Worldpay, a leading global payments technology and services company, is furthering its goal to accelerate payments technology innovation by providing a $1 million gift and mentorship commitment to Georgia Tech’s business incubator, the Advanced Development Technology Center. As expressed by a state government official this increased support of FinTech Innovation will also bring more business to the state and encourage entrepreneurs.
The recent announcement by Worldpay and Georgia Tech officials promises that Worldpay will fully fund a new financial technology accelerator at the center for three years, which includes hiring a FinTech expert to serve as an entrepreneur and in-house mentor for start-ups, according to a university press release.
Worldpay executives will also mentor entrepreneurs at the center to provide them with payments expertise and the company’s global resources as support.
The partnership between Georgia Tech and Worldpay emphasizes Georgia Tech’s mission to expand economic development across the state.
According to the press release, more than 70 percent of all U.S. payments are processed in Georgia’s “Transaction Alley,” and more than 60 percent of the industry’s companies are based in metro Atlanta, which supports more than 40,000 jobs in the state.
The partnership announcement coincides with Worldpay’s United States headquarters recent relocation in Midtown Atlanta. Worldpay is planning to invest more than $10 million in order to bring about 600 employees to the city and bring on new employees in the coming years.
