University receives £1.4m grant to develop fintech hub
The University of Nottingham’s Inclusive Financial Technology Hub (INFINITY) is set to undergo a significant revamp thanks to a new £1.4 million grant from Research England. This grant will enable the development of a fintech hub in the heart of the city, with the goal of nurturing the next generation of financial technology start-ups and firms. INFINITY’s mission is to bridge the gap between university-inspired research and the early-stage commercialisation of innovative ideas in the financial services sector.
Funded by Research England’s Connecting Capability fund, this initiative aligns with the broader aim of levelling up and bolstering the UK’s tech sector. The INFINITY Hub aspires to become a central focal point for Nottingham’s thriving financial services industry.
The awarded grant will facilitate the establishment of a dynamic pathway for the commercialisation of financial technology research. It will help transform early-stage research-inspired concepts into viable commercial prospects. Additionally, the hub will offer training and support to academics who are in the early stages of their commercialisation journey, addressing any barriers to their engagement in the process.
The INFINITY Hub will bring together a collaborative ecosystem involving three prominent Midlands-based universities renowned for their expertise in financial technology—Nottingham, Birmingham, and Warwick.
Located on the University’s new Castle Meadow Campus, the hub will be situated alongside Nottingham University Business School and local businesses, including KPMG, which is relocating its Nottingham office to the new campus. This co-location aims to create a unique and vibrant environment where students and businesses can collaborate, fostering creativity and innovation.
Professor John Gathergood, the co-director of INFINITY, said: “We are delighted to receive this support from Research England, which will allow us to work with businesses to develop a unique environment in which university-inspired research can be translated into next-generation financial services.”
“It is brilliant news to hear about this new grant from Research England. We hope this grant will allow the INFINITY hub to expand on its work and reinforce the university’s ties with businesses and offer great opportunities for our students in Nottingham,” said Professor Jane Norman, provost and deputy vice-chancellor at the University of Nottingham.