Our Week-Long Celebration of FinTech
As part of our global startup scouting tour, we went to the FinTech festival in Singapore to meet new startups and invite them to our accelerator program. Startups, technology companies, investors, financial institutions, and research institutions came together to discuss and celebrate fintech for one week.
Our Co-founder Markus and Program Manager Thomas flew all the way to Singapore because of two reasons:
Reason number one and main driver was to meet Asian startups that are qualified for our next batch which either have a potential to expand to Switzerland/Europe or a potential to collaborate with the Corporate Members of the F10 association.
The second reason was to connect to the broader fintech ecosystem in Asia, meaning to other accelerators, investors, and regulators in order to identify possibilities for collaborations on various levels.
The initial plan was to attend the conference talks in the morning and spend the afternoon to meet startups and other participants of the fintech ecosystem. As soon as our booth was set up, it was completely over run by international startups, accelerators, investors, regulator and many more. Luckily Markus and Thomas had some spare time to attend the hackelerator finals where Apiax, one of our startups from Batch 1, pitched. Other than that both Markus and Thomas didn’t see a single presentation, as the F10 booth seemed to be the place to be. We were also proud to see that Riskifier, a startup of the current batch, was successful at the FinTech festival as well. “I think we got much more out of this trip to Singapore, than we expected.”, Markus said.
Attending the FinTech festival in Singapore allowed us to return home with a bag full of new insights and learnings. It was very impressive to see what Asia and especially Singapore is doing in the fintech space and how much effort both startups, incubators and the government are putting into fintech innovations.
Switzerland and the SIX Group should better increase efforts in those areas if we don’t want to be left behind. Asians are very dedicated, well educated, and follow very clear strategies which is one of their success factors.
Another purpose of our trip was to visit accelerators and corporate innovation labs to identify possible cooperations. What we experienced was, that even though they’re better equipped than our innovation lab and F10, this does not automatically lead to a greater success rate.
Markus: “I’m actually very proud of our own achievements. With less money, in a shorter period of time, and thanks to our corporate startups xChain, DealPool and other innovation ideas we achieved a similar success as some of the corporate labs with huge resources and lots of time.”