Opportunity arises to be part of programme linking European green finance startups with the Singaporean market
Until the end of August, European startups specialised in Green Finance solutions can apply to the free European FinTech Hackcelerator programme. Its main objective is to ease startup expansion to the ASEAN market, starting with the Singapore FinTech Festival, one of the largest FinTech events in the world.
By applying to the programme, two selected startups will get the opportunity to present their businesses in front of a group of investors, experts and corporate representatives during the Singapore Fintech Festival at the Global FinTech Hackcelerator Final in November 2021. The winners of the European edition will receive a S$20,000 cash stipend each. They will also participate in a tailored networking program with experts and mentors from Singapore combined with six months of free access to the APIX Innovation Sandbox. Selected finalists will be supported by the two leading ecosystem institutions: Economic Development Board Singapore and Block71. Thanks to this collaboration startups will get access to soft-landing support via SG Investment Clinic and a 1-month, intensive acceleration program. Due to the COVID-19 global pandemic, all activities within the programme will be held online.
Furthermore, the European representatives will have a chance to receive a cash prize of up to S$50,000 during the Global FinTech Hackcelerator final at the Singapore FinTech Festival. However, all of these are just the first steps towards acquiring the top corporate clients (up to S$200,000 for PoC implementation) and collaborations with local partners and private investors.
Bringing in support and expertise from ecosystem partners, the European FinTech Hackcelerator has also invited organisations like Seedstars, a Swiss-based company that invests and supports startups from emerging markets, to participate in the programme. Seedstars Partnerships Manager, Asia-Pacific, Archie Moberly, shares his comments on the project: “Bridging the gap between Europe and Singapore in the context of entrepreneurship is not only a powerful tool to connect innovative technologies to global audiences, but also a crucial one as FinTech and Green Finance are poised to be key players in redefining consumer finance. Singapore has long been a pioneer in Asia in the Fintech and Green Finance sectors. The European FinTech Hackcelator is therefore a compelling opportunity for startups in Europe to expand into the ASEAN market and lead the way for much-needed sustainable financial innovation.”
Among the net of ecosystem partners supporting the programme, there are organisations from both Singapore, i.e. Singapore FinTech Festival, Enterprise Singapore, EDB Singapore and Europe, i.e. Polish Investment and Trade Agency, British Embassy in Warsaw, Climate-KIC, Findec, Dealroom and many others. Besides strengthening the communication impact, partners will also provide experts and judges responsible for choosing the best green finance projects of the European FinTech Hackcelerator 2021.