The University of Michigan FinTech Collaboratory, of which the Center on Finance, Law & Policy is part, is collaborating with MCubed to announce new funding opportunities for University of Michigan faculty who are undertaking research, course development, or other educational programming focused on financial technology. Details, as posted on the MCubed site, are reprinted below:
Background on the University of Michigan FinTech Collaboratory:
The FinTech Collaboratory was established with a gift from Ripple, a blockchain company, to develop a broader UM FinTech research, education and a collaborative ecosystem of faculty, staff and students. The Collaboratory is comprised of the College of Engineering (Center for InfraTech Finance), the Ross School of Business' FinTech Initiative, and the Ford School of Public Policy's Center on Finance, Law & Policy.
Criteria for FinTech Incentive Funding:
The Collaboratory will provide additional support for cube teams exploring pioneering FinTech research and educational programs that are transformative, translational, and have the capacity to leverage future funding.
We welcome research or educational initiatives in areas including, but not limited to:
- Financial inclusion; financial management, savings, investment, credit or insurance; payments processing; and other financial innovations
- Transparency in supply chain management and tracking
- Tokenization and other efficient financing smart cities/infrastructure financing models
- FinTech policy and regulation issues
- Applications in healthcare, including tracking of subscriptions, clinical trial monitoring and data manipulation
- We are particularly interested in blockchain applications across disciplines, but broader fintech innovations are encouraged as well.
Who’s Eligible?
All cube teams that meet the FinTech Incentive criteria are eligible to apply for FinTech Mcubed Incentive Funding:
Classic cubes ($60K) or mini-cubes ($15K) formed in any Mcubed cycle:
- 1.0 (2012-2014)
- 2.0 (2015-2017)
- 3.0 (2018-2020)
FinTech is offering:
- Funding up to $40,000 per team (in addition to Mcubed funding ($60K Classic Cube or $15K Mini Cube)
- Access to the FinTech Collaboratory Advisory Team, experts in blockchain and cryptocurrency
- Access to the Ross Finance Lab
- Access to the College of Engineering InfraTech Center Finance Lab
- Access to a Ripple Validator
- Access to the FinTech and blockchain student clubs
Application Process
Do you have a cube that meets FinTech criteria? Go directly to InfoReady to complete the FinTech Incentive application!
If you already have a cube that meets FinTech Mcubed Incentive criteria, from any Mcubed funding cycle–1.0 (2012-2014), 2.0 (2015-2017) or 3.0 (2018-2020)– click the link above and submit required information in InfoReady.
You will be asked to supply the following:
- Project description - Include specific aims, background, significance, innovation, and methods. Most importantly, describe why this project is “pioneering work based on innovative concepts that promise high reward, major impact, and potential for major expansion."
- A transition plan that describes the strategy for follow-on funding and activities, such as the next phase of research, curriculum development, data products and/or commercialization.
- A Statement of Societal Impact that describes how this project will benefit society, and any potential negative impacts that needs to be carefully avoided.
- Faculty bios for Project owner and 2 faculty collaborators
- Estimated budget and justification
Don’t have a cube yet? Form a new Cube in the Mcubed website, then you can apply for FinTech Incentive funding.
Step 1: Login to form a cube in Mcubed 3.0 today. Click the Sign In button at the top right corner of the website, use your U-M uniqname and Kerberos password.
Step 2: Click the yellow “Create a Project” button to form a cube that meets the FinTech Incentive criteria above.
Step 3: Commit your token to the project and invite two collaborators from at least two different units to join your cube. Check the Status of All Tokens Table to see if your unit still has Mcubed funding available.
Please note: If your unit is out of tokens you may still participate as an Additional Collaborator on a cube team. However, you will need to find three eligible faculty members from units with tokens/funding available and those individuals will need to form the cube.
Step 4: Once all three faculty members have committed their tokens to the cube project, you can request your cube funding of $60K or $15K. The Mcubed team will notify you shortly to let you know if your cube has been selected to receive funding.
Once you’ve been awarded an Mcubed 3.0 cube ($60K or $15K), you must go directly to InfoReady to complete the FinTech Incentive application.
You will be asked to supply the following information:
- Project description - Include specific aims, background, significance, innovation, and methods. Most importantly, describe why this project is “pioneering work based on innovative concepts that promise high reward, major impact, and potential for major expansion”.
- A transition plan that describes the strategy for follow-on funding and activities, such as the next phase of research, curriculum development, data products and/or commercialization.
- A Statement of Societal Impact that describes how this project will benefit society, and any potential negative impacts that needs to be carefully avoided.
- Faculty bios for Project owner and 2 faculty collaborators
- Estimated budget and justification
DEADLINE:
Applications will be accepted via InfoReady through 5 p.m. Wednesday, November 20, 2019. You must have a cube to apply for Incentive funding.
FinTech Incentive awards will be announced in December 2019.
Projects are expected to begin January 2020.
Project duration is January 2020 - July 2021.
Mcubed spending requirements
FinTech Incentive questions - Contact Amy Klinke at [email protected]
Mcubed questions - Contact Wendy Palms at [email protected]