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*NEWS: Fintech Incubator Coming to San Diego

A tech incubator with an outpost in Irvine will open a fintech incubator in San Diego.

EvoNexus, which started in SD, will launch the incubator with strategic founding sponsors, Royal Bank of Canada and Franklin Templeton . It announced the news Tuesday.

Another strategic partner is the Irvine Company, which already provides subsidized space to EvoNexus in Irvine and SD.

The incubator is expected to open its doors next month with 6,000 square feet Class A office space provided by the Irvine Company.

It will focus on tech startups in realms including machine learning, a subset of AI; bank/wealth/payment tech; capital markets; technology and cybersecurity.

“Leveraging EvoNexus’ deep corporate alliances to open the region’s first fintech incubator is important for reshaping and building sustainability in Orange County, and the entire SoCal technology innovation ecosystem,” EvoNexus CEO and co-founder Rory Moore told OC Startups Now. “Our stakehold interest in Southern California gives us close proximity to benefit from the region’s business school’s high quality MBAs and deep-tech from universities to solve difficult financial and insurance transaction problems such as cryptocurrency, blockchain and predictive behavior analytics, and more.”

He also said that the opportunities in fintech “are a mile wide and the timing is perfect to leverage 5G for enabling mobility and digitization of financial transactions.”

About Royal Bank of Canada

This global financial institution is reportedly Canada’s biggest bank, and one of the largest in the world based on market capitalization.

It has 16 million clients in Canada, the U.S. and 33 other countries.

About Franklin Templeton

Franklin Resources, with HQ in San Mateo, is a global investment management organization operating as Franklin Templeton. The company has more than 70 years of investment experience and over $714 billion in assets under management as of the end of February .

As founding sponsors, RBC and Franklin Templeton are committed to a long-term partnership with EvoNexus.

More on EvoNexus

Since 2010, $1.6 billion in funding and acquisition have been achieved by EvoNexus startups. More than 20 EvoNexus startups have been acquired since 2013.

About The Author

Deirdre Newman is a long-time journalist, who's covered OC startups for a few years.

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