A new report into the Leeds City Region’s FinTech potential has confirmed that the city is laying the foundations for the future, with collaborative hubs and co-working spaces key to the success of start-ups and scale-ups in the sector.
The report by Whitecap Consulting, which highlighted a lack of hubs and workspaces dedicated to FinTech innovation, recognised that the region is building the right infrastructure to encourage collaboration and welcomed emerging innovation hubs in Leeds as great opportunities to bring higher education and industry together to accelerate business growth.
As well as outlining opportunities to strengthen the Leeds FinTech ecosystem, the report also recognised the significant difference innovation hubs, such as Nexus – a new initiative established by the University of Leeds – could make, and the important role they can play in helping to incubate entrepreneurial talents, start-ups and growing businesses.
Welcoming the findings of the report, Chelsea Hardy, who joined Nexus in October as Engagement Manager from the FinTech team at J.P. Morgan, said: “The region has many of the key components for rapid FinTech growth, with an established financial services sector and a cluster of successful and emerging technology startups. Nexus provides a vital element to a successful ecosystem – the right environment for collaborations to thrive.
“With a growing demand for businesses and academics to work together, the Whitecap report confirms our belief that specific initiatives to support collaborative ventures are key to supporting the development of the FinTech ecosystem in the Leeds City region.
“We are already working with a number of high growth technology and data-led companies and are seeing strong demand from FinTech companies for Nexus membership, which offers the opportunity to tap into the University’s world-class research capabilities and expertise. Nexus is helping to bridge the gap between technical and research expertise in the region and companies looking to leverage this expertise to accelerate growth.”
Nexus was one of a number of key organisations in the Leeds City Region to sponsor the report. Based in a brand new innovation hub on the University campus, Nexus will feature state-of-the-art facilities including office and lab space, collaboration areas, event and meeting space and a dedicated team who will be responsible for facilitating productive working partnerships and collaborations. Connecting businesses to the University’s world-class research and facilities and talent, Nexus will give businesses a competitive edge in a dynamic market.