In this Feedback Statement we report on the response to our Project Innovate: Call for input – published on 11 July 2014 – and set out the next steps for Project Innovate.
Why are we publishing this paper?
Project Innovate is an FCA initiative which will help both start-ups and established businesses bring innovative ideas to financial services markets. In this paper, we:
- summarise the feedback received on our Call for input, including both written feedback and discussions held at our roundtable events
- set out our response to this feedback
- explain the next steps for Project Innovate
Who should read this paper?
Project Innovate aims to support industry innovation in both small and large businesses who are developing innovative approaches that can benefit consumers in financial services markets. The paper will be of particular interest to innovator businesses looking to find out more about how they can engage with and potentially receive support from the Innovation Hub. It will also be of interest to innovation accelerators, authorised financial services firms, representative trade bodies and consumer organisations.
Our Innovation Hub is now open for business. We have also launched a new innovation section of our website. As part of our ongoing plan of engagement with innovators, we will organise a series of events around the UK. Project Innovate and the services provided by the Innovation Hub have been designed with flexibility in mind and are intended to be dynamic. We will be continually learning from our experiences and our contacts with innovators and other stakeholders. The design, functions and processes of the Innovation Hub will be subject to review and improvement.