SINGAPORE (IndoTelko) – Startupbootcamp FinTech, Europe’s leading accelerator focused on financial innovation, announced the immediate opening of the Startupbootcamp FinTech Asia accelerator programme in Singapore.
This is brought about by a strategic partnership with Infocomm Investments Pte Ltd (IIPL), the investment subsidiary of the Infocomm Development Authority of Singapore (IDA).
Steve Leonard, the Executive Deputy Chairman of IDA and Chairman of IIPL, announced the launch at an event co-hosted with Mayor of London Boris Johnson who is on an ASEAN tour to build stronger links between London and Asia.
Steve Leonard said: “The Prime Minister of Singapore has laid out a vision for Singapore to become a Smart Nation. This means we are pulling together our world-ranked universities, multibillion annual R&D investments, a fast-growing community of tech startups and large pools of investment capital to tackle important challenges that also affect other leading cities around the world.”
The Asia accelerator programme, anchored in Singapore, follows on from the success of Startupbootcamp FinTech London. The London programme has received over 436 applications, from 59 different countries following 18 Pitch Days worldwide since its launch in March 2014.
Today, Startupbootcamp FinTech London supports 10 teams with a combined valuation of €7 million euros and provides startups with mentorship and practical guidance from over 200 entrepreneurs, investors, industry participants and partners as well as access to international markets.
Nektarios Liolios, Managing Director, Startupbootcamp FinTech, said: “Over the last 12 months, the Startupbootcamp team has visited Southeast Asia on several occasions. We have been impressed by the quality and innovation levels of the startups we have encountered. We think the timing is right to open a Startupbootcamp FinTech programme in Asia.”
Startupbootcamp FinTech Asia accelerator programme will provide funding, mentorship, office space and access to a network of industry partners, investors and venture capital firms for up to 10 selected Singapore-based FinTech startups.
Each successful team will also receive €15,000 (SG$24,000) ‘beer and pizza’ money and office space for at least three months at Singapore’s new startup cluster at one-north, where two new blocks – Block 73 and 79 – will be added to the current Block 71.
Startupbootcamp FinTech Asia accelerator programme in Singapore is also backed by industry leading financial services companies – MasterCard and Singapore’s DBS bank and venture capital firms - SBT Venture Capital and Route 66 Ventures. It is also supported by the Monetary Authority of Singapore.(es)