Goldman Sachs had 500 teams of employees pitch startup ideas then picked the 5 best to fund

Get the Full StoryGetty Images

In March, 500 teams of Goldman Sachs employees pitched the bank their startup ideas, according to CNBC.

The GS Accelerate program selected five winners in October to be funded by the firm. Those select teams get two years away from their previous responsibilities to build out their businesses.

The program keeps innovation all in the Goldman Sachs family.

Read more on Markets Insider.

Goldman Sachs is trying to keep innovation in the family.

In March, 500 teams of employees had the opportunity to pitch the bank startup ideas, CNBC's Hugh Son reported, citing Tanya Baker, the head of GS Accelerate, an internal program started in 2017. See the rest of the story at Business InsiderNOW WATCH: What El Chapo is really like, according to the wife of one his closest henchmanSee Also:These are the fugitives on the FBI's 10 Most Wanted list and how they got there15 signs your boss is impressed with you, even if it doesn't seem like itGOLDMAN SACHS: Buy these 11 stocks poised to surge by at least 50 within the next year