The accelerator program run through Singapore-based FinLab will open applications to Indian fintechs to offer the nation access to world’s best growth markets.
Better access to global markets, connections to government and business, and mentorship opportunities are being touted as crucial for the development of India’s fintech scene, and is now being made possible through the FinLab accelerator program.
A joint venture from United Overseas Bank (UOB) and Singapore Innovate (SI), FinLab would focus on start-ups with solutions for more customer-focused offerings in the retail, SME, and commercial banking spaces.
Fintechs focused on in blockchain, security and encryption, data analytics, risk and wealth management, and mobile payments solutions around three years old would be eligible to apply for inclusion.
The inclusion in the program was a positive step forward for the Indian start-up sector, which also today announced the development of an advisery committee to be established by the Securities Exchange Board of India (SEBI) to boost investment in the Indian tech economy.