ANZ has decided to make its venture and incubation business a separate entity.
In Brief:
The new business will be called 1835i.
ANZ will fund its investments.
ANZ says the new business will act like a startup, with more speed and agility.
What does this mean?
The reasons given for the incubator and venture business being separate are so that it will not be hampered by the regulatory requirements ANZ has to abide by.
However, often ideas are developed in this kind of environment then run into regulatory problems later down the line as a bank tries to adopt them – so ANZ will have to bear this in mind and still offer guidance to the ideas it develops.
