A new building dedicated to financial technologies is coming to the Delaware Technology Park on the University of Delaware’s STAR Campus.
"Part of the purpose of the building will be to do events, conferences things like that," said Mike Bowman, President and CEO of Delaware Technology Park.
Cinnaire, a non-profit financial partner, is providing a $9 million New Markets Tax Credit allocated to the Delaware Technology Park.
The cost for the full project is $39 million, and it is expected to serve a hub for Delaware’s financial Technology Industry.
Bowman says some of UD’s colleges will be housed there.
"So the College of Business and the College of Engineering both will have competencies of the highest order in this building co-mingling to do new developments produce new students, new entrepreneurs, and new software," Bowman said.
And Bowman explains what else will be in the FinTech building.
"The other half of the building is really designed for more or less what we call incubation of startup companies, also the office of Economic Innovation Partnerships of the University which includes Tech transfers, the Small Business Development Center, government contracting advice. All of that will be in the building as well."
Construction on the 100,000 square-foot FinTech building started about a month ago, and it’s scheduled to be completed in November 2021.