Finalists will showcase their products at the AICPA Engage 2018 conference in June next year.

Funded companies will operate in two areas: professional competency innovation and technology and financial information. Among the subject areas that companies may be involved in are artificial intelligence, automation of routine tasks, and the application of blockchain/digital ledgers.

"There's a compelling business case for collaboration," Lawson Carmichael, the Association's EVP for strategy, people and innovation, said in a prepared statement. 

Startups will have access to an advisor panel of leaders in the accounting technology field, who can provide coaching and mentoring.