SLC is fintech USA

We are truly fortunate to be in Utah, where the energy and momentum in our economy are palpable. It's a thrilling time to be part of this thriving community, and there's something special on the horizon that will shape our future for the next twenty years: fintech.

Fintech, the fusion of finance and technology, is set to revolutionize the way we conduct business, manage our finances, and interact with the financial world. It's an industry that's gaining significant traction and has the potential to propel our economy to new heights.

In a recent article, the prestigious Wall Street Journal highlighted the University of Utah and Salt Lake City's brand-new, game-changing center. This center is not only attracting attention but also becoming the epicenter of gravity for good ideas, top talent, and innovative companies in the fintech space. It's an exciting development that positions us at the forefront of fintech innovation.

I encourage you to read the WSJ article to dive deeper into the details and get a comprehensive understanding of the impact this center will have. Furthermore, don't miss the opportunity to explore the Stena Center itself, where groundbreaking work is taking place.

You'll be amazed by the talent and dedication within this hub of fintech excellence. And for those hungry for more insights, EDCUtah is an invaluable resource to delve further into the intricacies of this fascinating industry.

Salt Lake City Ups the Ante in Bid to Become a Fintech Hub

The Wall St. Journal Writes about the University of Utah’s new education center in the city that aims to produce employees who are equipped to work in financial technology.

Utah is poised to become a fintech powerhouse, and we have all the necessary elements to make it happen. With our innovative spirit, collaborative mindset, and relentless pursuit of excellence, we can shape the future of fintech not just in our region but on a national and global scale.

Five facts about fintech for those looking to grasp the basics:

1. What is fintech? Fintech is the fusion of finance and technology, combining innovative technologies and digital solutions to enhance financial services. It encompasses a wide range of areas, including mobile payments, online banking, digital lending, and blockchain technology.

2. Convenience at your fingertips: Fintech has revolutionized the way we manage our finances by providing convenient, user-friendly digital platforms. With fintech, you can easily access and control your financial transactions, monitor your accounts, and make payments anytime, anywhere, using your smartphone or computer.

3. From startups to industry giants: Fintech has opened the doors for a wave of new companies, often referred to as fintech startups. These innovative startups are disrupting traditional financial services by offering alternative solutions that are often more efficient, cost-effective, and customer-centric. However, established financial institutions are also embracing fintech and incorporating digital solutions into their services to stay competitive.

4. Empowering financial inclusion: Fintech has the potential to bridge the gap and promote financial inclusion by providing access to financial services for underserved populations. Through mobile banking, digital wallets, and microfinance platforms, fintech allows individuals who were previously excluded from traditional banking systems to participate in the global economy.

5. Security and regulation: As fintech continues to evolve, ensuring data privacy and cybersecurity is crucial. Fintech companies are heavily regulated to protect consumers and maintain the integrity of the financial system. Measures such as encryption, biometric authentication, and fraud detection systems are implemented to ensure secure transactions and safeguard sensitive information.

Remember, these facts provide a simplified overview of the vast world of fintech. It's an ever-evolving field that continues to shape the way we interact with and manage our finances.

Epicenter of energy

Let's take a moment to reflect on the immense energy revolution that's currently happening right in our backyard. From the stunning mountain ranges of the Wasatch Front to the vast plains of the Uintah Basin, Utah is becoming an electrifying epicenter for energy innovation and transformation.

Energy transformation is more than just a shift in how we power our world—it’s a testament to human potential and our capacity to innovate. Here in Utah, we're experiencing this firsthand. We're creating groundbreaking infrastructure, fostering innovative talent, and pushing the boundaries of what's possible. It's about flourishing opportunities, sparking ideas into action, and witnessing the potential of energy in real-time. This is Utah, where the energy revolution thrives.

The energy sector is already a trillion-dollar industry and it’s projected to grow exponentially in the years ahead. With its rich resources, strategic location, and ambitious vision, Utah is perfectly positioned to capitalize on this.

We're leveraging our existing resources, our crucial position as a transmission hub for the West, and our dynamic partnerships to build a future that's sustainable, vibrant, and full of opportunity.

Show Me The Money!!!

The energy sector is already a trillion-dollar industry and it’s projected to grow exponentially in the years ahead.

Take, for example, the inspiring project of transforming an old power plant into a baseball team. It’s not just about building a team but about revitalizing our community, showcasing creativity, and symbolizing progress in our beloved Salt Lake City. Exciting things are on the horizon, and our journey is just beginning.

That site, home to the new HQ for Rocky Mountain Power, is working on incredible ideas. This includes the president and CEO Gary Hoogeveen, who was recently seen on ABC (2:00) discussing innovative nuclear power initiatives with Bill Gates. Talk about Big League Utah, such high-profile collaborations underline the vast potential and exciting developments ahead.

Have you heard of pump storage? Thanks to Salt Lake City-based rPlus, it's becoming the next big thing in energy storage with the Gardner Company, Luigi Resta, and Theresa Foxley behind it.

Pumping Up The Storage!

Imagine a funfair where electricity becomes a thrilling ride, transforming excess power into potential energy that's ready for use when needed. This is the kind of innovation that's putting Utah on the map as a leading player in the energy revolution.

Moreover, Utah is proving to be a shining beacon in the clean energy space, thanks to the tireless efforts of Amanda Smith, Carter Livingston, and the AES team. As one of the state's leading clean energy developers, AES invests in a safe and reliable transition to clean energy, provides workforce development and training, and helps Utah emerge as a leader in solar energy capacity.

And let's not forget about the rural areas of Utah, where the vast landscapes are ripe for ground-breaking energy projects. With support from the Department of Energy, ambitious initiatives like Advanced Clean Energy Storage LLC's industrial $504M green hydrogen storage facility and Utah FORGE's innovative geothermal energy research are taking shape.

Together, let's continue blazing the trail toward a brighter future. Utah's energy revolution is not just a story of progress; it's a tale of unity, collaboration, and shared determination. We invite you to join us on this incredible journey as we unlock the boundless potential of clean and sustainable energy.

As we stand at the epicenter of this electrifying revolution, let's remember that the energy transformation extends far beyond our immediate surroundings. It has the power to inspire and influence the world. By setting an example and proving the viability of sustainable energy solutions, we can ignite a global movement towards a greener, more prosperous planet.

So, dear friends, let's embrace the limitless possibilities before us. There are plenty I couldn’t share today. Let's continue to dream big, think boldly, and act decisively. Together, we can shape history and propel the energy revolution forward with unstoppable momentum. Thank you for being part of this remarkable journey. The future is bright, and together, we will illuminate the world with the power of Utah's energy transformation.

Our region’s future is bright thanks to your dedication, ingenuity, and energy.

Millennials: Utah's Dynamic Force

Utah holds a title of significance: we're the state with the highest millennial population in the country, mainly concentrated along the Wasatch Front. If demographics determine destiny, this represents an exceptional force of change and a reservoir of momentum. But here's the question: Are our millennials aware of their potential? Are you?

Let's delve into some notable facts:

1. Over 32% of millennials in Utah hold a bachelor's degree or higher, contributing to nearly 40% of our educated populace aged 25 and above.

2. Utah's millennial homeownership rate outpaces the nation at 51%.

3. Millennials form a significant portion of Utah's consumer base, their annual purchasing power markedly driving the state's economy.

These points underscore a perspective captured in The Atlantic:

“Whatever one’s views of socialism, it matters whether Millennials are doing better or worse than the generations before them—and, more important, whether they believe they are. The erosion of faith in material progress has already reshaped political values and changed the tenor of American culture, and the longer it persists, the more it will continue to do so. Rising prosperity and the optimism that follows carry benefits that extend well beyond material comfort. They make social comparisons less obsessive and, as the economic historian Benjamin M. Friedman observed in his 2006 book, The Moral Consequences of Economic Growth, create an environment in which hatreds cool, cooperation becomes easier, and human rights advance more readily.”

With the momentum of our millennials and Utah's robust free-enterprise economy, we are poised for extraordinary growth over the next decade. Our collective task is cultivating and broadcasting this optimism, propelling Utah toward its full potential.

Thorns have roses

A wise reflection from President Abraham Lincoln, "We can complain because rose bushes have thorns, or rejoice because thorns have roses."

Though this note is reaching you later than our usual Friends Friday, this Sunday, I share my week in Washington, D.C., a journey of finding a few of Utah’s roses amidst the thorns of the nation's capital.

Housing Innovation in DC

This week the nation was focused on housing innovation. I plugged into the Ivory Innovations teams’ exploits and impact as part of dozens of events, including a showcase of ideas on the national mall.

Highlight was at the National Building Museum, where my colleague Jenna Louie and Salt Lake City's Blake Thomas shared pioneering initiatives in housing policy hosted. America’s housing solutions team starts in Utah.

Did you know? In 2018, Salt Lake City etched its name in the annals of housing innovation by being the first city nationwide to pass the ICC’s off-site code. This groundbreaking initiative has ignited a wave of transformative energy, inspiring cities and towns far beyond our state's borders. This isn’t just conceptual. Read about one of those projects here: a local company, EcoBox, helped provide 500 new housing units.

Moore Leadership

Congressman Blake Moore, Rachel Wagley, his Chief of Staff, Devin Murphy and many of his stellar team - continue to turn words into actions. Did you know they’ve already had four significant bills turned into law? Let me frame that, last Congress, only 7% or 1,200 bills became law of the 17,000+ introduced. Let alone, he was one of nearly 75 freshmen and now on the House Ways and Means Committee impacting tons of issues.

One of their next ones? Congressman Blake Moore introduced the Charitable Act to empower Americans to contribute to charitable causes and support local communities. In addition to a broad, nationwide coalition that touches nearly every sector of our economy, the bill is endorsed by more than 100 nonprofits in Utah.

Blake's pursuit of collaborations and innovative solutions sets a commendable standard for effective leadership - reach out. Our former Mr. Football is committed to Good people + Good ideas = More Good Things Happen for our state and nation.

Utah's Embassy and Incubator in D.C.

I enjoyed touring the future new home of the Hinckley Institute of Politics in D.C. The Hatch Center.

The Institute is a beacon of Utah's forward-thinking spirit and innovative dynamism, occupying two charming row homes and a new carriage house. As an alumnus, witnessing this evolution fills me with pride and anticipation.

Jason Perry, Gina Shipley, Morgan Lyon Cotti, Natalie Tippets, and the Hinckley team are not just shaping Utah's next tier of change-makers. They’re launching our state into a new level of impact. Who is the rising star you know that needs to plug in?

Roses Rising Above

Utah and, specfically, our Salt Lake region continue to rise above challenges, its influence radiating far beyond. Our nation needs more of Utah’s leadership, ideas, and people; I am confident of a future where roses outshine the thorns.

Wishing you a Sunday filled with peace and inspiration,

Michael Parker Facilitator, Friends of Salt Lake

P.S. Friendstorm follow up: Please remember the Utahns Against Hunger call on Friday, June 16th, at 11:00 AM via Zoom.

Hungryforaction

Happy Friend Friday,

Rallying for Change: Advocating Healthy School Meals for All

Together, we're tackling a significant but often unseen problem: child hunger. This isn't merely a case of supporting a handful of kids; it's about caring for all of our children, regardless of their socioeconomic status. We are on a mission to ensure every young Utahn has access to nourishing meals and is ready for optimal learning.

Friends of Salt Lake: Friendstorm Recap

Friends of Salt Lake is more than just a gathering place; we are a dynamic hub of ideas, a meeting ground for thought-leaders, and an incubator where actionable solutions are born. Our Friendstorm session are simple settings to focus this drive, melding insight, connect dots and action to move the next step forward.

"Policy entrepreneurs play the role of change agents—they transform their understanding of what is possible into a new policy reality for us all." - John W. Kingdon, Political Scientist

Our recent Friendstorm on food insecurity highlighted the urgent need for systemic action. Our friend and dedicated champion against student lunch debt, Lindsey Nikola, amplified this call for change helping clear $6,000 in school debt herself.

The Power of a Meal: A Leverage Point for Greater Impact

Access to school meals could be a critical tool to reduce food insecurity, bolster academic achievement, and most importantly, nourish our young learners. The cost of implementing this initiative would represent a small fraction of Utah's education budget. However, the potential return is enormous: healthier, happier, and more focused students ready to maximize their education.

• Food insecurity impacts 1 in 5 Utah children

• The Healthy School Meals for All program could help

• Continues “Good” parts of pandemic

• $83 million a year, fraction of Utah's $5 billion+ education budget

• Utah's kids have $10.5 million in unpaid meal debt

• It would eliminate 15,813 hours spent on paperwork monthly

• Rep. Clancy has initiated a school meals bill, indicating change may be coming

• Utahns Against Hunger is rallying support for this solution.

Remembering the Good Ol' Days: A Personal Note

On a personal note, I fondly recall my junior high days when nothing could beat the simple joy of savouring a cheesy school pizza. Lindsey reminded us of that perspective and much more, and it was inspiring to see someone put their passion and values to work. Whatever Lindsey and our hungry kids need – I’m there. I hope you will be too.

And there's more! Gina Cornia of Utahns Against Hunger is organizing a stakeholder meeting.

Catalytic Ideas: Save the Date August 22nd

We're thrilled to announce our “Catalyst Conclave.” Think of it as 'Shark Tank' for local issues – a platform where you can pitch a solution or collaboration. You'll have five minutes to present your innovative ideas for community improvement.

But we have more in store! We're merging this event with our Fast Friends Forum on August 22nd, transforming it into a power-packed 90-minute session starting at noon. This event will comprise a keynote address, time for pitches, and resources to support the best ideas. We'll share more specific details about these events soon, so stay tuned!

Engage, Empower, Inspire: Let's Build a Friendship Council!

Many of you have asked, "How can I help Friends of Salt Lake?" The answer is straightforward: show up, push an idea, foster collaborations, and be enthusiastic about our future. To further democratize decision-making, we're forming a Friendship Council. If you'd like to contribute to this, just let us know!

Looking Ahead: Let's Make Waves

We're ready to make waves and unleash a tsunami of change. Join us as we fight child hunger, spark innovative ideas, and strengthen our community. So, please forward this to one friend, follow on Instagram, or LinkedIn and let's continue this crucial conversation.

Make sure you take an opportunity to cheer on a friend this week.

Your friend,
Michael Parker
Facilitator, Friends of Salt Lake

P.S. Last week, the Dearfield Fund from Colorado was honored by Ivory Innovations for its contributions to our cause. I think we need to bring them to SLC!

Friends of Salt Lake
32 W 200 S
Salt Lake City, UT 84101
United States of America

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Friendstorms

Friendstorms: Collaborative Innovation for a Better Future

Introduction:

Welcome to the world of Friendstorms, a captivating approach to collaborative innovation that empowers individuals like you to make a positive impact. In this blog post, we'll explore how Friendstorms provide a space for creative exploration, collective problem-solving, and collaboration for a better future. Join us as we dive into the exciting possibilities of Friendstorms and discover how they relate to you and your aspirations for positive change.

1. Embracing Collaboration and Innovation:

Friendstorms bring together diverse individuals, just like yourself, who are passionate about making a difference. Through collaboration and teamwork, Friendstorms unlock the power of collective thinking and innovation. They provide a platform where your ideas are valued, nurtured, and amplified through collaboration with others.

2. Tapping into the Power of Your Ideas:

Friendstorms invite you to unleash your creativity and explore new possibilities. Whether you have a bold vision or a small spark of an idea, Friendstorms empower you to contribute and refine your ideas in a supportive environment. Your unique perspectives and insights add value to the collective intelligence of the group.

3. Joining Forces for Positive Change:

Friendstorms connect you with like-minded individuals who share a common desire to create a better future. By joining forces, you can amplify the impact of your ideas and initiatives. Through collaboration, you'll benefit from diverse perspectives, expertise, and resources that help turn your ideas into tangible solutions with real-world impact.

4. Building a Supportive Community:

Friendstorms foster a safe and inclusive space where difficult issues can be explored openly and respectfully. It's a community that encourages empathy, understanding, and collaboration, enabling you to address challenging problems head-on. Friendstorms provide the support and encouragement needed to navigate through complex issues and make meaningful progress.

5. Making a Difference, One Friendstorm at a Time:

Friendstorms are not limited to a single session or a particular cause. They are a mindset, a way of approaching challenges and pursuing positive change. By actively participating in Friendstorms, you become part of a movement that is driving collective action and making a difference, one Friendstorm at a time.

Conclusion:

Friendstorms offer you an exciting opportunity to engage in collaborative innovation and contribute to positive change. Through collaboration, creativity, and a supportive community, Friendstorms empower you to turn your ideas into impactful solutions that shape a better future. So, embrace the spirit of Friendstorms, join forces with passionate individuals, and let your ideas soar. Together, we can create a world where innovation, collaboration, and positive change thrive. Get ready to embark on a journey of transformation and make your mark through the power of Friendstorms!

The inaugural Friendstorm, held under the Friends of Salt Lake initiative, will be a momentous occasion of collaborative innovation focused on revolutionizing the school lunch system in Utah.

Both sides of the aisle

Both Sides of the Aisle

You may have noticed many different political perspectives at our Fast Friend Forum; that’s how we like it!

Our kickoff was featured on KCPW’s "Both Sides of the Aisle" where Friends Natalie Gochnour and Shireen Ghorbani discussed our purpose and vision. They shed light on our efforts to foster the most dynamic region of problem solvers, navigators, and doers in America.

You can catch their weekly insightful conversation with State Auditor John Dougal wherever you listen to your podcasts.

It's a great listen!

Carol Halloway

Carol Halloway

Today, our spotlight shines on Carol Halloway from Switchpoint Community Resource Center. From St. George to now Salt Lake, Carol has been instrumental in developing deeply affordable housing solutions and tackling homelessness in our community. Her innovative approach is evident the moment you meet her. Switchpoint and Carol are not just key contributors, they’re social enterprises, including coffee and a bakery, so they’re powering their mission through entrepreneurialism, collaboration, and empowerment.

Embodying Switchpoint's motto, “It Takes All Of Us,” Carol makes a difference, one step at a time. Thanks for being a friend, Carol.

Revving Up Collaboration:

Highlights from the Inaugural Fast Friends Forum

A New Collaboration for A New Era

The inaugural Fast Friends Forum was anything but your typical gathering. Instead, it was a lively meeting of minds, a fusion of passionate advocates and innovators from all across Salt Lake City and the broader region. They came together under one roof, ready to trade stories, share insights, and ignite the flame of future collaborations.

Inspiring Friendship and Ownership

Setting the stage was Michael Parker, who invoked the spirit of the famed Valter Nassi. With hands waving about as if guiding a plane to a landing, he echoed Valter's proclamation, “It is not Salt Lake City; it is Salt Lake My City. Do you understand? Salt Lake My City. Wow!”

This sentiment reminded us that friendship and a sense of ownership are the propelling forces that will catapult our region, a top-20 metro by population and a Megaregion, according to the Brookings Institution, into a brighter future.

Breaking Down Silos

Next, Mayor Erin Mendenhall took us through grand plans and initiatives, like a 5-mile green loop and a significant investment in affordable housing. Her rallying cry? Leveraging growth for good and elevating our expectations. She also highlighted the unique nature of Friends of Salt Lake, describing it as a cross-sector collaborative space that enables us to harness the power of our institutions rather than be constrained by them.

The Spark of Innovation

Aimee Edwards from BioHive captured our attention next with a riveting perspective on the tech and life sciences sector. For Aimee, friendship and collaboration aren't just social niceties but sparks that ignite Salt Lake's entrepreneurial engine.

Rising to the Challenge

Derek Miller of the Salt Lake Chamber and Downtown Alliance threw down the gauntlet, daring us not to let Friends of Salt Lake be just another meeting. Challenge accepted, Derek. We're ready to channel Utah's robust economic strength into significant social change.

Fast Friend Forums

It's a space where passionate individuals come together to spark new ideas, learn from each other, and ignite fresh collaborations.

United We Stand

Jennifer Mayer-Glenn demonstrated how friendships and collaborations on the west side of our city could be absolute game-changers, driving lasting change. Collaborations take work, patience, listening, and, most importantly, trust.

Affiliation, Affection, and Aspiration

Natalie Gochnour from the Kem C. Gardner Policy Institute shared her insights about being a friend to your city. Her conclusion? Salt Lake is a great American city that has earned our affiliation, affection, and aspiration.

Symbols of Unity

State Senator Dan McCay took us deep into the power of shared symbols in fostering community unity. The new state and city flag? They're not just symbols but our rallying points, fostering unity even when we disagree. Did you know that 70% of Texans own something with their flag on it, and the other 30% just moved there? It’s high time we had two great flags to unify us!

People Power

Finally, Beth Martial closed with a powerful call to action: reach out to a friend, new or old. After all, it's people who ground us and propel us forward.

What's on the Horizon?

The Fast Friends Forum was just the starting point for shaping the future of Salt Lake City and beyond. It's a space where passionate individuals come together to spark new ideas, learn from each other, and ignite fresh collaborations.

Stay tuned for more updates, events, and thought leadership from us. We're excited to see what we can achieve together. Thanks to everyone who joined us on this thrilling journey; we can't wait to see you at the next forum. With the power of friendship on our side, we're ready to keep shaping the future of our beloved city.