Startupbootcamp FinTech launches Asia accelerator program in Singapore
MasterCard, DBS and Infocomm Investments back Startupbootcamp FinTech Singapore
Launch announced during London FinTech delegation to Singapore, led by London Mayor Boris Johnson
Singapore, 28 November 2014 – Startupbootcamp FinTech, the leading accelerator focused on financial innovation, today announces the immediate opening of Startupbootcamp FinTech Singapore. The program will provide funding, mentorship, office space and access to a network of industry partners, investors and venture capital firms for up to 10 selected FinTech startups. To add to the significance, the launch is part of the London FinTech delegation to Singapore, led by London Mayor Boris Johnson, aimed at building links between the FinTech sectors in London and Asia.
The Singapore program follows the success of Startupbootcamp FinTech London which 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 (SG$11.3 million) and provides startups with mentorship and practical guidance from 200+ entrepreneurs, investors, industry participants and partners as well as access to international markets.
Startupbootcamp FinTech Singapore is backed by industry leading financial services companies – MasterCard and Singapore’s DBS bank – as well as Infocomm Investments, a subsidiary of the Infocomm Development Authority of Singapore (IDA) and venture capital firms SBT Venture Capital and Route 66 Ventures. It is also being supported by the Monetary Authority of Singapore (MAS), Singapore’s central bank and financial regulatory authority.
The program will be led by the founders of Startupbootcamp FinTech , including Nektarios Liolios, Global Managing Director; Carsten Kølbek, Chairman and Markus Gnirck, Chief Operating Officer, together with local mentors and entrepreneurs.
To kick off startups from all over the world are being invited to apply to present their ideas to the Startupbootcamp FinTech team at a series of Pitch Days between January and March 2015. These are being held across the region including in Singapore, Hong Kong, Jakarta, Shanghai, Beijing, Mumbai, Bangalore, Tokyo and Sydney. The 10 successful applicants will then enter a three month accelerator program beginning in May 2015.
Each successful team will also receive €15,000 (SG$24,000) ‘beer and pizza’ money and office space for at least three months at the Singapore startup hubs at Blocks 71, 73 and 79 in central Singapore.
Nektarios Liolios, Managing Director, Startupbootcamp FinTech, said: “Over the last 12 months the Startupbootcamp team has visited South East 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 program in Asia. Singapore, with its concentration of investors, financial institutions and mentors, as well as the strong industry and government support here, makes an ideal innovation hub. The London version of Startupbootcamp FinTech has attracted startups form around the world and by bringing the program to Singapore, we will be able to provide the right platform to nurture talent, great ideas and innovation, offering the startups the access they need to reach the financial community.”
Steve Leonard, chairman of Infocomm Investments said: “Startupbootcamp FinTech is the premier fintech accelerator with strong industry backing and proven results globally. It also has outstanding relationships with VCs, mentors and in the financial services industry. We are delighted to welcome Startupbootcamp Singapore as we continue our effort to nurture innovation and build Singapore into not only a Smart City but a Smart Nation.”
Pascal Bouvier, partner at Route 66 Ventures added: “As a venture capital firm much of the enjoyment from our work comes from seeing great ideas and visions germinate into great companies. This is happening already in Startupbootcamp FinTech London. Now we are excited to be a part of bringing Startupbootcamp Fintech to Singapore.”
“We are proud to be a part of a program which facilitates financial innovation in Singapore by attracting global startups. Through this partnership, we hope to help small fintech businesses access the expertise, practical support and funding that they need backed by strong industry support. Working with Startupbootcamp FinTech gives us the opportunity to play our part in fostering a genuinely entrepreneurial and innovative start-up ecosystem in South-East Asia,” commented Neal Cross, Chief Innovation Officer at DBS.
Mastercard said “Having partnered with Startupbootcamp FinTech for the London FinTech program, we are very excited to be working with the team to broaden the programme into Asia, a region where we have a strong heritage and deep roots. In this dynamic market we look forward to seeing the ideas the startups bring to the table and to helping them in bringing their ideas to fruition.”
Interested startups can apply for Startupbootcamp FinTech Singapore here
Applications will remain open until 15 March 2015.
Keep up to date with Startupbootcamp FinTech on Twitter @sbcFinTech or visit: https://www.startupbootcamp.org/accelerator/fintech-london.html
About Startupbootcamp FinTech
Launched in 2014, Startupbootcamp FinTech is Europe’s leading FinTech accelerator, and the only programme of its kind to attract such wide industry support. Based in London, its partners include Lloyds Banking Group, MasterCard, Rabobank, SBT Venture Capital, arvato Financial Services, Route 66 Ventures and Intesa Sanpaolo, as well as an extensive mentor and alumni network from more than 30 countries across the globe. The award-winning accelerator offers FinTech startups access to world class industry expertise during an intensive three month programme. At the end of the programme, startups pitch at Demo Day to more than 150 investors.
Other Startupbootcamp programmes are currently active in Amsterdam, Barcelona, Berlin, Copenhagen, Eindhoven, Israel, Istanbul and London with other cities and vertical programs to be announced soon.
Cognito APAC: Tim Williamson
+ 65 6818 9024
Cognito Europe: Katherine Dvorkin / Paul Bowhay
+44 (0)207 426 9400