Detroit FinTech Bay, which plans to open its North American hub and incubator later this year in the former First Independence Bank building at 44 Michigan Avenue in downtown Detroit, today announced its first ecosystem partner is Kyyba Innovations in Farmington Hills.
In July, FinTech Consortium, a global network of financial and technology organizations, announced plans to open Detroit FinTech Bay. The FinTech Consortium is expanding its FinTech hub model after establishing centers in Bahrain and Singapore.
Kyyba Innovations is a technology innovation platform that provides entrepreneurs the environment to enable and accelerate their ventures from concept stage to reality. It also hosts the annual Detroit FinTech Challenge.
“Detroit FinTech Bay and Kyyba Innovations have entered into this partnership to support and nurture the already-budding FinTech ecosystem in Detroit,” says Maissan Almaskati, managing partner of FinTech Consortium.
“We are pleased to welcome Kyyba Innovations as the first partner of Detroit Fintech Bay and we look forward to jointly collaborating with them on strengthening the ecosystem and working together on numerous acceleration, education, and promotional initiatives designed to serve and strengthen the further rise of FinTech in Detroit.”
Partners of Detroit FinTech Bay are leading banks, insurers, lenders, payment processors, technology firms, startups, accelerators, and research institutions. In the Detroit FinTech Bay community, partners and residents will have access to a common global platform with other participants operating in multiple hub locations.
Founding partners from FinTech include Microsoft, American Express, Cisco, Xero, Amazon Web Services, and others.
“Coming out of the recent successful launch of Detroit Fintech Challenge, I find that Detroit FinTech Bay is the next logical step, and we had to be a part of it,” says Tel K. Ganesan, managing director of Kyyba Innovations and president of TiE Detroit. “I’m also excited to be part of the journey in adding FinTech as a feather to the cap of the Motor City, while contributing to the city’s rebuilding and continuous growth.”
Businesses and financial institutions interested in becoming founding or corporate partners in Detroit FinTech Bay, or in incubating new innovations, as well as startups interested in becoming residents of the coworking space can now submit an application by visiting https://www.detroitfintechbay.com/.