Tech startups Axyon AI, Gekko, Startup Insight and Surance will be entering ING’s Innovation Studio with the aim of launching as viable commercial businesses. This will be the third accelerator programme from Dutch bank ING, which selected the current finalists from a pool of 98 applicants.

The Innovation Studio is an open platform to experiment with new business models, where the startups can work together with mentors and ING business units to validate and build product ideas.

The four startups will each be assigned to an ING division that will sponsor them, for instance by helping them gain access to ING’s network of customers to test their product or service.

Axyon AI was started in 2016 as a spin-off to DM Digital to explore how AI technology can be applied to several business sectors. Giacomo Barigazzi, COO and co-founder, said: “We think ING is the perfect partner to work with us on a first business case of our product, as we feel people are really committed to innovation and implementation.”

Gekko created a tool that digitalises receipts and has now developed into an administration tool for small businesses. Joris Docter, CEO and co-founder, commented: “Knowing that 40 per cent of our users are ING customers, being part of ING’s accelerator program creates high hopes for successfully developing this solution.”

Startup Insight is a platform for entrepreneurs that provides insight into financial and legal matters, ranging from notary services to financial forecasting. Joris van der Steuijt, COO and co-founder, said: “Our platform is still very much in the development phase and based on blockchain technology. In the Netherlands, ING is at the forefront of this technology. We feel ING is the right partner to further develop our product to a first viable product we can test.”

Surance is an app that individuals can use to be in control of growing their capital and have access to advice that previously only a personal banker could provide. Alexandr Brouwer, CEO and founder, added: “Looking at ING’s network, the bank is a perfect partner to build on and to perfect our prototype.”

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