Future of Fintech
The New Jersey Fintech Accelerator at Stevens Institute of Technology welcomed its first cohort in fall launch.
During a visit to campus in September, New Jersey Gov. Phil Murphy officially cut the ribbon to open the New Jersey Fintech Accelerator at Stevens (NJ FAST). The project is a partnership between Stevens, the New Jersey Economic Development Authority (NJEDA), Prudential and Plug and Play, a Silicon Valley-based firm and innovation platform known for connecting startups, corporations, venture capital firms and government agencies.
NJ FAST is the fourth of New Jersey’s Strategic Innovation Centers designed to solve specific problems in new and innovative ways, and the first to focus on financial technology (fintech) and insurance technology (insuretech) startups.
“NJ FAST will allow for new entrepreneurs to bring their world-class ideas to New Jersey, increasing our state’s already impressive talent pool, all while capitalizing on the resources and expertise of our partners at Stevens Institute of Technology,” Murphy said.
Stevens brings to NJ FAST decades of expertise in financial systems technology, AI and cybersecurity. The institute’s strong presence in the fintech industry, including its leadership of the NSF-backed Center for Research toward Advancing Financial Technologies (CRAFT), positions it at the forefront of innovation.
“This event is the culmination of more than 150 years of innovation and technological progress at Stevens,” said Stevens President Nariman Farvardin. “The future of finance will be greatly impacted by the influence of technology, artificial intelligence, cybersecurity and quantum computing — all things that Stevens has played a leading role in advancing.”
Stevens and New Jersey-based financial giant Prudential will provide NJ FAST cohort companies with training and other educational, licensing and research opportunities. NJ FAST participants will have access to a wealth of Stevens resources, including the Hanlon Labs and the Center for Research toward Advancing Financial Technologies (CRAFT) — the nation’s only National Science Foundation-sponsored center dedicated to fintech. Companies will also benefit from Stevens’ prestigious alumni network, which includes executives at almost all Wall Street firms.
Faculty and students from Stevens will collaborate directly with partners and startup fintech companies, leveraging their expertise in emerging fields. Additionally, Stevens has committed to maintaining a dedicated team of student interns who will support the participating companies, enhancing both the startups’ growth and the students’ real-world experience.
“We have many students and faculty who are eager to contribute,” said Gregory Prastacos, the former dean of the Stevens School of Business who helped secure the partnership. “We’re also contributing infrastructure and data. We are committed to making NJ FAST a success.”
The 14 companies chosen by a partner vote from among the 20 vying for a place in the first cohort were: Accern; Balcony Technology Group; bckers; CurraPay; DIRO; Hydronos Lab; Intergen DATA; LexFund; Mobysign; Multimodal; Muse Tax; Physis Investment; SPIN Analytics; and Synthera.ai.