Southeast Asia’s FinTech ecosystem will now have even greater access to Europe’s banks, insurers, and regulators through F10 Singapore, the Asia launchpad for Europe’s leading Incubator & Accelerator for FinTech, RegTech, InsurTech, and DeepTech.
"Bridging the gap between Southeast Asia and Europe’s FinTech ecosystem is critical to the global success of banking, insurance and regulation innovation. This milestone is part of the active steps we have taken towards this larger vision to create new opportunities for F10 Singapore’s startups and corporate partners," said Jonas Thürig, Head of F10 Singapore.
The F10 network gives entrepreneurs and startups strategic opportunities to connect with corporate partners which include the Swiss Stock Exchange (SIX) and the Spanish Stock Exchange (Bolsas y Mercados Españoles or BME).
The launch of F10 in Spain will connect the Singapore programs and F10 Singapore partners - such as SIX, Bank Julius Baer and R3 - with fresh ways to collaborate with innovators across Madrid, Barcelona, Bilbao, and Valencia.
“We see great potential in Spain’s financial sector due to the recent growth in tech startup investment, an abundance of game-changing startups, and the innovation-oriented mindset of its established businesses,” said Andreas Iten, F10 Global Co-Founder.
F10 Singapore first launched in January 2020 to create new opportunities for its Asia-based partners to collaborate with European banks, insurers, and tech experts. The first round of F10 Singapore’s Incubation Program received more than 200 applications and strong interest from startups with a focus on solutions for digital assets, enterprise data management, payments and more.
F10 Singapore helps to solve the top problem FinTech entrepreneurs face: selling their solution to established banks and insurance companies. F10’s program goes beyond corporate exposure and facilitates targeted collaboration platforms for its startups and corporate partners. Each startup benefits from a dedicated F10 Coach to support them in their effort to build successful partnerships with incumbents.
To graduate from the F10 Incubation Program, participants must fulfil the four Prototype-to-Product criterion: (1) a working Minimum Viable Product; (2) its first customer acquisition with at least one Letter of Intent; (3) a team with sufficient capacity and skills to execute the proof of concept; and (4) the financing required to execute the proof of concept. The teams reaching all the milestones will receive 20’000 SGD in reimbursements.
Since 2016, more than 100 banking and insurance tech startups globally have completed the F10 Incubation Program, with an impressive survival rate of 85 per cent. The global innovation hub is currently looking for more local corporations and investors to benefit from its ecosystem in Spain.
New logo and website to state the global reach
F10 will open in Madrid, Barcelona, Bilbao und Valencia. Furthermore, F10 is unveiling a new look that reflects the increasing global ecosystem. With the rebranding and the new website, F10 aims to enter additional markets. The innovation hub in Spain sets the next milestone. With the Swiss Stock Exchange (SIX) and its recent acquisition, Spanish Stock Exchange Bolsas y Mercados Españoles (BME), F10 has a strong backbone of corporate partners. The global innovation hub is currently looking for more local corporations and investors to benefit from its ecosystem in Spain. The first Incubation Program will be launched in March 2021.
F10 is where innovation meets industry, helping today's talent create tomorrow's technology. It is an ecosystem of startups, corporates, industry experts, and investors, with local hubs in Switzerland, Singapore and Spain. Its mission is to stimulate worldwide collaboration to further innovation across industries.