JAX Hub launches to make Jacksonville a global fintech powerhouse (Courtesy of the Jacksonville Business Journal) — JAX Hub has officially launched — a multi-sector partnership that aims to position Northeast Florida as a global epicenter for financial innovation.
Spearheaded by London-based corporate innovation firm L Marks, the initiative announced earlier this year has now brought on Paysafe and the University of North Florida as founding partners.
Aside from being a pitch to entrepreneurs, JAX Hub’s leaders promise it will be more than just a business accelerator, and closer to a launchpad for the next wave of transformative financial technologies.
“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,” said L Marks CEO Daniel Saunders in a statement. “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 has spent recent months working with local financial firms to understand each of their pain points and opportunities within their sectors, Saunders told the Business Journal in May. From there, the company goes and scouts for innovators from its network across 80 countries.
That’s who ultimately participates in JAX Hub, validating each company solution against the challenges clients have set.
“I’m able to find these different innovators at different stages, different variations of the solutions to these opportunity areas, and I can triage them down to the best ones that really directly address them I think will make that difference,” Saunders said. “We invite the best ones to come to Jacksonville.”
At the end of that 10-week process, Saunders said, L Marks goes back to the corporate partner and discusses how much the solution will cost to implement with an expected return on investment from the pilot solution.
Startups and scaleups that join the JAX Hub program will get access to Paysafe’s industry expertise, real-world testing opportunities, mentorship and Jacksonville’s expanding innovation ecosystem, per the release.
For UNF’s side of the partnership, the Coggin College of Business will provide graduate student talent and research support throughout the program, helping develop the next generation of fintech professionals, according to the release.
It’s all the result of a 2023 Memorandum of Understanding signed between the state of Florida and the U.K. government to deepen bilateral trade and economic cooperation. JAX Hub is its flagship outcome, per its leaders.
Applications for the inaugural cohort opened Monday and will close on Jan. 7, 2026. Selected companies will begin pilot engagements with program partners in April 2026.
Different categories of solutions Paysafe is seeking through this program include advanced financial services; building the merchant loyalty engine; family friendly finance; plus unconventional ideas that may not fit neatly into traditional financial technology categories.
“Innovation thrives through collaboration and shared purpose,” said Paysafe Chief Product Officer Bob Legters. “At Paysafe, we’re proud to support Jacksonville’s growing tech community by connecting with global startups and local innovators who are shaping the future of technology and helping us grow together.”