FinTech accelerator Startupbootcamp, with offices in New York, Singapore, and London, and with more than 300 startups accelerated since 2010, today announced the 10 companies that have been selected to join its Singapore program.
After a multi-day event last week that included finalists from across the Asia-Pacific region, ten companies were selected by a panel of industry representatives including Startupbootcamp’s partners.
The search focused on startups across 16 APAC countries including the eventual 10 program recipients selected from companies based in Australia, Cambodia, India, South Korea, Malaysia, Thailand, Taiwan and Singapore.
Singapore Program Results
Commenting in the press release, Neal Cross, Chief Innovation Officer of DBS in Singapore, said: “As part of our SGD$10 million investment into the development of the Singapore FinTech start-up ecosystem, we are proud to be working with Startupbootcamp FinTech again to scout and accelerate 10 promising FinTech start-ups from around the region. The exchange between our employees and these start-ups is a strategic move towards engaging with emerging innovations and discovering potential areas for disruption.”
The FinTech companies represented broad areas of financial services industries such as insurance, accounting, credit cards and lending, bank driven solutions for retailers, currency exchange rate products, digital insurance management, and capital markets investing related solutions.
Of the ten startups selected, a few related to capital markets include SETScope, a Thailand-based platform for evaluating stocks, and Currenseek, a Malaysian startup that uses location-based and community-driven currency exchange rate comparison that are displayed within an app, and a Taiwan-based firm named Kuchi that provides a platform for investors that leverages machine learning to help make investments better. The other seven firms that won entry included PolicyPal, Connaizen, Coinluck, Cefy, Boundlss, BanhJi, and Supertext. An image of the ten recipients can be seen below, courtesy of Startupbootcamp:
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3 Months to Accelerate
The ten companies will get SGD$25,000 each and 4 months of free office space at BASH, a startup hub in Singapore at Block 79. The company said that the Monetary Authority of Singapore (MAS) is also supporting it with regard to firm’s financial regulatory needs. The ten firms will have three months to accelerate their business with the new perks, in advance of an invitation to pitch more than five hundred investors during demo day, according to Startupbootcamp.
“We reviewed over 350 applications from startups through online applications and 16 FastTracks around Asia.”
The press release added that MasterCard, CIMB, RHB, DBS, Intesa SanPaolo, Thomson Reuters, PwC, PixVine Capital, Jungle Ventures, Accreditation@IDA and Infocomm Investments will also provide the FinTech finalists with access to industry data, potential pilot customers, and capital.
The company has an extensive network of partners including major banks, investment banks, brokerages and interdealer brokers, and venture capital firms, as well as an alumni network. Startupbootcamp has 13 programs across Europe, the US and Asia, and nearly 80% of its accelerated companies are still active.
Startupbootcamp FinTech Managing Director Steven Tong said in the press release: “We reviewed over 350 applications from startups through online applications and 16 FastTracks around Asia. 20 impressive startups were selected from 8 countries to participate in our Selection Days. The high quality of the shortlisted startups made it a difficult process to select the final 10 that will form the 2016 cohort of the programme. We are confident that 2016 cohort will do well in the Startupbootcamp Fintech accelerator.”