Société Générale, France’s third-largest bank, announced earlier this week the launch of its new Global Markets Incubator, which is dedicated to fintech companies that are specializing in market activities.
According to the bank, through the incubator, Societe Generale Corporate & Investment Banking (SG CIB) adopts a “pioneering approach” in incubation for start-ups specializing in market activities, while strengthening its support to the Fintech ecosystem. The selected Fintechs will benefit from SG CIB’s recognised market expertise, as well as the backing of Le Swave incubator based in La Défense, Paris.
Antoine Connault has been reportedly appointed as Head of Global Markets Incubator. He will oversee the whole project including the identification and pre-selection, the incubation phase of the Fintechs, and will oversee their development and investor relationships. Albert Loo, sponsor of Global Markets Incubator, stated:
“Offering cutting-edge and innovative solutions to address our client needs is in Societe Generale’s DNA. With this dedicated incubator, we wish to enable Fintechs specialised in financial markets to turn their ideas into innovative services.”
Edouard Plus, Director at Le Swave, the Fintech business incubator at Paris & Co., added:
“We are delighted to work with Societe Generale on this programme dedicated to financial markets. We look forward to offering the selected Fintechs our unique incubation expertise, our experience in innovation as well as our facilities to help them develop their models and services.”
Candidates can apply until November 16th. The selection process will take place during December 2018, and the six-month incubation period will begin in January 2019.