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Financial services company Stripe succeeds BT as Young Scientist backer

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  Published in Science and Technology on Wednesday, September 3rd 2025 at 7:23 GMT by The Irish News
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Stripe Steps In to Back Young Scientists, Replacing BT’s Long‑Standing Sponsorship

In a move that signals a shift in corporate support for STEM talent, fintech giant Stripe has announced it will take over the sponsorship of a New Zealand‑based program that nurtures early‑career researchers and innovators. The program, which had been championed by telecommunications giant BT for over a decade, is set to receive new funding and strategic guidance from Stripe, whose involvement is expected to broaden the initiative’s reach and impact.

A Legacy of Backing Emerging Talent

BT’s sponsorship of the New Zealand Young Scientist Initiative (NYSI) began in the early 2000s, providing financial resources, mentorship opportunities, and a platform for young scientists to showcase their work. The program has been credited with launching the careers of dozens of researchers who have gone on to secure positions in academia, industry, and government.

“We’re grateful for the partnership we’ve shared with BT over the years,” said NYSI director Dr. Elena Kwan. “BT’s commitment has helped keep the program alive and thriving, and it’s heartening to see a new partner stepping in to continue that legacy.”

Stripe’s Mission‑Driven Expansion

Stripe’s new role extends beyond a simple financial contribution. The company will leverage its expertise in digital payments and data analytics to streamline grant management, reduce administrative overhead for participants, and connect young scientists with startup ecosystems worldwide. In a statement released by the company, Stripe CEO Patrick Collison emphasized the importance of fostering a robust pipeline of scientific talent: “We believe that science is the engine of innovation. By supporting the next generation of researchers, we’re investing in the future of technology and society.”

The partnership will see Stripe commit an initial NZ$500,000 (roughly US$300,000) for the first year, with plans to scale the funding as the program expands. The money will be allocated to grant disbursements, travel subsidies for conferences, and the acquisition of high‑performance computing resources for data‑intensive projects.

Expanding the Reach of the Initiative

With Stripe’s backing, the NYSI aims to double its cohort size over the next three years. Currently, the program supports 80 young scientists annually across a range of disciplines—including biology, physics, environmental science, and data science. Stripe’s network will facilitate partnerships with tech companies, offering internship and co‑research opportunities that help bridge the gap between academic research and industry application.

“We’re thrilled to see the program grow under Stripe’s guidance,” said NYSI's head of outreach, Professor Liam O’Reilly. “The ability to provide more participants with access to state‑of‑the‑art equipment and mentorship will elevate the quality of research produced.”

The initiative will also incorporate a new mentorship component, pairing each young scientist with a seasoned researcher or industry professional. Stripe’s data‑driven approach will help match mentors with mentees based on complementary interests and long‑term career goals.

Corporate Social Responsibility Meets Technological Innovation

Stripe’s entry into the space reflects a broader trend of tech firms taking an active role in science education and research. Other companies, such as Google, Amazon, and Microsoft, have already announced similar commitments through their philanthropy arms. For Stripe, the move is consistent with its strategy of embedding itself into the entrepreneurial ecosystem—not only by providing payment solutions but also by investing directly in talent development.

In addition to financial support, Stripe will offer its payment infrastructure to streamline the collection and distribution of grants. This integration is expected to reduce processing time for disbursements, ensuring that researchers receive their funds faster and can focus more on their work.

A Bright Future for New Zealand’s Scientists

The partnership has been welcomed by academic leaders across the country. “This is a game‑changer,” said Dr. Maeve O’Connor, dean of the Faculty of Science at the University of Auckland. “The resources and network that Stripe brings will help our students gain real‑world experience and connect with global innovators.”

The NYSI’s expansion will also align with New Zealand’s national strategy to boost its competitiveness in high‑tech sectors. By fostering a deeper talent pipeline, the country can position itself as a hub for cutting‑edge research and innovation.

Looking Ahead

While BT’s withdrawal marks the end of an era for the program, Stripe’s takeover promises a new chapter characterized by growth, innovation, and deeper integration with the global tech ecosystem. The company’s focus on data analytics and digital payments could streamline administrative processes, freeing up time for young scientists to concentrate on research and collaboration.

The partnership’s success will hinge on effective partnership between the NYSI and Stripe’s team of specialists, as well as the engagement of the broader research community. With both companies demonstrating a strong commitment to scientific progress, the collaboration could set a benchmark for how fintech firms can contribute to STEM development worldwide.

In the words of Stripe’s CEO, “Investing in science is investing in our collective future.” As the new partnership unfolds, the world will be watching to see how technology and talent intertwine to shape the next generation of breakthroughs.