SINGAPORE 3 MAR 2021: F10 Singapore’s first accelerator cohort will be ready to go to market after graduating from the pioneer accelerator program. Two startups, SynctacticAI and CoverGo, from the cohort of six startups will also undergo the accreditation program by PwC Singapore.
“The innovative startups graduating today will be able to approach businesses with the confidence of accreditation from one of the world’s leading consulting and professional services networks," said Jonas Thürig, Head of F10 Singapore, the Asia launchpad for F10 Global, Europe’s leading incubator and accelerator for FinTech, RegTech, InsurTech, and DeepTech.
SynctacticAI and CoverGo were selected for the accreditation program based on various criteria such as traction, potential, team composition and focus area. The selection committee consisted of senior leaders from PwC Singapore, F10 and some of its corporate partners.
SynctacticAI provides a data science platform that solves problems many organisations are facing making decisions with data, while CoverGo helps insurance businesses overcome their legacy systems to serve their customers better through digital solutions. The two are relatively new to the Singapore market so this accreditation by PwC Singapore will articulate their ability in four key areas - team talent, financials, business model and compliance - that are relevant for effective collaboration with other corporates.
"We have been working with the incumbents and newcomers in accelerating technology advances and digital transformation within the financial services sector. By working with F10 and supporting these innovative startups in their own personal journeys, we can be part of the ongoing evolution of financial services in Singapore and beyond," says Wanyi Wong, FinTech leader at PwC Singapore.
For this and future cohorts, PwC Singapore joins F10 as a strategic partner to co-create the future of financial services in Singapore. PwC Singapore’s accreditation program aims to boost industry-wide FinTech adoption.
F10’s other corporate partners include SIX (Swiss Stock Exchange), Bank Julius Baer and R3. There were also more than 60 mentors in the program from companies such as Accenture, DBS, Deloitte, HSBC, NETS, Oracle, Standard Chartered, UBS and more.
Other startups from the accelerator cohort have also achieved major milestones. Propine was the first independent Digital Asset Custody service provider to graduate from the Monetary Authority of Singapore’s FinTech Regulatory Sandbox. APAIX was named Winner of the Most Promising Fintech Startup 2020 for their sixth technology awards. Signzy has won 10 new clients globally across Egypt, Honduras, India, Poland, UAE and USA, while Couture.ai is targeting business and technology decision makers with their newly honed go-to-market approach.
F10 Singapore’s next accelerator program will take place in September 2021. Applications will open in April and teams who are interested can find out more here.
Since 2016, more than 130 banking and insurance tech startups globally have completed the F10 Global’s FinTech programs. The F10 provides the startups with 1-on-1 coaching on go-to-market strategies and product development. Fundraising support was provided by connecting the entrepreneurs to the F10 investor network. To qualify for the accelerator program, startup teams need to commit to transforming their product or service into a scalable solution, gain traction and secure funding.
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.
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F10 Singapore and its startup cohort are available for introductions, further comments or media interviews.
About F10: 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. For more information, please visit www.f10.global
F10’s first cohort of startups from the accelerator program include: