FinTech Innovation Hub Strategic Plan

Mission

To accelerate FinTech Innovation and Education in the Delaware region, foster technological advancements and interdisciplinary collaboration to advance individual financial health and overall well-being, and translate academic scholarship into actionable insights that empower industry leaders and inform government policy to support underserved populations and communities.

Vision

Serve as a global hub of FinTech excellence, fostering cutting-edge research, education, and industry collaboration. The Hub will drive transformative FinTech innovation and create meaningful societal impact by engaging academia, industry, and regulators.

Strategic Goals

Goal 1: Research Excellence

Objective

By 2030, position the University of Delaware’s FinTech Innovation Hub as a nationally recognized leader in FinTech breakthroughs. We will achieve this by enabling collaborative research and delivering pioneering insights that empower academic institutions, industry leaders, regulators, and society at large.

Strategies

  • Recruitment: Support hiring of world-class faculty and researchers with expertise in FinTech in partnership with UD’s academic units and research centers.
  • Research: Engage in and foster specialized research groups and labs focused on FinTech-related domains.
  • Faculty Funding: Support affiliated faculty to engage in partnerships, develop research grants, and pursue corporate sponsorships that fund research initiatives at the Hub.
  • Publications: Amplify the impact of faculty publishing efforts by convening workshops and mentorship initiatives to support quality FinTech research submissions to major journals and conferences.
  • Interdisciplinary Collaboration: Promote collaboration between relevant departments at the University of Delaware and the private sector to produce scholarship at the frontier of knowledge.

Goal 2: Education Excellence

Objective

Provide high-quality and industry-focused education and training programs that serve university students and working professionals for successful careers in the evolving FinTech-related sectors.

Strategies

  • Curriculum Development: Support the development of coursework that will serve individuals at all academic and career stages, including entrepreneurship, business development, and startup management.
  • Practical Experience: Facilitate and grow internships, co-op programs, and experiential learning opportunities in collaboration with industry partners.
  • Faculty Expertise: Provide opportunities for faculty members to interact with industry partners to facilitate industry-awareness and incorporate real-world case studies with cutting edge problems into their teaching.
  • Cross-Disciplinary Programs: Encourage initiatives that span UD colleges to integrate diverse academic perspectives, ensuring a holistic FinTech education that meets the multifaceted challenges of today's industry.
  • Online Education: Expand online offerings to provide training and degrees that reach a global audience and cater to working professionals.

Goal 3: Strategic Engagement

Objective

Enhance the university’s FinTech presence by forging strategic partnerships, engaging key stakeholders, and building robust community networks.

Strategies

  • Advisory Board: Establish a FinTech advisory board consisting of industry experts, faculty experts, and government leaders to provide strategic guidance, review progress, and issue actionable recommendations.
  • Partnerships: Forge collaborations with national and international universities and FinTech institutions, to build a network that facilitates research exchange and technology advancement.
  • Convene stakeholders: Create a forum to bring together key stakeholders from academia, industry and government for the intellectual exchanges of ideas.
  • Community Engagement: Provide opportunities for community engagement through programs related to key FinTech domains (e.g., financial education), to increase financial literacy and digital empowerment.
  • Alumni Engagement and networking: Foster connections and collaborations among alumni worldwide, and build a scalable mentorship network by connecting students and faculty with experienced entrepreneurs, investors, and FinTech professionals.

Goal 4: Creativity, Innovation, and Entrepreneurship

Objective

Foster a culture of creativity, innovation, and entrepreneurship in FinTech.

Strategies

  • Incubator/Accelerator Engagement: Convene and engage existing FinTech incubators and accelerators to amplify their impact through collaborative initiatives and shared best practices.
  • Intellectual Property: Create a clearinghouse of resources to connect partners with units that assist in protecting and commercializing FinTech-related intellectual property.
  • Innovation Challenges: Facilitate competitions and showcases to spark breakthrough FinTech ideas and encourage cross-sector collaboration.
  • Entrepreneurial Support: Support mentorship and resource programs that empower emerging FinTech ventures with industry insights and targeted business development expertise.