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Stone & Chalk, Westpac, and Data Republic partner to launch data accelerator FUELD

Inspired by  startup daily http://ift.tt/2xIhVkM
Alex Scandurra - Stone & Chalk
Local fintech hub Stone & Chalk has announced a partnership with Westpac and secure data exchange startup Data Republic to establish FUELD, a new accelerator program looking to match startups working in the data sphere to corporates.

Alex Scandurra, Stone & Chalk’s CEO is excited to host Murray Hurps leading the FUELD venture, a JV With AWS and Westpac-backed venture capital firm Reinventure Group.

FUELD will provide startups working with data solutions 

  • Initial funding 
  • the chance to participate in a three month intensive program, 
  • streams of Datathrough Data Republic’s platform, as well as access to anonymous data aggregated by Westpac. 
  •  matching participants with businesses or “real customers” who will be ready to pay for their solutions at launch.
  • Cross collaboration with established corporates and startups 

“Corporates have business problems, startups have business solutions, there are organisations with big customer data sets, and these players don’t ordinarily talk together. This cross-ecosystem collaboration will connect these dots, and better yet, startups will be guided by world-class mentors to rapidly develop, test and commercially launch new products,” Skundarra told start up daily 

Speaking to corporates within Australia, Scandurra said tcorpirates need to innovate or die! 

“Westpac are one of the founding partners of Stone & Chalk and it’s great to see a large Australian bank take such an open and mature approach to innovation. Other organisations can take note from this model to accelerate solutions to their business problems, because once defined, they can be solved in a matter of months – not years – then executed back into the business, and commercialised to ensure the future success of the startup,” he said.

Posted on September 4, 2017

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