London-based investment company L Marks announced Nov. 3 that it had teamed with the city of Jacksonville, Paysafe and the University of North Florida as the founding partners for JAX Hub, an initiative designed to accelerate financial innovation and attract global investment to northeast Florida.
A news release from L Marks said JAX Hub builds on the efforts of the British Department of Business and Trade through the United Kingdom-Florida Memorandum of Understanding on Trade and Economic Cooperation signed in 2023 to expand trade and innovation ties.
An outcome of that partnership, the initiative is designed to connect Jacksonville’s financial services ecosystem with global innovators “to pilot and scale innovative, transformative fintech solutions.”
JAX Hub is a 10-week innovation project pairing entrepreneurs and innovators with corporate and community partners. The “innovation-lab-meets-Shark-Tank” model will provide startups and students the chance to explore new ideas, refine scalable business models and showcase final solutions to industry and academic leaders.
It also aims to strengthen ties with the United Kingdom, where both Paysafe and L Marks are based, UNF said in a news release.
The focus of the program will include advanced financial services and family-friendly finance.
“This collaboration brings together the global expertise of an industry leader with the academic strength of a top regional university, all in partnership with the City of Jacksonville. Together, we’re creating a platform that empowers innovators to redefine the future of financial services and establishes Jacksonville as a global center for fintech excellence,” L Marks CEO Daniel Saunders said in the release.
About LMarks, Paysafe
L Marks is a global innovation consultant. Its website says it has “developed and delivered results-driven corporate innovation solutions, trusted by world-leading brands including BMW, Lloyd’s of London and Sodexo. Through our award-winning Innovation Labs, our partners have worked with over 400 startups with a successful deployment rate of over 78%. The New Ventures unit supports its clients to create and develop new revenue-generating businesses through its Venture Studio, and transform their corporate culture within their Intra-Lab.”
JAX Hub is designed to provide startups and scale-ups access to Paysafe’s industry expertise, real-world testing opportunities, mentorship and Jacksonville’s expanding economic and innovation ecosystem, enabling them to develop solutions that meet the needs of consumers, businesses and financial institutions.
Paysafe is a multinational online payment processor and digital wallet app provider.
“JAX Hub will be a real catalyst for Northeast Florida, giving local companies and entrepreneurs a powerful bridge to a global network of innovators. By partnering with Paysafe and UNF, we will blend corporate innovation with startup energy. That mix is exactly what cities like Jacksonville need to accelerate growth,” Jacksonville Mayor Donna Deegan said in the release.
UNF support
The University of North Florida’s Coggin College of Business will provide graduate student expertise and applied research support throughout the program.
Students in fintech, business analytics, accounting and data analytics programs will collaborate directly with corporate partners, gaining experience analyzing data, developing solutions and addressing industry challenges, UNF said.
“Through JAX Hub, talented graduate students in programs such as FinTech, Business Analytics, and Accounting and Data Analytics will have the opportunity to engage directly with real companies, explore emerging financial technologies, and contribute to innovative solutions. This collaboration strengthens the link between education and industry and supports Jacksonville’s continued growth as a center for financial innovation, Albert Loh, interim dean of the Coggin College of Business, said in the release.
Business participant applications for the inaugural JAX Hub cohort are open and will close Jan. 7, 2026. Selected companies will begin pilot engagements with program partners April 13 and will conclude with project demonstrations June 29. Visit jaxhub.us for more information and to apply.