‘Octopus Labs’ will help product-ready start-ups to hone and distribute their solutions, by providing mentoring, office space and access to Octopus Investments’ distribution channels.
Octopus will not charge any fees or take any up-front equity stakes in the business, but may decide to incorporate or work with successful participants at the end of the 12-week programme.
Richard Wazacz, head of Octopus Labs, said: “When our founders launched Octopus 16 years ago, they did so with a belief that the financial services sector was broken, that customers deserved better, and that we could deliver it.
“The world has changed dramatically for our customers since then – but our ambition hasn’t. We want to rebuild financial services the way it should be.
“We’re excited to start receiving applications – and even more excited to start supporting our selected teams on their growth journey.”
Applications for the Octopus Labs programme close on 16th September 2016, and the scheme will begin in early October.
Meanwhile, the lab will also build its own fintech solutions in-house.
Octopus Choice is the first of such products and offers peer-to-peer investments in loans sourced by Dragonfly Property Finance.
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