Northwestern Mutual, the multibillion-dollar financial services and life insurance company in Milwaukee, has launched a venture studio where it will partner with entrepreneurs in the early stages of a business venture within the financial technology and health and wellness industries.
Through the studio, entrepreneurs and inventors will collaborate with NM’s team of engineers and designers to transform the business ventures into commercialized, scalable products and services over a 12-month period.
Within health tech, NM is looking for ventures that improve access to care and help people manage their care. Within fintech, the company wants ideas centered around debt, fraud, personal security, wealth disparity and retirement.
Submissions opened May 18 and selected entrepreneurs will be notified the week of August 18. The venture studio has two application periods per year.
Those selected will receive free work space in NM’s innovation center Cream City Labs, connections to investors, including NM’s Future Ventures fund and connections to potential customers.
They’ll also be compensated to participate, though compensation and length of contract are negotiated on a case-by-case basis, according to NM.
Those interested can apply here.
