The global accelerator is launching an application to support the corporate venture ecosystem by connecting them with the most relevant startups. The INV application aims to streamline the interactions and transactions between corporates and startups, combining CRM capabilities with project management tools and transactional capabilities.
The application will allow corporates to discover startups, exchange information with them, arrange for pilots and proof-of-concepts, and eventually, purchase services or products from them. The INV token will be the sole means to facilitate these transactions.
Around $32 billion of corporate VC transactions take place annually in the US alone, according to the National Venture Capital Association. INV Global’s’ experience in the space comes from its operation of the INV Fintech accelerator, a financial institution-focused accelerator whose partners include TIAA, U.S. Bank, Standard Bank — the largest bank in Africa — and Fiserv, one of the world’s largest financial technology companies.
INV Global’s advisory board includes Miranda Hill, director of innovation at the consultancy Thoughtworks and formerly strategic planning manager of Wells Fargo Labs; Stephane Dubois, CEO of financial data provider Xignite; and Kevin Johnson, head of Innotribe, SWIFT’s global startup initiative.
Details on the offering can be found at www.invglobal.io.