THE FINLAB, a joint venture company between United Overseas Bank Ltd (“UOB”) and Infocomm Investments Pte Ltd (“IIPL”), invites Thai FinTech start-ups to apply for its acceleration programme slated in Singapore.

FinLab

What is THE FINLAB?

THE FINLAB accelerates the development of disruptive FinTech start-ups changing our world today. Through our deep expertise and broad experience in the financial industry and the venture capital ecosystem, we provide start-ups with valuable insights, analytics and a strong infrastructure to propel their businesses to the next level. A joint venture between Infocomm Investments Pte Ltd (IIPL) and United Overseas Bank Ltd (UOB), our wide connections in ASEAN, Greater China, Europe and the United States provide our start-ups an unparalleled access to the global market for growth and expansion.

Why should fintech start-ups apply to join The Finlab’s acceleration program, and what’s in it for them should they get selected?

It is a fact that early stage start-ups face a failure rate of higher than 90%. The causes are usually bad business models and/or lack of experience of the team in planning, execution, and tapping into the right networks for resources like funding.

These can be largely mitigated when start-ups join THE FINLAB’s acceleration programme; and for an intense 3-month period, they get to refine their business and revenue models by leveraging the knowledge, experience and networks of the mentors.

By going through the programme in Singapore with the support of IIPL, start-ups enjoy a multitude of benefits such as ease of doing business and access to governmental grants. They will also get to attend talks given by our regulators and legal experts so they can be kept abreast of the latest developments and make sure that they leverage this knowledge to its fullest potential.

Additionally, UOB provides the start-ups with their deep domain expertise through strong mentorship and vast connections within the bank’s network. This gives our accelerates an unparalleled advantage in scaling quickly in the financial industry.

Many start-ups leverage Singapore’s unique position as a launchpad into various markets afterwards, and this is strongly supported by both UOB and IIPL’s vast connections in ASEAN, Greater China, Europe and the United States.

The 10 Fintech Start-ups selected into THE FINLAB’s acceleration programme will each receive:

  • SGD30,000 in funding upon acceptance, in return for a 6% equity stake, valuing each start-up at SGD500,000 right from the start;
  • Mentorship and guidance from UOB business leaders and industry experts that cover banking domain expertise, skills such as technology, design & soft skills, as well as resources and network with key parties like VCs;
  • Access to software such as cloud hosting, analytics and other software tools; and
  • Co-working space in BASH, Singapore’s biggest integrated start-up space.

Who should apply?

Innovative Fintech start-ups that:

  • Are less than three years old and are looking to strengthen their business offerings in-order to attract Seed or Series A funding;
  • Have a strong and cohesive team with the necessary domain knowledge and skills; and
  • Have developed a Minimal Viable Product (“MVP”) in the following areas
    • Data Compression Algorithms
    • Encryption Algorithms
    • Big Data Analytics
    • SME Banking Solutions
    • Mobile Banking Solutions
    • Payments and Collections
    • Risk Management
    • Wealth / Portfolio Management

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Joining Pitch & Get Feedback at THE FINLAB Launchpad Event

If you are keen to apply or would like to find out more, THE FINLAB is holding an event called

The FinLab Launchpad

Date: 10th October 2016

Time: 1pm. - 6pm.

Venue: Now 26, Siam Square Soi 7, Bangkok

Besides sharing about the landscape in Singapore and why acceleration is useful, a few lucky fintech start-ups will be picked to pitch to mentors and get valuable feedback in return.

As places are limited, please do register your interest  "Register NOW

Moreover on the same day, UOB also has special seminar for everyone  "Unlock Startup Growth by UOB". Click here to get more information

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