Receives LaunchTN Grant Funding to Build Program Infrastructure & Statewide Network
Nashville, Tenn. (February 6, 2023) – The Nashville Entrepreneur Center (NEC), a non-profit dedicated to supporting entrepreneurs and local industry, today announced a new program, Project FinTech, to bring innovative solutions from fintech founders to the financial service sector.
“NEC has strong connections, a collaborative approach and a wealth of experience needed to lead a FinTech boom in Middle Tennessee and across the state,” said Lindsey Cox, CEO of Launch Tennessee.
According to Adroit Market Research, the size of the global fintech market was estimated at $110.59 billion in 2020 and is expected to increase at a compound annual growth rate (CAGR) of 20.5% to reach $699.50 billion by 2030.
“Given the significant scope and scale of the finance industry, coupled with a population shifting towards digitally-native generations, this is an exciting and timely opportunity,” said Jane Allen, CEO of Nashville Entrepreneur Center. “With a myriad of financial service companies and banks, plus a burgeoning tech culture, Tennessee is uniquely positioned to capitalize in this space.”
“Economic growth happens when corporations, entrepreneurs, community partners, capital investors, and academia come together to support innovation that solves complex problems and creates real value for everyone involved,” said Allen. “We are grateful for the encouragement and support from our initial partners that helped us secure this grant from Launch Tennessee”. A special thanks to those leaders who wrote initial letters of support: Fisk University, FINTOP Capital, First Bank, First Horizon Bank, JAM FINTOP, LBMC, Pinnacle National Bank, Rockmont Investments, Thread Bank , Tennessee Bankers Association (TBA), & UT Martin.
Project FinTech advocates, Lee Farabaugh and Joe Maxwell, will serve as dual Entrepreneurs-in-Residence (EIRs), championing the program and assisting to enlist mentors, startups, industry partners and resources. “As a Tennessee-based serial entrepreneur and investor, I am thrilled to work alongside Lee and the Nashville EC to harness statewide momentum and develop a hub for fintech innovation,” said Joe Maxwell, Managing Partner FINTOP Capital.
Project FinTech will officially launch later this year, starting with its first wave of programming centered on BankTech innovation. With Memphis roots and 150+ years operating within the state of Tennessee, First Horizon Bank is one of the early advocates for the initiative: “We cannot wait to see the opportunities created by this program,” noted Tyler Craft, Head of VirtualBank & Fintech at First Horizon. “Project FinTech creates a space for innovators to drive our industry forward and improve the experiences of our customers.”
Banking is only the beginning. The intersection of financial services and technology is the cornerstone of the modern economy, from small business to Fortune 500s. Project Fintech plans to expand deeper into technology for payments, wealth management, accounting, treasury, and more.
To learn more about Project FinTech and join this innovative network, visit ProjectFinTech.com or contact Anthony Ragland, SVP of Connections at Nashville Entrepreneur Center.
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About Nashville Entrepreneur Center
Nashville EntrepreneurCenter (EC) is a non-profit 501(c)(3) founded in 2010 by business leaders who wanted to support the next generation of entrepreneurs and to celebrate the spirit and tenacity of the entrepreneurial community. The EC serves as Nashville’s center for entrepreneurship, supporting visionaries—from every background, in any industry, and at all phases—by connecting them to critical resources and championing their desire to change the world. Learn more about the EC by following us @entrecenter on LinkedIn, Facebook, Twitter, Instagram, and at www.EC.co.
