US asset manager Franklin Templeton has officially opened a fintech incubator in Singapore.
The Franklin Templeton Singapore Fintech Incubator is aimed at early-stage fintechs working in fields such as blockchain, digital distribution, data science, predictive behavioural analytics and wealth management technology.
It has been launched in partnership with F10 Global Innovation Network Singapore, which describes itself as a global innovation ecosystem.
Franklin Templeton has committed to providing each startup in the incubator with a minimum US$150,000 in seed funding.
The first fintech selected for the program is BetterData, a data management tool that uses artificial intelligence.
“The official opening of the incubator comes at a time when FinTech startups are poised for further growth across the region,” said Tariq Ahmad, co-head of APAC at Franklin Templeton.
“We will continue to seek collaborations with agile and promising startups to strengthen Singapore's role as a regional innovation hub and deepen collaboration within Asia Pacific's vibrant FinTech ecosystem.”
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