The Massachusetts Fintech Working Group is set to launch a new FinTech innovation centre aimed at making the most of the states’ tech-heavy economy.
The Mass FinTech Hub will be unveiled as a public-private partnership that is focused on making the Bay State a global leader in the FinTech space.
The Fintech Working Group claims it has been working on the project for over a year and said it is looking to capitalise on the commonwealth’s ‘deep talent pool and reputation for innovation’.
Boston-based non-profit FinTech Sandbox will operate the hub. The hub aims to increase access to capital as well as enhancing collaboration among Massachusetts’ largest financial institutions, investors, startups, non-profits and academia.
Fintech Working Group co-chair and MassMutual head Mike Fanning commented, “There is a massive opportunity within the Massachusetts fintech ecosystem and launching the Mass Fintech Hub will help us put a coordinated and focused effort against this with the backing of relevant ecosystem leaders.
“The new effort will put considerable investment into this collaborative effort in terms of time, resources, connections and beyond. It is well-positioned to make the Commonwealth a leading market for Fintech and can empower entrepreneurs to build their businesses – and therefore bolster the economy – in the Bay State.”
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