Ideanomics Provides Update on Fintech Village; Partner Developments
Ideanomics acquired former UConn campus in West Hartford, CT in October 2018 and has been working to formalize the numerous partner opportunities in development.
NEW YORK, Dec. 31, 2018 /PRNewswire/ -- Ideanomics (NASDAQ: IDEX) ("Ideanomics" or the "Company"), a leading global fintech and asset digitization services company, is pleased to provide an update on Fintech Village, its planned global headquarters for innovation.
Since announcing its intention to acquire the former UConn campus in July of 2018, Ideanomics has received regular partner inquiries, ranging from private businesses to colleges and universities, each of which declared an interest in participating in the Company's plans for Fintech Village in West Hartford, CT. In addition to these inquiries, Ideanomics has been in discussions to bring up to ten leading fintech companies to the area from Asia, Israel, and Europe, with the intention to establish their innovation operations within a single, collaborative campus which will be one-of-a-kind in terms of such focus.
Interest from the business and educational partners includes program collaboration efforts, IP development, and joint ventures, with interest from the fintech partners including participation in the real estate development of the site, establishing research labs with complimentary partners and services, as well as the potential for partnerships and joint ventures. The focus of partner involvement will be to provide a mix of education, use case, and application development for key industries which are positioned to benefit from Blockchain, AI, and Big Data technologies, including Banking, Insurance, Accounting, Legal, Healthcare & Medical, Supply Chain & Logistics, and more.
Additionally, several of the partner opportunities allow for Ideanomics to become sales and licensing agents for those partners who are currently not marketing their technology and services within North America, enabling a new revenue stream for the Company. Ideanomics anticipates being able to name the first of the fintech partners in the coming weeks.
Ideanomics President & COO, Alf Poor, who is also divisional President of Fintech Village, said, "While the planning for the redevelopment of the site is underway and on schedule since closing in October, we are extremely pleased to acknowledge another meaningful area of activity – the level of outreach by both private industry and the education sector, which has exceeded our expectations. This outreach, in conjunction with our own business development efforts, has demonstrated a desire from a variety of businesses to participate with Ideanomics at our planned global innovations headquarters in West Hartford, Connecticut. Fintech Village will serve as a destination for fintech innovation and education to help support the evolution of the financial services industry, as well as contribute to other key industries including Healthcare and Supply Chain. We are proud to be doing this in the front yard of the financial services sector, on the East Coast, in close proximity to Wall Street in New York, the major buy-side firms in Boston, and the Insurance and Hedge Fund industries that call Connecticut home."
About Ideanomics
Ideanomics seeks to become a leading fintech company by combining deal origination and enablement with the application of blockchain and artificial intelligence technologies as part of the next-generation of financial services.
The company is headquartered in New York, NY, and has offices in Hong Kong and Beijing, China. It also has a planned global center for Technology and Innovation in West Hartford, CT, named Fintech Village.
Safe Harbor Statement
This press release contains certain statements that may include "forward looking statements". All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties, and include statements regarding our intention to transition our business model to become a next-generation financial technology company, our business strategy and planned product offerings, our intention to phase out our oil trading and consumer electronics businesses, and potential future financial results. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of risks and uncertainties, such as risks related to: our ability to continue as a going concern; our ability to raise additional financing to meet our business requirements; the transformation of our business model; fluctuations in our operating results; strain to our personnel management, financial systems and other resources as we grow our business; our ability to attract and retain key employees and senior management; competitive pressure; our international operations; and other risks and uncertainties disclosed under the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, and similar disclosures in subsequent reports filed with the SEC, which are available on the SEC website at www.sec.gov.. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
IR Contacts
Tony Sklar, VP of Communications at Ideanomics
Email: [email protected]
www.ideanomics.com
SOURCE Ideanomics
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