Thomson Reuters has revealed its global RegTech competition designed to help early stage startups in legal, tax and regulatory space get a chance to partner with the firm.
Finalists of the competition will be invited to present their offering to a panel of Thomson Reuters executives in New York on October 29 2019, where they will be considered for investment and/or partnership with the company.
Applications need to be made by September 9.
Entrants must demonstrate how their solutions will help lawyers, tax and compliance professionals and governments solve regulatory challenges. Applicants will be judged on market opportunity, value proposition of their solution, technical expertise, partnership opportunities, and quality of their presentation.
Thomson Reuters Labs vice president Nick Jarema said, “Businesses are increasingly looking to technology and automation to help navigate a rapidly evolving regulatory environment and rising costs of compliance.
“The global RegTech market segment is expected to nearly triple in size over the next five years to US$12 billion, and we are excited to pair our data, expertise and customer relationships with the innovative spirit of the start-up community to bring solutions to market even faster.”
Last month, Reuters acquired regulatory and legal support platform HighQ for an undisclosed amount.
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