Franklin Templeton and EvoNexus Create Silicon Valley’s Newest Fintech Incubator
October 14 2019 - 11:00AM
Business Wire
EvoNexus, Southern California’s most successful technology
startup incubator, is pleased to announce it has expanded to
Silicon Valley with the opening of a Fintech Incubator, with
founding sponsor Franklin Templeton. The new incubator will be
housed at a 13,000 square-foot facility in San Mateo on Franklin
Templeton’s campus, about 20 miles south of San Francisco. The
Silicon Valley incubator, like the other EvoNexus locations in San
Diego and Orange County, is a non-profit organization. Startups
admitted into the Fintech program will each receive $150,000 (SAFE)
in seed funding from Franklin Templeton. The grand opening
celebration will take place on October 15th at the new
incubator.
The new Silicon Valley incubator will utilize the unique model
EvoNexus has developed over the last decade, including two years of
residency, individualized milestone-based programming, and an only
1% equity requirement from startups. Entrepreneurs are able to
leverage the 200+ venture capitalists that have already invested in
EvoNexus portfolio companies, the 50+ major corporate sponsors on
the EvoNexus board, and strong partnerships with some of the
world’s top-ranked universities. EvoNexus’ entrepreneur-first
mentality has led to over 85% of its companies receiving funding,
$1.8 billion in overall funding and outcomes, and 27
acquisitions.
“The creation of this new incubator was the fulfillment of a
shared vision from Franklin Templeton and EvoNexus that Silicon
Valley would embrace a new incubation program focused on Fintech
and Deep-Tech startups,” said EvoNexus CEO and Co-Founder Rory
Moore. “For many years, Franklin Templeton has followed the
development of incubators around the country and has selected
EvoNexus as its partner to launch an early stage innovation program
on its San Mateo campus. EvoNexus has developed an incubation
program that can now be replicated in other regions. I am
optimistic that our collaboration with Franklin Templeton and other
supporting sponsors will repeat the success that we have achieved
in Southern California.”
Joe Boerio, Chief Technology Officer, Investment Management Data
Science, Fintech & Rapid Development for Franklin Templeton,
said, “This is an exciting opportunity for Franklin Templeton.
Alongside EvoNexus, we will be working closely with promising
startups in our new purpose-built Fintech incubator facility. We
will be well positioned to leverage the best Fintech product and
services to improve business outcomes and drive growth. The
incubator will be a great source of technology building blocks that
will enable and accelerate our efforts in becoming the investment
firm of the future.”
EvoNexus and Franklin Templeton are focused on finding and
admitting Fintech startups in the following core technology areas:
artificial intelligence/machine learning, bank/wealth/payment
technology, capital markets technology, cybersecurity, blockchain,
mobile payments, P2P lending, digital cash, InsurTech, RegTech,
data science, predictive behavior analytics and key
telecommunication enablers, such as 5G, IoT and edge computing,
that will have an impact on digitization of financial transactions
and banking.
Startups that apply will be considered for admission into the
EvoNexus Fintech incubator and may be considered for collaboration
opportunities with Franklin Templeton, including early business
unit exposure, technology steering, and potential Beta customer
trials and early stage funding.
For more information, and to apply now, visit EvoNexus at
www.evonexus.org.
About Franklin Templeton
Franklin Resources, Inc. [NYSE:BEN] is a global investment
management organization operating as Franklin Templeton. Franklin
Templeton’s goal is to deliver better outcomes by providing global
and domestic investment management to retail, institutional and
sovereign wealth clients in over 170 countries. Through specialized
teams, the Company has expertise across all asset classes,
including equity, fixed income, alternatives and custom multi-asset
solutions. The Company’s more than 600 investment professionals are
supported by its integrated, worldwide team of risk management
professionals and global trading desk network. With employees in
over 30 countries, the California-based company has more than 70
years of investment experience and over $692 billion in assets
under management as of September 30, 2019. For more information,
please visit franklintempleton.com.
About EvoNexus
EvoNexus is Southern California’s leading startup incubator with
locations in San Diego, Orange County, and Silicon Valley. We
enable motivated entrepreneurs to turn their transformative
technologies into fundable, commercially viable companies. Since
2010, $1.8 billion in funding and acquisition outcomes have been
achieved by EvoNexus startups. A total of 27 EvoNexus startups have
been acquired since 2013. EvoNexus is supported by corporate
investors, including some of the largest multinational corporations
in the world. Its companies enjoy incubation of up to two years in
Class A offices and dry lab spaces. For more information, please
visit evonexus.org.
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version on businesswire.com: https://www.businesswire.com/news/home/20191014005358/en/
EvoNexus Press Contact: Rebecca Poizner rpoizner@evonexus.org +1
(408) 438-3118
Franklin Templeton Press Contact: Mara Bernstein, Prosek
Partners mbernstein@prosek.com +1 (646) 818-9278
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