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Thomson Labs to Focus on New Tech

Mona Vernon, Thomson ReutersThomson Reuters has established a laboratory facility to assist startups in developing products based on emerging technologies. Called Thomson Reuters Labs–The Incubator, the Switzerland-based site will host early-stage entrepreneurs and give them access to Thomson executives as mentors through a six-month program.

The company cited big data, advanced analytics, distributed ledgers, artificial intelligence and machine learning, as being among the technologies to be involved by the unit, established within the company's existing Thomson Labs.

Startups gain access to the company's data and content sets. There will also be networking opportunities for investment and commercialization, Thomson said.

"Partnering with startups and other market disruptors is essential for us to be agile and responsive to our customers" Mona Vernon, chief technology officer the Labs, said in a prepared statement. "The Incubator will become an essential part of our corporate strategy to drive organic growth through innovation."

Based in Switzerland's Zurich region, the team is reviewing additional applicants with those interested able to apply online. The Incubator has already enrolled two startups focused on financial technology:

One is Open Mineral, a Swiss company, is operating in the commodities market. Its multi-sided platform will directly connect mines and smelters of physical commodities such as copper, zinc and lead. This is expected to lead to increased transparency and lower fees.

The other, WealthArc, describes itself as "The Wealth Management Platform for Financial Advisors". It offers digital client interaction and real-time investment management for family offices, wealth managers and private banks. The platform handles the integration of data, consolidation of assets and digital reporting as well as a robo-advisor offering to clients.

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