One of the world’s biggest independent asset management firms, Franklin Templeton announced a partnership with F10, a prominent startup accelerator and incubator, today for the launch of an incubation program in Singapore to support early-stage financial technology (fintech) startups.
Dubbed ‘FT Singapore FinTech Incubator’, the incubation program aims to help promising startups in Singapore and the region. The two-year program will start in July this year. Companies selected for the program will be able to receive seed funding from Franklin Templeton.
Franklin Resources, a global investment management organization with subsidiaries operating as Franklin Templeton, is listed on NYSE. The company termed the latest partnership with F10 as an important step towards its fintech strategy in Asia.
Joe Boerio, the EVP, Chief Risk & Transformation Officer at Franklin Templeton, said: “Following the successful launch of our inaugural FinTech incubator in Silicon Valley, we are pleased to partner with F10 to expand on our global incubation program in Singapore and to help nurture and support startups that would revolutionize the financial industry with their creativity and technology.”
Asia’s Fintech Ecosystem
Fintech firms in Asia have seen a surge in investments during the past 12 months. While global fintech funding touched a record high in 2021, financial technology platforms in India, Singapore and China have attracted more investments compared to some of the other regions. Through collaboration with F10, Franklin Templeton aims to facilitate the adoption of innovative technologies in the global financial services industry.
“We at F10 believe that the fastest route to innovation is through collaboration. The vast and continued growth of FinTech adoption in Asia is now a fantastic opportunity for Franklin Templeton to incubate the next generation of promising FinTech startups in Singapore. Franklin Templeton’s experience of working with startups in North America paired with F10’s well-established incubation programs in Singapore offers a unique opportunity for founders from across APAC (Asia Pacific) to join the program,” Jonas Thürig, the Head of F10 Singapore, said.
