Georgia Tech’s Advanced Technology Development Center to Receive Investment from Visa for FinTech Innovation
Patrick Williams is Visa’s North American Head of Digital Partnerships.
Today, the Georgia Institute of Technology Advanced Technology Development Center (ATDC) announced a new three-year financial commitment by Visathe world leader in digital payments, to further accelerate innovation in financial and payment technologies (FinTech).
ATDC, the state of Georgia’s technology incubator, works with entrepreneurs to create and grow successful technology businesses. Its FinTech program, launched in 2015, has focused on building and growing FinTech businesses in Georgia. Since its launch, the program has evaluated more than 250 startups, has 25 companies in its current portfolio and produced a unicorn, green lighta 2018 ATDC graduate now valued at over $2 billion.
Visa’s financial sponsorship and leadership in the FinTech category will enable continued growth and start-up support for entrepreneurs in the program. As part of the sponsorship, Visa leaders will mentor program participants and build connections to maximize opportunities to bring their FinTech innovations to Visa and its partner network.
“Georgia is our country’s FinTech command center and we at ATDC are proud to partner with Visa to continue to drive innovation in this sector,” said John Avery, Director of ATDC. “We are dedicated to the continued growth and success of our FinTech ecosystem, and ATDC serving as a nexus with entrepreneurs, industry, investors, and Georgia Tech resources to help these startups thrive.”
Startups accepted into the incubator program will be integrated into Georgia’s strong FinTech ecosystem, where more than 200 FinTech companies generating $72 billion in annual revenue call home. Over 70% of all financial transactions in the United States are processed by Georgia-based payment processors.
ATDC has hired Robert E. Daniel as a FinTech enabler who will oversee the vertical, manage the pipeline and assess these startups and their innovations for acceptance into the portfolio.
“We view Atlanta as a thriving FinTech community and an epicenter of fintech expertise where Visa can become an integral part of its continued growth. Partnering with ATDC provides Visa the opportunity to get involved in supporting local startups as the future of payments continues to look bright, thanks to this world of innovative entrepreneurs,” said Patrick Williams, Head of of Visa’s digital partnerships in North America.