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Accelerator programme backs Asian tech start-ups

Posted: 01 Dec 2014 ?? ?Print Version ?Bookmark and Share

Keywords:start-up? FinTech? Smart Nation?

Tech start-ups in Asia have a reason to be giddy these days with the opening of the Startupbootcamp FinTech Asia accelerator programme in Singapore through a partnership between Startupbootcamp FinTech, Europe's leading accelerator focused on financial innovation, and Infocomm Investments Pte Ltd (IIPL), the investment subsidiary of the Infocomm Development Authority of Singapore (IDA).

"The Prime Minister of Singapore has laid out a vision for Singapore to become a Smart Nation," said Steve Leonard, executive deputy chair of IDA. "This means we are pulling together our world-ranked universities, multi-billion annual R&D investments, a fast-growing community of tech start-ups 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 $8.7 million and provides start-ups with mentorship and practical guidance from over 200 entrepreneurs, investors, industry participants and partners as well as access to international markets.

For the past 12 months, the Startupbootcamp team has visited Southeast Asia on several occasions and has impressed by the quality and innovation levels of start-ups here, according to Nektarios Liolios, managing director at Startupbootcamp FinTech.

"We think the timing is right to open a ... programme in Asia," Liolios said. "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."

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 start-ups. Each successful team will also receive $18,700 'beer and pizza' money and office space for at least three months at Singapore's new start-up cluster at one-north, where two new blocksBlock 73 and 79will be added to the current Block 71.

To kick off, start-ups from all over the world are invited to apply and present their ideas to the Startupbootcamp FinTech team at a series of Pitch Days between January and March 2015. These will be held across the region including Singapore, Hong Kong, Jakarta, Shanghai, Beijing, Mumbai, Bangalore, Tokyo and Sydney. The 10 successful applicants will then enter a three-month accelerator programme beginning in May 2015.

Pascal Bouvier, partner at Route 66 Ventures, said: "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 Asia through Singapore."

Interested start-ups can apply for Startupbootcamp FinTech Asia Accelerator Programme in Singapore here:

Applications will remain open until 15 March 2015.

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