Ideanomics Provides Update on Fintech Village

Ideanomics (NASDAQ:IDEX) has provided an update on Fintech Village, its planned global headquarters for innovation, set to be built in West Hartford, Connecticut.

As quoted in the press release:

Since announcing its intention to acquire the former UConn campus in July of 2018, Ideanomics has received regular partner inquiries, ranging from private businesses to colleges and universities, each of which declared an interest in participating in the Company’s plans for Fintech Village in West Hartford, CT. In addition to these inquiries, Ideanomics has been in discussions to bring up to ten leading fintech companies to the area from Asia, Israel, and Europe, with the intention to establish their innovation operations within a single, collaborative campus which will be one-of-a-kind in terms of such focus.

Interest from the business and educational partners includes program collaboration efforts, IP development, and joint ventures, with interest from the fintech partners including participation in the real estate development of the site, establishing research labs with complimentary partners and services, as well as the potential for partnerships and joint ventures. The focus of partner involvement will be to provide a mix of education, use case, and  application development for key industries which are positioned to benefit from Blockchain, AI, and Big Data technologies, including Banking, Insurance, Accounting, Legal, Healthcare & Medical, Supply Chain & Logistics, and more.

Additionally, several of the partner opportunities allow for Ideanomics to become sales and licensing agents for those partners who are currently not marketing their technology and services within North America, enabling a new revenue stream for the Company. Ideanomics anticipates being able to name the first of the fintech partners in the coming weeks.

“While the planning for the redevelopment of the site is underway and on schedule since closing in October, we are extremely pleased to acknowledge another meaningful area of activity – the level of outreach by both private industry and the education sector, which has exceeded our expectations,” said Alf Poor, COO of Ideanomics. “This outreach, in conjunction with our own business development efforts, has demonstrated a desire from a variety of businesses to participate with Ideanomics at our planned global innovations headquarters in West Hartford, Connecticut. Fintech Village will serve as a destination for fintech innovation and education to help support the evolution of the financial services industry, as well as contribute to other key industries including Healthcare and Supply Chain. We are proud to be doing this in the front yard of the financial services sector, on the East Coast, in close proximity to Wall Street in New York, the major buy-side firms in Boston, and the Insurance and Hedge Fund industries that call Connecticut home.”

Click here for the full press release.