The University of Utah’s Stena Center for Financial Technology has launched the Stena fintechXstudio, an early-stage fintech incubator and accelerator for students and recent alumni from all colleges and universities within the state of Utah.
The studio provides entrepreneurs access to advisors, office space in downtown Salt Lake City, startup funding, business services and a broad network of fintech experts to help grow their businesses. The program lasts a year, providing cohort companies the runway to iterate and grow their fintech solution. The studio is part of a broader effort to make Utah a hub for fintech excellence. The Stena Center for Financial Technology was launched in January 2023 with a total funding commitment of up to $65 million over the next 10 years.
“This incubator and accelerator will build on the success of the fintech community in Utah and will become a major hub for ongoing financial technology innovation and real economic impact,” said Steve Smith, chairman of the Stena Foundation.
“The fintechXstudio combines young entrepreneurs’ energy and creativity with deep fintech industry expertise to generate high performing fintech companies,” said Ryan Christiansen, executive director of the Stena Center for Financial Technology. “The studio is a great opportunity to accelerate innovation and place Utah at the forefront of global fintech excellence.”
The 2024 inaugural studio cohort is comprised of four companies across the fintech ecosystem, including Benji Card, a healthcare payments system; Devote, a financial platform for nonprofits; One Health +; a digital healthcare pass for access to care abroad; and Stenaverse, a fan engagement platform for college sports.