Four early-stage companies pursuing various solutions involving digital assets, climate risk, automation and artificial intelligence will form the 2020 cohort for an accounting-focused startup accelerator sponsored by the Association of International Certified Professional Accountants (the Association) and CPA.com.
The startup accelerator, begun in 2017, is designed to promote innovation in the accounting profession and give the Association and CPA.com more visibility into disruptive trends from emerging technologies. Finalists get a nominal funding investment and guidance from a panel of experts in the profession on marketplace needs.
“Many of these early-stage companies are offering a glimpse into the transforming capabilities of the profession,” said Erik Asgeirsson, president and CEO of CPA.com. “We have a common interest in nurturing that growth and ensuring that accountants have the best access to technological innovation.” The members of this year’s group are:
- The Climate Service – The North Carolina company has developed a cloud-based solution to help companies measure, manage and disclose climate-related financial risks
- Gilded – The New Orleans company offers seamless invoicing, payments, and accounting for global businesses-powered by blockchain
- Scanye – The European company uses intelligent algorithms to automate document processing, accounting and finance management for small to medium-sized enterprises
- Tally Street – The Boston-based startup created a “virtual analyst” to help businesses boost cash flow by using accounting data to find opportunities and anticipate problems before they happen
Each accelerator company will be able to present information about their business in June at ENGAGE 2020, a leading event for the accounting profession sponsored by the American Institute of CPAs (AICPA) and the Chartered Institute of Management Accountants (CIMA).
“We’ve heard from our previous accelerator companies what a great opportunity it has been to work with some of the leading thought leaders and influencers in the profession,” said Lawson Carmichael, chief operating officer of the Association. “And the companies have offered us great insight in return.”
For more information about the startup accelerator, please visit aicpa-cima.com/accelerator.