Business

Incubation & Innovation as a Service

Published

4 years ago

April 17, 2022

In today’s rapidly evolving business landscape, the ability to innovate is not just a competitive advantage but a necessity. Companies that can adapt, evolve, and continuously innovate are the ones that thrive. However, innovation is not a solitary endeavour; it requires the right environment, resources, and support. This is where incubation and innovation centres step in, providing a fertile ground for ideas to germinate, grow, and ultimately, flourish.

Role of Incubation & Innovation Centres

Creating an Ecosystem for Innovation

At the core of incubation and innovation centers is the provision of an ecosystem conducive to nurturing ideas. These centers serve as catalysts, offering a range of services and facilities designed to accelerate the innovation process. From ideation workshops to technology partnerships, they provide the essential building blocks for transforming ideas into tangible solutions.

Accelerating Growth Through Collaboration

One of the key offerings of these centers is their accelerator programs. These programs are designed to propel start-ups and budding innovators forward, helping them scale faster and more efficiently. By leveraging the resources and expertise available within the center, participants can navigate the challenges of growth with greater ease and confidence.

Forge Strategic Partnerships for Technological Advancement

Technology partnerships form the backbone of incubation and innovation centers. By collaborating with leading technology providers, these centers ensure access to cutting-edge tools and solutions. From digital thinking to cognitive automation, the possibilities are limitless. Cognitive automation holds immense potential, with applications ranging from quality management systems to automated customer service agents.

Domain Expertise: Tailoring Solutions for Specific Industries

Incubation and innovation centers cater to a diverse range of industries, from fintech to healthcare, retail to real estate. By bringing together domain experts with deep industry knowledge, these centers are able to tailor solutions that address the unique challenges and opportunities within each sector.

Empowering Through Activities and Workshops

Central to the success of incubation and innovation centers are the activities and workshops they organize. These sessions serve as forums for collaboration, ideation, and skill development. Whether it’s a design lab, a system engineering lab, or a data engineering lab, these facilities provide the necessary infrastructure for innovation to thrive.

Critical roles in incubation and innovation centre:

To illustrate the impact of different roles in incubation and innovation centres, let’s delve into each specialised skill:

Domain SME Support: By leveraging the expertise of domain specialists, companies can ensure that their products and services are aligned with industry standards and best practices. From defining processes to validating deliverables, domain SMEs play a crucial role in every stage of the innovation process.
Researcher Insights: User research lies at the heart of successful innovation. By understanding the needs and preferences of end-users, companies can design products and services that truly resonate. Researchers help gather, analyse, and synthesise valuable insights, ensuring that innovation remains user-centric.
Workshop Facilitation: Workshops serve as incubators for ideas, providing a space for collaboration and creativity to flourish. Facilitators play a key role in guiding these sessions, ensuring that all voices are heard and ideas are explored to their fullest potential.
UX/UI Excellence: In today’s digital age, the user experience is paramount. UX/UI specialists are tasked with designing intuitive, seamless interfaces that delight users and drive engagement. From wireframes to prototypes, they bring ideas to life in a way that is both visually appealing and highly functional.
Program Management Leadership: Behind every successful innovation initiative is a strong program manager. These individuals oversee the entire incubation process, from inception to execution. They coordinate resources, manage timelines, and ensure that projects stay on track towards their goals.

Innovation and incubation centers serve as vital engines of growth and transformation within organisations. These centers provide a structured framework and supportive environment for nurturing new ideas and initiatives from conception to commercialisation. Through rigorous screening and selection processes, promising ideas are identified and allocated resources such as funding, expertise, and infrastructure. Innovators are then guided through structured programs and processes that facilitate prototype development, validation, and market testing. Successful innovations are scaled up and prepared for commercial launch, while ongoing monitoring and evaluation ensure alignment with organisational objectives and key performance indicators. Moreover, these centers foster collaboration, knowledge sharing, and continuous improvement, driving a culture of innovation and excellence throughout the organisation.

In conclusion, incubation and innovation centers play a pivotal role in driving progress and propelling organisations forward. By providing the necessary resources, support, and expertise, they empower innovators to turn their ideas into reality. In a world where change is the only constant, these centers serve as beacons of innovation, lighting the way towards a brighter future.

Business

Derik Fay and the Quiet Rise of a Fintech Dynasty: How a Relentless Visionary is Redefining the Future of Payments

Published

1 week ago

October 17, 2025

Matthew Wiles

Long before the headlines, before the Forbes features, and well before he became a respected fixture in boardrooms across the country, Derik Fay was a kid from Westerly, Rhode Island with little more than grit and audacity. Now, with a strategic footprint spanning more than 40 companies—including holdings in media, construction, real estate, pharma, fitness, and fintech—Fay’s influence is as diversified as it is deliberate. And his most recent move may be his boldest yet: the acquisition and co-ownership of Tycoon Payments, a fintech venture poised to disrupt an industry built on middlemen and outdated rules.

Where many entrepreneurs chase headlines, Fay chases legacy.

Rebuilding the Foundation of Fintech

In the saturated space of payment processors, Fay didn’t just want another transactional brand. He saw a broken system—one that labeled too many businesses as “high-risk,” denied them access, and overcharged them into silence. Tycoon Payments, under his stewardship, is rewriting that narrative from the ground up.

Instead of the all-too-common “fake processor” model, where companies act as brokers rather than actual underwriters, Tycoon Payments is being engineered to own the rails—integrating direct banking partnerships, custom risk modeling, and flexible support for underserved industries.

“Disruption isn’t about being loud,” Fay said in a private strategy session with advisors. “It’s about fixing what’s been ignored for too long. I don’t chase waves—I build the coastline.”

Quiet Power, Strategic Depth

Now 46 years old, Fay has evolved from scrappy gym owner to an empire builder, founding 3F Management as a private equity and venture vehicle to scale fast-growth businesses with staying power. His portfolio includes names like Bare Knuckle Fighting Championships, BIGG Pharma, Results Roofing, FayMs Films, and SalonPlex—but also dozens of companies that never make headlines. That’s by design.

Where others seek followers, Fay builds founders. Where most celebrate their exits, Fay reinvests in people.

While he often deflects conversations around his personal wealth, analysts estimate his net worth to exceed $100 million, with some placing it comfortably over $250 million, based on exits, real estate holdings, and the trajectory of his current ventures.

Yet unlike others in his tax bracket, Fay still answers cold DMs. He mentors rising entrepreneurs without cameras rolling. And he shows up—not just with capital, but with conviction.

A Mogul Grounded in Real Life

Outside of business, Fay remains committed to his role as a father and partner. He shares two daughters, Sophia Elena Fay and Isabella Roslyn Fay, and has been in a relationship with Shandra Phillips since 2021. He’s known for keeping his personal life private, but those close to him speak of a man who brings the same intention to parenting as he does to scaling multimillion-dollar ventures—focused, present, and consistent.

His physical stature—standing at 6′1″—matches his professional gravitas, but what’s more striking is his ability to operate with both discipline and empathy. Fay’s reputation among founders and CEOs is not just one of capital deployment, but emotional intelligence. As one partner noted, “He’s the kind of guy who will break down your pitch—and rebuild your belief in yourself in the same breath.”

The Tycoon Blueprint

The playbook Fay is writing at Tycoon Payments doesn’t just threaten incumbents—it reinvents the infrastructure. This isn’t another “fintech startup” with a flashy brand and no backend. It’s a strategically positioned venture with real underwriting power, cross-border ambitions, and a founder who understands how to scale quietly until the entire industry has to take notice.

In an age where so many entrepreneurs rely on noise and virality to build influence, Fay remains a master of what can only be called elite stealth. He doesn’t need the spotlight. But his impact casts a long shadow.

Conclusion: The Empire Expands

From Rhode Island beginnings to venture boardrooms, from gym owner to fintech force, Derik Fay continues to build not just businesses—but a blueprint. One rooted in resilience, innovation, and long-term infrastructure.

Tycoon Payments may be the latest chess piece. But the game he’s playing is bigger than one move. It’s a long game of strategic leverage, intentional legacy, and generational wealth.

And Fay is not just playing it. He’s redefining the rules.