Intuit Announces the Second Cohort of the Intuit Prosperity Accelerator: AI

Rhea-AI Summary

Intuit (Nasdaq: INTU) announces the launch of the second cohort of the Intuit Prosperity Accelerator: AI in Toronto. Seven AI-focused startups from major cities like San Francisco and New York will join the five-month program aimed at leveraging AI for consumer and small business solutions. This initiative follows the recent introduction of Intuit Ventures, marking an evolution in Intuit's strategy to foster innovation and support early-stage companies.

Positive

• Selection of seven innovative AI startups enhances Intuit's ecosystem.
• Partnership with Highline Beta to support early to mid-stage startups.
• Focus on addressing financial challenges for consumers and small businesses.
• Opportunity for follow-on investment from Highline Beta.

Negative

• None.

Seven AI-focused North American startups to join effort to inspire innovations that power prosperity for consumers and small businesses

TORONTO--(BUSINESS WIRE)-- Intuit (Nasdaq: INTU), the global technology platform that makes TurboTax, QuickBooks, Mint, and Credit Karma, along with Highline Beta, a venture studio and venture capital firm, today announced the second cohort of the Intuit Prosperity Accelerator^TM: AI. This announcement follows the recent launch of Intuit Ventures, further evolving the company’s strategy to drive future innovations by supporting early to mid-stage startups.

The second cohort is comprised of seven early-stage startups from top technology hubs including San Francisco, New York, Toronto and Montreal. These companies were selected based on their ability to leverage artificial intelligence (AI) to create solutions that help consumers and small businesses overcome financial challenges. Like the startups from the inaugural program in 2020, these companies share Intuit’s value of being mission-driven. Additionally, they focus on customer obsession to deliver innovative products, ideas, and results.

“The rise of AI is fundamentally reshaping our world and as global economies continue to reopen, Intuit is committed to accelerating industry innovation,” said David Marquis, Country Manager at Intuit Canada and executive sponsor of the Intuit Prosperity Accelerator. “It takes a community to tackle a big problem, which is why we’re excited to bring together this promising group of AI innovators who share Intuit’s mission of powering prosperity around the world.”

In an effort to fuel their growth and spur industry innovation, Intuit will partner with the cohort over a five-month period. We will coach them, provide product and technology expertise and connect them to Intuit’s existing consumer and small business customers.

“We’re thrilled to be teaming up with Intuit to welcome these seven innovative founders and startups to this year’s program,” said Hussam Ayyad, Chief Accelerator Officer at Highline Beta. “The cohort addresses a wide variety of pressing challenges related to marketing, customer engagement, financial audit, consumer credit building and more. We’re ready to help accelerate their growth and amplify their impact.“

Meet the Cohort:

Adaptive Pulse (Waterloo, ON) helps businesses keep a pulse on every customer while predicting and prioritizing their retention efforts, reducing churn and increasing revenues.

Aphrodite (San Francisco, CA) is a plug-n-play data analytics platform intended to help users drive revenue by providing financial clarity and data-driven insights to small businesses.

Bankuish (New York, NY) is a marketplace that provides gig workers and freelancers a simple way to access affordable banking.

Beam.city Inc (Toronto, ON) is an advertising automation platform that helps businesses optimize their performance and skyrocket profits automatically.

Boom (New York, NY) is on a mission to level the playing field for the 110 million renters in the US by making housing more flexible, affordable, and attainable.

QuoteMachine (Montreal, QC) is a software that brings humans back to digital commerce by helping independent retailers close more deals through simplified and personalized sales processes.

Stamped AI (Quebec City, QC) is an AI platform that streamlines and automates accounting data certification, making small businesses year-end ready, all year round.

The Intuit Prosperity Accelerator: AI is a five-month-long initiative, in which the selected startups will work with Intuit and Highline Beta teams to identify and test growth opportunities using Intuit’s design thinking methodology, Design for Delight (D4D). The cohort will also have access to an exclusive network of mentors, investors and founders as well as the opportunity for follow-on investment from Highline Beta.

For more information on the program, visit: www.intuit.com/ca/prosperity-accelerator.

About Intuit: Intuit is a global technology platform that helps our customers and communities overcome their most important financial challenges. Serving approximately 100 million customers worldwide with TurboTax, QuickBooks, Mint and Credit Karma, we believe that everyone should have the opportunity to prosper. We never stop working to find new, innovative ways to make that possible. Please visit us for the latest information about Intuit, our products and services, and find us on social.

About Highline Beta: Highline Beta is a venture studio and venture capital firm helping big companies grow outside of their core through organic venture development and inorganic startup partnerships. Highline Beta is Intuit’s partner in the Intuit Prosperity Accelerator. Highline Beta designs, executes, and oversees the program, as well as advises on the selection of startups to participate. Learn more at Highline Beta.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211014005329/en/

Nora Hickey, Edelman Canada (for Intuit)

nora.hickey@edelman.com

705-772-6672

Source: Intuit Inc.

FAQ

What is the Intuit Prosperity Accelerator: AI program?

It is a five-month initiative that partners Intuit with seven AI-focused startups to address financial challenges for consumers and small businesses.

When was the second cohort of the Intuit Prosperity Accelerator announced?

The second cohort was announced on October 14, 2021.

Which cities are represented in the second cohort of the Intuit Prosperity Accelerator?

The cohort includes startups from San Francisco, New York, Toronto, and Montreal.

What types of challenges do the startups in the cohort aim to address?

The startups focus on marketing, customer engagement, financial audit, and consumer credit building.

Who is partnering with Intuit for the Prosperity Accelerator?

Intuit is collaborating with Highline Beta, a venture studio and capital firm.