After an intensive 3 month selection process, Heliocor, the emerging RegTech company based in London and Barcelona, that uses AI Blockchain and Machine learning technologies to assist financial companies in regulatory domain, was selected for the 3rd Cohort of the Ping An Cloud Accelerator, China. The “Ping An Cloud Accelerator Powered by SparkLabs” program was designed to prepare innovative technology companies with aspirations and commitment to enter the China market. The Accelerator was initiated by Ping An Group (the largest insurance company in China by market value and the 5th largest in the world) supported by the Futian Government in Shenzhen, China, and sponsored by SparkLabs, a globally renowned accelerator and venture fund. Participants receive expert advice and coaching by global thought leaders and have access to the international network of SparkLabs.
The Accelerator focuses on 5 verticals: FinTech, HealthTech, Auto Tech, Real Estate Tech and Smart City. The program is highly selective with an acceptance rate of only 3%. For this Cohort, over 550 applications were considered from 30 countries around the world, of which only 17 were chosen to join the programme. Heliocor’s transaction monitoring product – Robolitics™ – went through the rigorous evaluation process of business plan filtering, multiple rounds of video meetings, technology evaluation by teams from companies within the Ping An Group and the final selection committee evaluation.
Vikas Tripathi, Managing Director of Heliocor, commented, “We are delighted to be selected by Ping An to join their Cloud Accelerator. The programme has previously enabled emerging technology companies to rapidly accelerate their entry into the enormous financial services market in China. We look forward to working with Ping An to localise our suite of world class compliance products and build a substantial presence in China.”