The Partnership for New York and Accenture (ACN) run the FinTech Innovation Lab, an annual program for startups tech startups targeting their wares at the financial sector.

"Big data" refers to the management of vast quantities of unstructured data, or information that is outside the realm of traditional databases. Examples include email messages, PowerPoint presentations, audio, video and social media information.

Cloud continues to be a big driver of tech sector growth. Earlier this year IBM (IBM) announced a $1 billion investment in a New York City-based business unit devoted to its Watson supercomputer. Headquartered at 51 Astor Place in New York's "Silicon Alley" tech hub, the Watson Group will focus on cloud-based innovation and also will help customers cope with the challenges of big data.

The company will make $100 million of its $1 billion investment available for venture investments in startups and businesses building Watson-powered apps.

-- Written by James Rogers in New York.

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