Thomson Reuters is set to open a new innovation lab in Cape Town next week, aiming to support and partner with local technology and content driven startups and universities.
The “Thomson Reuters Labs – Cape Town” will officially open its doors on October 14 showcasing some of its early work. Going forward Thomson Reuters hopes to co-create new technologies and business models together with startups, customers, and local universities through the Labs initiative.
In particular, the Labs’ mandate is to fuel economic growth by helping to develop capital markets; enable transparency around land rights, legal systems and financial markets; help clients manage risk, compliance and regulation; connect the dots through data and analytics to effectively manage trade and supply chain decisions; and enable the transition to knowledge economies.
“Africa is such an exciting growth market for Thomson Reuters. We are looking forward to bringing the unique voice of our African customer to our innovation efforts,” says Saidah Nash Carter, senior vice president and head of innovation for Africa at Thomson Reuters.
The new Labs joins the Cape Innovation and Technology Initiative’s (CiTi) fintech cluster – launched in 2015 and housed in the Bandwidth Barn in Woodstock – which aims to attract entrepreneurs and multinationals to locate and invest in the Western Cape financial innovation sector.
“We are delighted to welcome Thomson Reuters to our fintech cluster as we believe we have shared objectives for the African continent. Our focus includes supporting innovative business and tech applications which can improve people’s lives and provide access to the modern economy. We are excited by the opportunities that this collaboration provides for us to leverage Thomson Reuters deep skills and to combine those with our own innovation and incubation initiatives,” says Ian Merrington CEO of CiTi and the Bandwidth Barn.