2020-JAII-05 Request for Proposals for Fintech Ecosystem Analysis

The Massachusetts Technology Collaborative, through its John Adams Innovation Institute division, is seeking proposals from qualified applicants to develop an Ecosystem Analysis of the Fintech ecosystem in the Commonwealth of Massachusetts. The analysis and work product produced by the chosen vendor will be used to inform the efforts of the Fintech Working Group to increase the growth of the Fintech/financial services sector in Massachusetts. The RFP requires respondents to have familiarity with the Fintech and financial services industry in Massachusetts, demonstrated experience analyzing ecosystems, and knowledge of the interactions between Fintech and financial services companies. The analysis must follow a holistic and systematic framework approach, focusing on the junction of Fintech and financial services, and include statistics, a map and assessment of the Fintech ecosystem, insights into emerging trends and best practices, and recommendations to support sector growth. Responses to the RFP are due by December 20, 2019, and the final analysis is expected to be delivered in a report and presentation by March/April 2020.

The services will be supported through state funding through the Innovation Institute Line Item (7002-0032). While match funding is not required, it can be a strong indicator of the applicant's commitment and may create a more robust project. The successful consultant will work closely with a Fintech Advisory Board selected by the Fintech Working Group and may be offered the opportunity to continue engaging the ecosystem as a standing member of the working group. The state has not utilized any other vendors for similar work in the past, and there are no legal issues with utilizing offshore personnel for the research and writing. MassTech may seek to negotiate a smaller scope of work if responses exceed the available funds.