Its main objective is to ease startup expansion to the ASEAN market, starting with the Singapore FinTech Festival, one of the largest FinTech events in the world.
Th programme is supported by a net of 20+ international startup organizations from both Europe and Asia, its main coordinator is Accelpoint Accelerator.
Entering the Asian market can turn out to be a complicated venture according to many startup founders, mostly in part to cultural and business indifference. Legal procedures, along with financial boundaries, make this venture even harder when it comes to the FinTech market. These challenges have become the spark for establishing European FinTech Hackcelerator.
By applying to the programme, startups will get the opportunity to present their businesses in front of a group of investors, experts and corporate representatives during the Singapore Fintech Festival at the Global FinTech Hackcelerator Demo Day on December 10th.
The winner of the European edition of the contest will receive an award of S$20,000, participate in a 12-week Virtual Programme with FinTech experts from Singapore, six months free access to APIX Innovation Sandbox, mentorship by industry experts and access to a network of potential clients and venture capitalists.
Furthermore, the European representative will have a chance to receive a cash prize of up to S$50.000 - the top 3 startups will receive the reward - during the Global FinTech Hackcelerator in Singapore's FinTech Festival.
However, all of these are just the first steps on the path towards acquiring the top corporate clients (up to S$200.000 for PoC implementation) and collaborations with local partners and private investors. Startups interested in taking part in the competition can apply to www.europefh.com.
“For many years, we have witnessed numerous European startups struggling to enter Asian markets. That is why we have decided to develop a programme that would ease this challenge by linking the right projects with the right market guides, clients and investors. We are looking for established, top, European based FinTech startups with market-ready solutions that have the potential to scale globally. The programme is seeking projects with clear solutions to operate at the intersection of the financial and technological fields. Startups applying to the programme can not be older than seven years and should be ready for the international expansion in Asia. Programme is open for all European companies, registered in both EU member states and all other European countries,” explains Hubert Anyzewski, Managing Partner at Accelpoint Accelerator and the main organizer of the European FinTech Hackcelerator.
The contest is in support with a network of more than 20 international partners from both Singapore and Europe.
In this group - along with many others - we will find well-known accelerators and investors like Seedstars, Startup Wise Guys or Block71. The project consists of a group of Strategic Partners: EIT Climate-KIC, Enterprise Singapore, Polish Agency for Trade and Development, Polish Investment & Trade Agency, SGInnovate, Singapore Economic Development Board (EDB), Singapore FinTech Association and of course Singapore Fintech Festival. Besides supporting the communication channels of the programme, partners will also provide experts and judges responsible for choosing the best projects of the European FinTech Hackcelerator.
"We strongly encourage all European FinTech startups deliberating on expanding to the ASEAN market to consider Singapore as a gateway point. With around 40.000 startups, more than 100 incubators and accelerators, easy access to corporate investors, and over 150 VC funds, Singapore is without a doubt the technological leader in the region. According to the Global Innovation Index, Singapore is the most innovative country in Asia and the World Bank points to Singapore as the second easiest country to do business in the world. Our four unicorns that have crossed the billion-dollar valuation are good examples of the power of the ecosystem. In my opinion, the European FinTech Hackcelerator is a great opportunity for entrepreneurs to scale their businesses in Asia”, adds Mr. Chia Hock Lai, President of Singapore Fintech Association.
Due to COVID-19 global pandemic, all activities within the programme will be held online. The application form to the European FinTech Hackcelerator can be found at www.europefh.com.