Corporations Looking to Startups for Innovation
- michaelsogrady
- Aug 21, 2014
- 1 min read
Wells Fargo (WFC) announced it is launching an accelerator, with the intent of mentoring startups and aiding them with resources to fuel their growth. The goal is for the bank to learn from outside innovation, which is sometimes harder to cultivate at large corporations.
Steve Ellis, who is heading up the program, said Wells Fargo intends to work closely with these companies to explore whether any of the security, biometrics, and analytics concepts could be applicable to the bank.
“Hopefully some of them will become integrated into Wells and how we deliver to our customers," he said.
Each startup participating in the bootcamp training has a specified Wells Fargo business unit interested in teaming up. For those startups, in addition to the training, and in exchange for a small stake in the company, Wells Fargo provides them with roughly $50,000-$500,000 in funding
Angie D OGrady
Cooxist
COO Executive Leadership
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