Citi Innovation Labs & Acceleration Fund
Citi has a global network of labs that drives innovation throughout our businesses. Located across the U.S., Ireland, Israel and Singapore, Citi Innovation Labs are pioneering and testing disruptive new solutions for our customers. Citi Ventures oversees this global network of labs and manages an internal Acceleration Fund to promote rapid experimentation and discovery, particularly around the most disruptive business models and emerging technologies such as blockchain technology and cryptocurrencies, wearables, the Internet of Things, next-generation commerce and authentication.
Citi Ventures also funds proof-of-concept tests for startups, both within and outside of our Venture Investing portfolio, many of which involve partners’ solutions that, if successfully validated, progress to in-market pilots and ultimately commercialization.
Strategic partners enhance our innovation reach and agility by fostering an open ecosystem with startups, corporates, thought leaders, accelerators and leading universities like Stanford, MIT, Columbia and UC Berkeley. This ecosystem enables us to bring the outside in, join forces with Citi’s innovation efforts and deliver breakthrough technologies, solutions and experiences for our customers.
We believe user experience is critical, which is why we’re embedding leading practice UX research across our Innovation Labs. We actively partner with UX thought leaders and practitioners as well as technology companies to explore emerging areas such as wearables and biometrics, and to discover new use cases and interaction models that ultimately create next-generation experiences for Citi’s customers.
Accelerator programs have proven to be an important way for Citi to support and participate in the startup ecosystem. Citi was one of the first banks to launch a FinTech accelerator in Tel Aviv in 2013. We have since launched three classes, totaling 33 startups that graduated from the four-month program. In December 2014, Citi Ventures partnered with Plug and Play to expand our FinTech accelerator efforts across the U.S., EMEA, LATAM and APAC.