Singapore budgets for fintech hub

Singapore's latest budget includes provisions to create SG-Innovate, a fintech hub building on the country's existing programs.

The government of Singapore revealed in its latest budget that it will create a fintech hub called SG-Innovate.

The hub will match entrepreneurs with mentors, introduce them to venture capital firms and help them access talent from research institutions. It will also offer advice on how they can open their business to new markets.

SG-Innovate will build on the work carried out by Infocomm Investments, a wholly-owned subsidiary of the Infocomm Development Authority of Singapore that manages more than $200m and offers acceleration and incubation to startups and entrepreneurs.

The hub will work with the Singapore Economic Development Board and the Ministry of Trade and Industry's Spring Singapore program, which helps local enterprises grow.

In collaboration with these partners, SG-Innovate will expand their accelerator programs into new sectors such as smart energy, digital manufacturing, fintech, digital health, and the internet of things.

The budget did not provide details on funding for the hub.

See more from this Government Report: Singapore

Back

Copyright Mawsonia Limited 2010. Please don't cut articles from www.globalgovernmentventuring.com or the PDF and redistribute by email or post to the web without written permission.

Most read

  1. Benson Hill to grow with $25m series B

    March 30, 2017

  2. STT reinforces Armor with $89m investment

    April 06, 2017

  3. UK to review tax breaks

    April 03, 2017

  4. BDC helps accelerate Calgary startups

    April 13, 2017

  5. Enterprise Ireland allocates $47m to startups

    April 05, 2017

Events

  • 23 May - 24 May, 2017

    GCV Symposium 2017 - London

    Join 400+ business leaders from the corporate venturing and wider high growth business ecosystem for the two-day 2017 GCV Symposium.

  • More Events