmaking Colab will bring together startups, industry leading companies, investors and mentors in a new format. For more information, visit: www.colab.rainmaking.io
Rainmaking is a global cooperative of entrepreneurs. We create positive change through entrepreneurship. We give corporates the mindset, skills and confidence to ideate, create and scale new business. We run startups and projects in over 40 countries, and every year we facilitate 1,250+ startup events with 100,000+ participants across the world. Our global network provides us with first-hand access to innovative startups and early-stage companies in every major startup ecosystem worldwide. For more information, visit: www.rainmaking.io