International payment and service company, Worldplay, announced that it will grant $1 million to establish a financial technology entrepreneur program at Georgia Tech’s Advanced Technology Development Center (ATDC). The company will fund a new accelerator at ATDC for the next three years, which will include hiring a FinTech expert to serve as an entrepreneur-in-residence to mentor start-ups. Worldpay executives will also mentor entrepreneurs at the center.
“As a statewide startup incubator, ATDC is always looking at the technologies that are of interest to entrepreneurs in Georgia, said ATDC Director Stephen Fleming. “Financial technology is important for us and the state because it’s a sector where Georgia is a leader.”
Last December, Worldpay announced the relocation of their U.S. headquarters to Midtown Atlanta. The company is investing more than $10 million to move more than 600 employees to the city and add an additional 600 workers over the next four years.
“As the leaders in modern money, Worldpay is creating new payments experiences for software and applications that business owners use to run their businesses smarter across all channels,” said Worldpay US President and CEO Tony Catalfano. “To sustain our competitive advantage, we must continue to innovate and attract top talent, both key drivers behind this groundbreaking partnership.”
“This gift from Worldpay will enhance the innovation ecosystem that is rapidly developing in Tech Square,” said Georgia Tech President G.P. “Bud” Peterson. “We are fulfilling our mission to create new products which will foster new companies and job opportunities for all of Georgia.”
More than 70 percent of all U.S. payments are processed in Georgia’s “Transaction Alley,” according to the American Transaction Processors Coalition. More than 60 percent of the industry’s companies are based in metro Atlanta, supporting more than 40,000 jobs in the state.