F10, Switzerland-originated fintech accelerator and incubator has added Singapore into its operational city, an official statement shared.
F10 will bring to the country its P2 <<Prototype to Product>> Startup program to drive innovation towards the fintech sector.
F10 seeks to support the entrepreneurs with a dedicated coach to develop the idea further, provide tools, create exposure, and enable partnerships. The aim in Singapore is to support pre-seed and seed-stage fintech, regtech, and insurtech startups to stimulate worldwide collaboration with international organisations while giving access to the F10 ecosystem.
After four years in Zurich as incubator and accelerator, the expansion is deemed timely with track records of around 100 Startups already went through the programs with an 85 per cent plus survival rate.
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Before officially launching its operation in Singapore, F10 has completed two F10 Hackathons in Asia. This time, the 6-month program will start in May 2020 and is open for teams with a validated prototype of their product or service that solves a relevant problem within the financial industry.
With the expansion expected to bridge the gap between the European and Asian economy, Corporate Members in Singapore may benefit from access to high-potential startups with the opportunity to collaborate with them.
Two members are already on board in Singapore, namely SIX and Julius Baer, which are also part of the Swiss ecosystem and aware of the benefits from working with F10.
“We are excited to open a second office in Singapore and to explore the possibilities further. Singapore offers an ideal framework for fintech initiatives and is centrally located in Asia with high potential neighboring countries,” said F10 co-founder and board member Andreas Iten.
“We have observed the developments in Singapore closely and actively contributed to shaping the fintech landscape in the region. We want to bridge the gap between Switzerland and Singapore, two highly ranked innovative places, and offer Startups the opportunity to benefit from both ecosystems,” he continued.
The F10 opened the applications for this Startup Program beginning in May 2020 in Singapore. Following the setup, F10 Head of Program Management Lisa Schröder will transfer to Singapore, bringing her experience from Switzerland to Asia to support and guide Asian startups with a local team.
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