US-headquartered global independent asset manager Franklin Templeton has launched an early-stage fintech startup incubation programme in partnership with F10 Global Innovation Network Singapore.
This two-year programme, dubbed FT Singapore FinTech Incubator, will kick off in July 2022. It will focus on startups in artificial intelligence/machine learning, capital markets technology, cybersecurity, blockchain, P2P lending, digital distribution and wealthtech, insurtech, regtech, data science, and predictive behaviour analytics.
The selected startups 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.
Other benefits include two years of residency in the island state, individualised milestone-based programming and extensive mentoring and guidance by Franklin Templeton and F10.
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These startups may also be considered for collaboration opportunities with Franklin Templeton in terms of early business unit exposure, technology steering, potential Beta customer trials and further early-stage funding.
The partnership aims to strengthen Franklin Templeton’s leadership and reach in fintech and innovation in Asia and support promising new startups in Singapore and the region.
Founded in 1947, the Franklin Templeton holding company is one of the world’s largest independent investment managers, with more than US$1.4 trillion in assets under management (AUM) and clients in over 165 countries. In 2019, it launched its inaugural fintech incubator in Silicon Valley in collaboration with Southern California’s incubator EvoNexus. Startups admitted into the fintech programme each receives a seed funding amount of US$150,000 in simple agreement for future equity (SAFE) from the firm.
Launched in 2015, F10 is a global incubator and accelerator with offices in Zurich, Singapore, Madrid, and Barcelona. It teams up startups and big businesses such as banks, insurance companies and investors to foster innovation.
To date, F10 has incubated over 200 startups that have raised US$200 million+ in funding, as noted on its website.
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Image Credit: Franklin Templeton
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