Scivantage and Stevens Institute of Technology said they kicked off the Scivantage FinTech Incubator Program. The initiative is a 12-week program aimed at encouraging startups to develop disruptive technology in the financial services industry. Startups could receive an investment of up to $25,000 in seed capital.
Scivantage Launches FinTech Incubator Program in Collaboration with Stevens Institute of Technology
Program to provide capital, technology and guidance for entrepreneurs and start-ups to accelerate FinTech innovation
JERSEY CITY, N.J. – May 19, 2014 – Scivantage®, a Global FinTech 100 technology provider of information-enabled software dedicated to transforming complex information and processes into intuitive user experiences for the financial services industry and Stevens Institute of Technology, a premier, private research university in Hoboken, N.J., announced today the launch of the Scivantage FinTech Incubator Program. The Scivantage FinTech Incubator Program is a 12-week program that empowers entrepreneurs and early-stage startups to develop dynamic and disruptive technology that will transform the Financial Services industry.
The Scivantage FinTech Incubator Program aims to support and accelerate the launch of next generation financial technology products, enabling entrepreneurs and early-stage startups to drive a new era of financial services innovation. Students, faculty and alumni of Stevens Institute of Technology, known for its programs in computer science and financial analytics, will be encouraged to participate. At the end of the 12-week Incubator Program, each of the selected entrepreneurs will present at the Scivantage Incubator Demo Day, where leading FinTech executives and investors will be in attendance.
Through a competitive process, promising entrepreneurs will be selected to participate in the incubator program during each cycle, with each receiving:
• An investment of up to $25,000 in seed capital
• Premier office space in Scivantage’s Jersey City, N.J., office
• Sales, marketing and design support
• Mentorship from a diverse group of seasoned FinTech executives and entrepreneurs and Stevens faculty
• The opportunity to recruit top students and alumni from Stevens Institute of Technology
“Scivantage is a leading FinTech 100 firm started by entrepreneurs, and we understand firsthand the challenges that startups face when launching a new financial technology company or product,” said Adnane Charchour, President and CEO of Scivantage. “We are looking for creative, driven entrepreneurs and/or startup companies that want to transform the FinTech industry. This program is an exciting way for financial technology entrepreneurs to leverage our years of successful experience, world-class technology platform and growing base of financial services customers in order to bring ideas to market.”
“As a firm that has been built from the ground up, we recognize the value in helping to cultivate the future leaders of our industry through our Incubator Program,” said Jim Tousignant, Executive Vice President of Sales and Business Development at Scivantage. “Participants in the program will benefit from the collaboration with Stevens Institute of Technology, including its Office of Innovation and Entrepreneurship, and more than 6,100 undergraduate and graduate students and 350 faculty members, from its School of Engineering, School of Systems and Enterprises, the School of Technology Management and the College of Arts and Letters. Participating in the Incubator Program also provides entrepreneurs with easy access to the dynamic New York/New Jersey entrepreneurial scene, as well as leading financial services and technology firms, and top venture capitalists and angel investors.”
“The spirit of entrepreneurialism is pervasive throughout the Stevens community, from our leaders to our freshman students, we breed innovation and entrepreneurship,” said Dr. Nariman Farvardin, President of Stevens Institute of Technology. “There is an extraordinary pool of local entrepreneurial talent in New York and New Jersey looking to gain a foothold in further developing their ideas and we are thrilled to collaborate with a leading technology provider such as Scivantage to accelerate technological innovation and entrepreneurship advancements in the fast growing FinTech market.”
Applications for the current cycle must be submitted by 5PM EDT on June 13, 2014, and pitch day finalists will be selected on June 20, 2014. Entrepreneurs and startups with an idea that will make a positive impact on the financial services industry can apply today. Learn more about this program at www.scivantageincubator.com.
About Scivantage FinTech Incubator
The Scivantage FinTech Incubator, offered in collaboration with Stevens Institute of Technology, is a rolling 12-week program that empowers entrepreneurs and early-stage startups to develop dynamic and disruptive technology that will transform the Financial Services industry. The program aims to support and accelerate the launch of next generation products, bringing important ideas to market. For more information, visit www.ScivantageIncubator.com .
Scivantage® is a Global FinTech 100 technology provider of information-enabled software dedicated to transforming complex information and processes into intuitive user experiences for the financial services industry. With proven expertise in online brokerage, tax and portfolio reporting, and wealth management applications, Scivantage delivers intelligent and actionable information that goes beyond the boundaries of traditional financial software, helping improve investment decisions. Leading financial institutions, including broker-dealers, mutual fund companies, bank custodians, trust and prime brokers, depend on Scivantage’s cloud-based technology to achieve critical business insights, generate new revenue and build stronger customer relationships. For more information, please visit www.scivantage.com or contact us at +1.866.724.8268.
About Stevens Institute of Technology
Stevens Institute of Technology, The Innovation University®, is a premier, private research university situated in Hoboken, N.J. overlooking the Manhattan skyline. Founded in 1870, technological innovation has been the hallmark and legacy of Stevens’ education and research programs for more than 140 years. Within the university’s three schools and one college, more than 6,100 undergraduate and graduate students collaborate with more than 350 faculty members in an interdisciplinary, student-centric, entrepreneurial environment to advance the frontiers of science and leverage technology to confront global challenges. Stevens is home to three national research centers of excellence, as well as joint research programs focused on critical industries such as healthcare, energy, finance, defense and STEM education and coastal sustainability. The university is consistently ranked among the nation’s elite for return on investment for students, career services programs, and mid-career salaries of alumni. Stevens is in the midst of implementing a 10-year strategic plan, The Future. Ours to Create., designed to further extend the Stevens legacy to create a forward-looking and far-reaching institution with global impact.