TechCrunch reports that, while the accelerator investment model has been used in tandem with other strategies (by marquee names, such as Barclays), as an adjunct to “main” investment initiatives by tech firms, a London-based company is “taking a different tack.”
Octopus Investments is debuting its Octopus Labs, which will have a focus on FinTech startups, against a backdrop where the U.K. government has said it wants to see the region’s tech firms embrace more innovation, in part within mobile banking. TechCrunch stated that Octopus Labs will look to “self-build” technology to help close gaps that it perceives to exist in the marketplace.
As for the accelerator itself, the firm has said that the offerings will include a mentoring syllabus, in addition to physical office space located within London and conduits to both investments and advisement services. The firm may choose to invest in the accelerator firms, and the program itself lasts 12 weeks, starting in October.
The first “self-built” shot has come across the bow in the form of the Octopus Choice P2P lending solution.