Switzerland based Fintech Incubator & Accelerator F10 has set up a new office in Singapore to expand its reach in the world of Fintech. Singapore is a well established Fintec hub due to the exceptional support by the Singaporean government and financial regulators. F10 said it will bring the Swiss expertise with a local team to the Asian Fintech hub to run the the P2 “Prototype to Product” Startup program. F10’s goal is to drive innovation between the Swiss and Asian ecosystems. F10 reports that approximately 100 early stage Fintech ventures have entered its program with an 85% survival rate. The decision to expand in Singapore was drive by two hackathons hosted in the country by F10.
F10 seeks to support pre-seed and seed-stage Fintech, Regtech and Insurtech Startups to stimulate worldwide collaboration.
Corporate members in Singapore may expect to benefit from access to promising startups with the opportunity to collaborate with them. F10 states that two members are already on board in Singapore, SIX (the Swiss Stock Exchange) and Julius Baer (a global private bank).
Andreas Iten, co-founder & board member of F10 and MD of head of SIX Fintech Ventures, commented on the Asian expansion:
managing director & head of SIX Fintech Ventures
“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. 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.”
F10 has opened the applications for the forthcoming class beginning in May 2020 in Singapore. F10 Head of Program Management Lisa Schröder is transferring from Zurich to Singapore to support and guide Asian Startups with a local team.