Arizona Pro-Innovation Policies
Arizona’s pro-innovation environment enacts trailblazing, technology-driven policies, placing the state right at the leading edge of innovation. This further confirms that Arizona is the best place to bring new technologies and business models to market.
Fintech Sandbox
Financial services are infused with technology, evolving from traditional market regulatory systems and transactions to apps in the cloud. To allow entrepreneurs to launch cutting-edge products without burdensome costs or regulations, Arizona was the first state in the nation to launch a FinTech Sandbox in 2018. While playing in the sandbox, startups can test their innovations on a limited, temporary scale, allowing for business growth. Arizona joins countries including the United Kingdom, Singapore, United Arab Emirates and Australia in encouraging fintech investment by instituting sandboxes.
Proptech Sandbox
Before the Arizona FinTech Sandbox opened for applications, the state created the PropTech Sandbox, thrusting Arizona onto the national stage. The first-in-the-nation sandbox gives visionary thinkers a platform to test unique, tech-based property services and products. Participants have the opportunity to evolve with limited access to test without first obtaining full state licensure. The admissions and oversight process is overseen by the Arizona Commerce Authority.
Blockchain Technology
Beyond cryptocurrencies, blockchain technologies act as a security utility in cybersecurity applications. Arizona updated state statutes to specifically authorize companies to hold and share data using blockchain technology, putting this data on par with written records.
Cybersecurity
With an already booming cybersecurity private sector, collaboration between Arizona's network of experts in government, policy, education and the private sector to create the Arizona Cybersecurity Team. The team focuses advising on cybersecurity issues, facilitating cooperation among the public and private sectors, and promoting public awareness of cyber threats and attacks.
SG Technology
Arizona was the first state in the nation to enact legislation to streamline the deployment of technology enabling next-gen 5G wireless communication. This capability is needed to support and scale the state’s vital digital networks and attract innovative tech companies. Following this deployment, both Verizon and Sprint chose Phoenix to be one of the first U.S. markets to receive their 5G networks.
Automated Vehicles
Arizona is the proving ground for this transformative innovation. An executive order was signed in 2015 to support the testing and operation of self-driving vehicles. Arizona's reputation as an AV-friendly state with innovation-minded support, year-round sunny days and dry weather, enables an exceptional environment for testing and development.
Institute of Automated Mobility
The Institute of Automated Mobility (IAM) is a consortium to advance the safety, science and policy in the automated vehicle sector. Overseen by the Arizona Commerce Authority, IAM brings together the brightest minds from all three Arizona public universities, government leaders committed to embracing innovation, and global industry leaders to collaborate on state-of-the-art research and testing in Arizona.
Sharing Economy
Arizona embraces new, innovative business models, namely the sharing economy. The state’s strong support of the sharing economy was reinforced in 2015 when the governor signed legislation embracing ridesharing services and operations in Arizona. Then, a year later, the governor enacted first-of-its-kind legislation enabling all Arizonans to participate in the 21st-century economy by streamlining the process for home-sharing platforms to collect taxes and remit them to the Arizona Department of Revenue.
Unmanned Aircraft Systems
Arizona is the premier place in the world to responsibly test, deploy and advance Unmanned Aircraft Systems (UAS) technology and policy. The AZSkyTech program was established in 2018 by the Arizona Commerce Authority to develop safety, security and privacy protocols for UAS.