One of the world’s largest audit firms, PricewaterhouseCoopers (PwC), pioneered a special program dubbed Startup Collider in September 2016. The much-
One of the world’s largest audit firms, PricewaterhouseCoopers (PwC), pioneered a special program dubbed Startup Collider in September 2016. The much-awaited program, which officially kicks off today, aims to support budding entrepreneurs and innovators from the Blockchain and FinTech industries.
Overview of PwC’s Startup Collider
The Startup Collider program is a brainchild of PwC CEE and it varies from other commonplace accelerators in many ways. First, all start-ups that qualify to join this program get a unique opportunity to tap into the expertise of PwC’s analysts, auditors, advisors and partners. This further gives them a platform on which to perfect and strengthen their technologies, in line with advancing global standards.
Even more important, PwC links emerging entrepreneurs with its partner firms and clients. This effectively streamlines the transition from learning to practical implementation of strategies.
This programme lasts for three-months during which the incubated startup will have the benefit of using the housing facilities of PwC located in the city of Phoenix. This common location makes it easier for advisors and mentors to interact on a one-on-one basis with startup founders. Further to that, partner companies seeking to create connections with some of the start-ups housed here find an easier avenue to kick-start fruitful business relationships. In a nutshell, this paves the way towards an ever competitive marketplace.
PwC CEE stated, “The first phase of this program will mainly involve working with start-ups that have created solutions targeted at the financial sector, where participants will get an opportunity to engage in a three-month long boot camp. At the end of this session, you will possess indepth knowledge about your target market, business plans, value propositions, regulations, client expectations and many more.”
Does PwC Restrict Startups From Pivoting Away From Their Focal Point?
At completion of the program, PwC hopes to witness the success of its start-ups as they work with top players in the industries to create products that make the world a better place. Unlike Venture Capital firms or traditional accelerators, the globally reputed audit firm gives the startups freedom to try out their innovations with its extensive clientele and partner organizations. Best of all, PwC does not limit start-ups from diverting from their initial products to other Blockchain and Fintech industries.
This valuable proposition creates an ample environment for innovators to operate. Past trends show that a good number of startups pivots away from their initial ideas and products. For instance, Circles terminated its Bitcoin trading services while itBits moved to Blockchain solutions.
While it is still too early to comment on the real impact of this exciting program, the adaptable ecosystem and friendliness offered under this package seems like a step in the right direction particularly for Blockchain and Fintech markets.