A new corporate accelerator and incubator program emerged from stealth mode in Raleigh on Wednesday with a new venture already launching.
Sageworks, a provider of financial, risk analysis and business valuation tools, disclosed the launch of an internal accelerator and incubator program called the Sageworks Innovation Lab.
Called I-Lab for short, it is based in Raleigh and New York., a spokesperson explains.
And I-Lab is looking for talent.
“We’re looking for individuals who want to change the financial technology landscape,” said Dominic Leali, who is director of I-Lab. “Our pods are working on ideas that will become the new standards in the finance industry.”
The Sagework lab will focus on ideas and products that fit within its mission: business analytics, data-driven business solutions and financial technology platforms.
“The I-Lab, like all of Sageworks endeavors, is aimed at developing technology solutions that make financial information and processes easier and less complicated,” Leali explained in the announcement. “When we identify talented individuals who share these values with the company, we give them the freedom, flexibility and resources that they need to really drive their products and businesses to success.”
I-Lab is the latest of a growing corporate trend in which companies break lose teams internally to develop new products or ideas – or recruit outside teams. Citrix, for example, opened its own incubator on Monday in Raleigh to seven teams with the support of Red Hat and the City of Raleigh.
But I-Lab already has a graduate: LoanSage, which evolved from Sageworks team, according to a company spokesperson.
Sean Barkulis, the director of LoanSage, said working in stealth mode at Sageworks accelerated the startup’s development. LoanSage offers a platform through which business owners can review available capital and loans up to $2 million.
“The I-Lab allowed us from day one to get the resources and support needed to get to market,” Barkulis said. “In addition, the Sageworks brand name allowed us to build partnerships, scale and grow our customer base much quicker than a standalone entity.”
Interested entrepreneurs should contact Leali (Dominic.leali@sageworks.com).
