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The American Institute of CPAs and its for-profit subsidiary CPA.com will provide up to $20,000 in funding to five start-up companies. The winners will be early-stage companies that enter the selection process for the CPA.Com Startup Accelerator program.

Finalists will showcase their products at the AICPA Engage 2018 conference in June next year.

Funded companies will operate in two areas: professional competency innovation and technology and financial information. Among the subject areas that companies may be involved in are artificial intelligence, automation of routine tasks, and the application of blockchain/digital ledgers.

"There's a compelling business case for collaboration," Lawson Carmichael, the Association's EVP for strategy, people and innovation, said in a prepared statement. 

Startups will have access to an advisor panel of leaders in the accounting technology field, who can provide coaching and mentoring.

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