American Underground

Fidelity Investments Teams with American Underground

Fidelity Investments Teams with American Underground

Partnership brings Fidelity’s leadership in innovation to the startup ecosystem

Fidelity Investments a leading financial services provider with a large regional operation in Research Triangle Park, has teamed up with the American Underground ecosystem to offer its industry leading innovation insights and resources in an effort to help enrich and learn from the AU’s entrepreneurial  community.

 Starting immediately, Fidelity’s R&D and innovation catalyst unit called Fidelity Labs will join American Underground@Main in downtown Durham with a private office. The space will host both strategy meetings with startup leaders interested in the financial sector and Fidelity staffers working on special projects.

Additionally, leaders at Fidelity are working with American Underground’s team to develop a slate of educational programming (workshops, panels etc.) open to the more than 200 companies in the hub’s ecosystem.

“With Fidelity already in some of the country’s most entrepreneurial cities, including San Francisco and Boston, partnering with the American Underground is a natural next step,” says Duke Chang, Vice President of Product Management at Fidelity Investments and head of Fidelity Labs in Durham. “The American Underground has done a great job of bringing together a vital ecosystem that we are really looking forward to contributing to. It truly is a ‘campus’ for an entrepreneur that provides a rich and stimulating environment for entrepreneurs to flourish in.”

Fidelity established its presence in the area in 2002 and moved to its 116-acres campus in Research Triangle Park in 2013.  It employs nearly 3,400 full-time associates in North Carolina, many in technology positions.  For more than 15 years, Fidelity has been identifying and exploring emerging technologies and innovations that have the potential to impact Fidelity’s customers. Examples of recent developments from Fidelity include the first investing apps for Google Glass and Pebble watch, as well as an app for Oculus Rift that allows users to view their stock portfolios in the form of 3-D city.

 Fidelity also recently announced a dedicated incubator program, staffed by a mix of design thinkers and other Fidelity experts, with the goal of working closely with customers to solve their challenges by experimenting with ideas and pilots to form innovative solutions.

 “Both Fidelity and the American Underground are about fostering and making the most of innovation,” says Adam Klein, the startup hub’s chief strategist. “The partnership will offer our growing ecosystem of startups the strategic insights of a world class organization and, more specifically, an expert view of the vast global financial sector.”

Adds Chang, “Durham and the Triangle are attractive for a number of reasons, including the presence of world class universities and the high concentration of bright entrepreneurs. There is also a special sense of community and collaboration, a feeling that we’re all in this together.”

 

To speak with members of Fidelity Investments and the American Underground teams, please contact Billy Warden (919.412.0630) or Greg Behr (919.272.5621).

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