On May 2, the New Jersey Economic Development Authority issued a Request for Information (RFI) seeking input on the creation of a physical innovation center dedicated to financial technology in New Jersey.
The RFI will gather information about whether such a facility would lead to further economic development, job growth and creation, and innovation in the Garden State. Responses are due by June 6, 2022.
“The creation of new innovation-centric spaces is an important element of Gov. Murphy’s efforts to build New Jersey’s innovation economy,” said NJEDA Chief Executive Officer Tim Sullivan. “Gathering insights into how a fintech innovation center could contribute to the economic vitality and quality of life in the State will help us identify best practices and innovative ideas for developing a successful center that makes sense for New Jersey in terms of its long-term economic competitiveness.”
The RFI also hopes to help officials better understand the opportunities and challenges associated with establishing a fintech innovation center, including market needs and gaps; potential sites and logistical considerations; information on potential projects or solutions that present the best return on investment and opportunity for sustainability; and national and international models that should be considered when developing a fintech innovation center.
The NJEDA is collecting feedback from qualified entities, including finance and insurance companies, information technology companies, suppliers within the Financial Services and Technology supply chains, post-secondary educational institutions, relevant industry or trade groups, policy and academic researchers; real estate developers; business leaders, employers, and entrepreneurs; technical assistance providers, and municipal or county governments.
All questions must be submitted in writing via email no later than 11:59 EST on May 9. Emails may be sent to FinTech@njeda.com with the subject line: QUESTIONS-2022-RFI-OET-PFS-146 New Jersey Financial Technology Innovation Center. Answers to those questions will be posted on the NJEDA’s website on May 23, 2022.