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Source: Franklin Templeton
Franklin Templeton, one of the world’s largest independent asset managers, is pleased to announce a joint incubation program in Singapore for early-stage FinTech startups in partnership with FinTech startup accelerator and incubator, F10 Global Innovation Network Singapore Pte. Ltd. (“F10”).
This incubation program, to be known as “FT Singapore FinTech Incubator”, will further strengthen Franklin Templeton’s leadership and reach in FinTech and innovation in Asia, supporting promising new startups in Singapore and the region.
The two-year program will kick-off in July 2022. The startups admitted into the program will receive seed funding from Franklin Templeton and are expected to be housed at 80RR FinTech Hub in the heart of Singapore’s business district.
Franklin Templeton and F10 are focused on identifying and admitting Fintech startups in the following core technology areas to the program: artificial intelligence/machine learning, capital markets technology, cybersecurity, blockchain, P2P lending, digital distribution and wealth management technology, InsurTech, RegTech, data science and predictive behaviour analytics, among many others. The focus will be on FinTech ideas that represent strategic areas of growth and disruption for Franklin Templeton and its businesses.
The selected startups for this incubation program will utilize Franklin Templeton and F10’s well curated incubation curriculum, including two years of residency, individualized milestone-based programming and receive extensive mentoring and guidance by Franklin Templeton and F10. The entrepreneurs can further leverage on F10’s ecosystem of 120+ venture capitalists, a strong global corporate partner network in the financial services industry, and a strong mentor network of over 70 individuals.
Startups admitted into the FT Singapore FinTech Incubator may be considered for collaboration opportunities with Franklin Templeton, including early business unit exposure, technology steering, and potential Beta customer trials and early-stage funding.
Joe Boerio, EVP, Chief Risk & Transformation Officer at Franklin Templeton, said: “Following the successful launch of our inaugural FinTech incubator in Silicon Valley, we are pleased to partner with F10 to expand on our global incubation program in Singapore and to help nurture and support startups that would revolutionize the financial industry with their creativity and technology.”
Chetan Karkhanis, SVP, Digital Strategy and Wealth Management APAC and lead for the incubation program in Singapore at Franklin Templeton, said “Singapore is a fast-growing and dynamic FinTech and innovation hub not only for Asia but the world. We seek to partner with and nurture a promising talent base while continuing to support the innovation hub in Singapore, with a view to develop an APAC regional FinTech ecosystem which actively engages with local stakeholders including academic and research institutions as well as government entities.”
“We at F10 believe that the fastest route to innovation is through collaboration. The vast and continued growth of FinTech adoption in Asia is now a fantastic opportunity for Franklin Templeton to incubate the next generation of promising FinTech startups in Singapore. Franklin Templeton’s experience of working with startups in North America paired with F10’s well established incubation programs in Singapore offers a unique opportunity for founders from across APAC (Asia Pacific) to join the program. We are convinced that our collaboration with Franklin Templeton for this incubation program will repeat the success that both organizations have achieved with their existing programs,” states Jonas Thürig, Head of F10 Singapore.
Financial Services
