July 26, 2016
The Monetary Authority of Singapore (MAS) and LTP’s new FinTech market network featuring 4500+ startups and 200+ research pieces, MEDICI, are inviting international startups to apply for the Global FinTech Hackcelerator, the global accelerator program aimed to develop and scale market-ready FinTech solutions.
This new partnership provides tremendous benefits to companies applying for the program through MEDICI, and LTP is looking forward to welcoming them into the network via this collaboration with MAS and the Global FinTech Hackcelerator.
The Global FinTech Hackcelerator program is open to global FinTech companies, startups and teams. The program aims to create market-ready solutions to real industry problems and is structured to benefit teams looking to commercialize their solutions.
The Global FinTech Hackcelerator is part of the Singapore FinTech Festival organized by MAS and its partners. The inaugural Singapore FinTech Festival is taking place in the week of 14–18 of November 2016 and consists of a series of FinTech events including the Hackcelerator Demo Day, Innovation Lab Crawl, MAS FinTech Awards, FinTech Conference, Tech Risk Conference and RegTech Forum.
One of the most meaningful events in the industry brings together startups, technology companies, investors, financial institutions, research institutes and innovation professionals. Dedicated to the community of talented entrepreneurs, MAS is looking to recognize the most innovative FinTech solutions and reward the efforts of talented teams in bringing innovation to Singapore.
As part of the festival, the Hackcelerator Demo Day is the concluding step of the Global FinTech Hackcelerator and will take place on November 15, providing an opportunity for chosen teams to present their solutions to the community of notable attendees.
MAS is known to be one of the most supportive organizations to innovative growth governmental structures in the world, which is also extending support to the FinTech community with its FinTech Regulatory Sandbox.
Now, organized in partnership with The Association of Banks in Singapore, Global FinTech Hackcelerator by MAS, represents the best opportunity for talented entrepreneurs to scale their market-ready FinTech solutions in Asia, together with business leaders from the industry and with the support of MAS.
In the application form, teams are required to highlight which of the 100 published problem statements their solutions solve. These problem statements provide an overview of how the financial industry is looking to use technology in financial services. The application is open until July 31, 2016.
Up to 20 global teams will be selected to participate in the 10-week virtual program that will culminate in a demo day at the inaugural Singapore FinTech Festival on 15 November 2016. International teams are only required to be in Singapore for the Demo Day during the Singapore FinTech Festival week.
The Global FinTech Hackcelerator does not require IP or equity in return for participation. Hackcelerator teams will be prominently featured at the inaugural Singapore FinTech Festival.
With the objective to source the most innovative ideas from around the world, the Global FinTech Hackcelerator selected teams will go through a virtual program in the lead-up to the demo day that would allow them to build connections with the industry, including leaders from the financial institutions, technology and investment community.
Deep domain knowledge in conjunction with curated expert analysis and an intelligent search algorithm, makes MEDICI a powerful tool to follow this fast-changing sector that Goldman Sachs estimates to be worth $4.7 trillion globally.
Being the only FinTech engagement platform that provides domain-specific insights and research along with contextual engagement, MEDICI enables companies to accelerate growth strategy through quick identification of target companies for a commercial relationship, partnership, investment or acquisition.