Digital Federal Credit Union purchased the former Kronos headquarters in Chelmsford last month for $12.4 million. Brokers and economic development officials are promoting other office parks on the Route 129 corridor as redevelopment opportunities for housing, retail and hotels

Digital Federal Credit Union has chosen a new batch of fintech startups to mentor and learn from.

The DCU FinTech Innovation Center, the leading program focused exclusively on fostering pre-seed and seed-stage financial technology companies in New England, announced yesterday 10 new start-up ventures in the center’s latest cohort.

The not-for-profit center, fully funded by DCU, is dedicated to accelerating the development of new fintech products and driving the local FinTech ecosystem and banking industry forward.

Twice a year, the center identifies the most promising financial technology startups in the product market fit stage and provides them with everything they need for go-to-market success: a professional network and community, mentorship, as well as one year of free office space at the center.

“When we founded the DCU Fintech Innovation Center four years ago, there was no one central body bringing together fintech startups under one roof,” David Araujo, DCU’s senior vice president of technology and innovation, said in a statement. “This is now the fourth cohort since the relaunch to come through these doors and we’re so pleased to see not only the continued success of the center, but also the early successes that these startups have achieved and attribute, in part, to their participation in this program.”

The innovation center also allows DCU executive leadership to gain insights into how pioneering minds are creating new technologies and rethinking traditional solutions.

“We look at each cohort that comes through the Center as an opportunity to be educated and get exposed to the newer technologies that are out there,” said Araujo. “And that kind of education simply can’t be quantified.”

Alumni of the center have achieved considerable traction through the invaluable network that the center provides. In just under two years, graduates have collectively raised in excess of $200 million in capital for their platforms, ICO’s, equity crowd-funding and traditional venture capital. Additionally, they’ve also launched successful pilots, and partnered with some of the nation’s leading innovation, startup and financial institutions.

Graduates include Coalesce.ai, ILA Capital, Keel, MakeCents, MatchUpBox, Skydeo, Tengu and Virtual Cove.

“Our ultimate goal is to help these startups prepare for broader commercial success once they leave the center by connecting them with world-class financial institutions, mentors, customers and investors,” Vasilios Roussos, managing director of the center, said in a statement. “In this past year, we have seen an increase in pilots and partnerships as we continue to follow a process of engagement that truly builds a foundation for all of these startups and assists them in gaining market traction.”

Coalesce.ai, a pioneer of AI in the financial sector has reached several milestones since joining the center last year and launched several pilots with DCU, the company’s first in the banking and credit union industry.

“Being part of the DCU Fintech community has made a fundamental difference to our business,” Coalesce.ai Founder and CEO Greg Woolf said in a statement. “Not only did we benefit from exposure to a community of entrepreneurs and partners through the center, but we were also able to use their network of experts in helping to identify and implement product features that will be valuable to financial service firms.”

The 2018 Summer Cohort includes:

• Edmit – Personal Finance – Data-driven advising to help make smarter college choices
• Envel – Financial Health – An AI bank that automates management of finances in real-time
• Hound Software – Robotics/Process Automation – AI smart workflows to make customer journeys more efficient
• KingsCrowd – Personal Finance – Startup investment research and analytics for everyone
• Legicash – Blockchain – A scaling protocol to increase efficiency of the blockchain.
• PayByCar – In-vehicle Commerce – In-vehicle payment solution using toll transponders
• Posh Development  – AI/Emerging tech and enterprise chatbot platform
• Reggora – Residential Lending – A cloud-based real estate appraisal platform
• Token Labs – Blockchain – Enables global peer-to-peer payments using digital currency
• Tunnel – Blockchain – Next-generation cryptocurrency protocol and payment system