University of Washington’s CoMotion has formed a fintech incubator with nonprofit credit union Becu called the Becu Fintech Incubator.

CoMotion, the tech transfer office of University of Washington, has joined forces with nonprofit credit union Becu to start a fintech incubator based at CoMotion’s Startup-Hall, GeekWire reported on Tuesday. The Becu Fintech Incubator offers participating businesses office space at CoMotion Labs and access to University of Washington resources and contacts. Becu will provide expertise in financial services, including anonymised data and connections to its national network of credit unions. The program does not require equity for participation. CoMotion evolved from University of Washington’s Center for Commercialization to extend its support of spinouts into services for the wider entrepreneurial ecosystem. The new incubator’s first two resident businesses were named as Noonum, which uses machine learning and natural language processing to help financial advisors screen potential investments, and Warren, an automation platform for business-to-business invoices and bills which has already received a seed sum from undisclosed investors.

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