The MIT Sloan School of Management, one of the top business schools in the world, has recently launched a course on FinTech, which will cover a range of specific skills and encourage graduate-level students to embark on entrepreneurial ventures in this sector.
The Sloan School of Management, one of five schools that make up the Massachusetts Institute of Technology (MIT), was placed among the top 10 in the Global MBA Rankings published by the Financial Times in 2015. In addition to the quality of the teaching, the Sloan School of Management sees itself as an innovative institution. This spirit is amply illustrated by the latest move to create a special course covering all aspects of, and sub-industries within, the financial technology space. The Sloan Fintech Ventures course is the first graduate-level programme on this subject in the United States.
The course will offer graduate students the opportunity to focus on the latest tech developments in fields ranging from payments to consumer finance and digital currencies. This class is part of a major effort at Sloan to promote fintech as an entrepreneurial field. Enrolled students will be asked to work in teams to develop business plans for their own fintech ideas and compete in the new MIT FinTech Competition scheduled to take place in April this year.
The launch of this programme is highly indicative of the growing importance and popularity of innovation at the meeting point of finance and information & communication technologies. We have seen a growing number of businesses setting up in this field and a surge in valuations of fintech startups. Close to $3 billion was invested in the sector in the first quarter of 2015 alone, according to CB Insights. Quoted by Business Insider magazine, Brian Foran, a partner at Autonomous Research US, said he expected to see a number of established financial institutions testing out technology applications during 2016, which he predicts will be “a critical year” both for the incumbents and for “anti-establishment” fintech newcomers.