Today, the Stellar Development Foundation (SDF) announced the launch of Stellar Next-Gen, an initiative to foster the growth and development of tomorrow's business leaders and developers. SDF will collaborate with universities and other educational institutions worldwide to support and promote efforts that further SDF's mission to create equitable access to the global financial system.
The state of fintech growth and talent
As fintech becomes increasingly prevalent, it’s becoming a prerequisite for firms to remain competitive in the marketplace. Globally, the fintech industry was valued at 1.5 trillion dollars in 2019 and is estimated to grow by 23.58% (CAGR) into 2025 (Globe Newswire, 2020). However, there are challenges in finding and hiring qualified applicants with the right skill sets. INSART’s Fintech Talent Shortage report (2020) found that:62% of firms said hiring developers with the necessary skills was “somewhat challenging” while 29% said it was “extremely challenging.” Overall, 64% of firms said they had a skills gap in their organization in 2019, and this gap continues to widen.
As the blockchain and fintech industries continue to grow, colleges and universities are preparing their students for this paradigm shift in web applications with courses and programs to bridge this skills gap. Through Stellar Next-Gen, SDF will provide support in a way that suits students' needs, including but not limited to: offering guest lectures, helping students build projects on Stellar, and assisting in adding blockchain and Stellar-specific content to their curricula.
Stellar Next-Gen in action
Stellar Next-Gen will support top academic programs and organizations such as Blockchain at Berkeley, University College of London’s Centre of Blockchain Technologies, and the National University of Singapore’s Fintech Lab. Stellar Next-Gen will also further adopt and create inclusive communities in the ind...