Scottrade's sponsorship will aid the program by providing participating entrepreneurs and start-ups with the financial backing, guidance and insight to foster dynamic and disruptive technology that will transform the financial services industry.

"At Scottrade we understand that technology is a key component to a quality client experience, and as a natural extension of our commitment to fostering innovation, we are encouraging the development of new ideas through our support of the Scivantage FinTech Incubator Program," said Ian Patterson, chief information officer and executive director of information technology at Scottrade. "As a company founded by an entrepreneur nearly 35 years ago, we are glad to be able to promote young entrepreneurs through our role with the Scivantage FinTech Incubator Program."

"Scivantage has developed the Incubator program to enable entrepreneurs and start-ups to turn their ideas into companies that ultimately become the pioneers of tomorrow's financial technology," said Adnane Charchour, President and CEO of Scivantage. "We are delighted to have the support of Scottrade, as one of today's leading investment firms in promoting innovation in this space. Scottrade has a rich history of assisting similar initiatives, both internally and externally, and we could not be more excited to have the firm lend its experience to our program."

The Scivantage FinTech Incubator Program aims to support and accelerate the launch of next generation financial technology products, enabling entrepreneurs and early-stage startups to drive a new era of financial services innovation. At the end of the 12-week Incubator Program, each of the selected entrepreneurs will present at the Scivantage Incubator Demo Day, where leading FinTech executives and investors will be in attendance.

Through a competitive process, promising entrepreneurs will be selected to participate in the incubator program during each cycle, with each receiving:

An investment ovnt ovestment of up to $25,000 in seed capital
Premier office space in Scivantage's Jersey City, N.J., office
Sales, marketing and design support
Mentorship from a diverse group of seasoned FinTech executives and entrepreneurs and Stevens faculty
The opportunity to recruit top students and alumni from Stevens Institute of Technology

The application period is now closed and the program will begin July 30, 2014.