Citi Ventures Launches Citi® University Partnerships in Innovation & Discovery
19 January 2018 - 2:00AM
Business Wire
New program fosters collaboration and
co-creation among Citi and students studying business, design,
engineering and public policy
Citi Ventures today announced the launch of Citi® University
Partnerships in Innovation & Discovery (CUPID), a new program
that engages and embeds students from leading universities in
innovation efforts across Citi. Currently, more than 80 students
from 12 U.S. universities are receiving course credit for their
work in semester-long projects focused on emerging technologies
such as machine learning, natural language processing, and big data
analytics. CUPID leverages talent from beyond business graduate
programs to include individuals studying design, engineering and
public policy.
“We are diligently working to create a fabric of innovation
across Citi and an important part of that is interacting with a
wide array of diverse and emerging talent,” said Vanessa Colella,
Head of Citi Ventures and Citi’s Chief Innovation Officer. “While
our employees continue to test and validate new solutions that help
our clients, we want to also create a platform in partnership with
leading academic institutions where new ideas can percolate. The
energy and creativity of the students is palpable, and it’s been
incredible to work alongside them.”
The students are matched based on their interest and skill set
with internal Citi initiatives including projects within Citi’s
D10Xsm program, an internal strategic growth model managed by Citi
Ventures that enables employees to take new business ideas from
concept to launch. Grounded in the disciplines of venture capital
and Lean Startup methodology, D10X provides employees with the
opportunity to discover and validate new ideas that are at least
ten times better for clients and could potentially solve critical
pain points. We currently have more than 200 employee founders
actively working on nearly 100 internal D10X startup ideas, and
over 1,500 employees have been involved in D10X since it was
introduced two years ago by Citi Ventures.
“NYU Stern students are really responding to the opportunity to
work on these types of real-world innovation projects, and doing so
at a global bank will not only help them hone their skills in
strategy and technical product development, but also expand their
awareness of future career opportunities at Citi and beyond,” said
Jamie Tobias, Assistant Dean, NYU Stern, who oversees the School’s
Stern Solutions experiential learning projects.
Participating universities include Cornell Tech, Columbia
University Business School, Georgetown University, NYU Stern School
of Business, NYU Wagner Graduate School of Public Service, Parsons
School of Design at The New School University, The Wharton School
at the University of Pennsylvania, University of Texas at Austin
and others. Citi recently expanded its collaboration with Cornell
Tech, as the only financial institution at the Tata Innovation
Center at Cornell Tech. The new Cornell Tech campus opened in
September on Roosevelt Island in New York.
CUPID builds on existing efforts including hackathons and design
sprints to create, test and prototype new ideas that have the
potential to generate the best solutions for clients. Since the
start of this work in early 2017, more than 200 university students
from 16 different universities in the U.S, U.K and Canada have
participated in some element of innovation work through CUPID. The
program will continue and expand into 2018 through new partnerships
with additional universities.
ABOUT CITI VENTURES
Citi Ventures ignites change and reimagines solutions that drive
economic progress for clients. Headquartered in Silicon Valley with
offices in San Francisco, New York, London and Tel Aviv, Citi
Ventures accelerates discovery of new sources of value by
exploring, incubating and investing in new ideas, in partnership
with Citi colleagues, our clients, and the innovation ecosystem.
For more information visit: http://ventures.citi.com/
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version on businesswire.com: http://www.businesswire.com/news/home/20180118005795/en/
For Citi VenturesMedia:Dana Graves,
212-793-2514Dana.Graves@citi.com
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