Singapore's Investment Management Association opens startup accelerator

Source: Upgrade Pack

The Investment Management Association of Singapore (IMAS) today announced the launch of the Digital Accelerator Programme (DAP), an accelerator and mentorship programme aimed at Fintechs to help deliver solutions to a variety of challenges currently facing the investment management industry.

The programme will give Fintechs a unique opportunity to work with professional mentors and develop solutions that can be rapidly commercialised.

The global investment management industry today stands at the cusp of digital transformation. As the world continues to develop a new digital economy, investment managers and asset owners are increasingly embracing digital solutions to make their businesses more efficient and profitable.

Through the DAP, IMAS is combining the support of Government with the energy and creativity of the Fintech community, while applying the transformation strategies of large corporates to bring about transformative change in the investment management industry.

IMAS has worked closely with partners across the industry - including Schroders, KPMG Digital Village, UOB Asset Management, Aberdeen Standard Investments, BlackRock, UBS Asset Management, SGX, Nikko Asset Management, Ngee Ann Polytechnic, NUS Enterprise, Cognito and Dymon Asia - to identify key challenges where Fintechs can be leveraged to come up with workable solutions for the industry. This makes the DAP an initiative that is powered by the industry, for the industry.

Together with these partners, the DAP will address these key challenges, finding viable, digital solutions to these issues that will potentially help investment management firms reduce costs, and/or increase investment returns while delivering differentiated experiences. The Fintechs selected to take part in the DAP will respond to a given problem and work with a professional mentor to shape real-world, digital solutions for the industry.

Examples of these problems include how technology can be used to better predict, monitor and manage new regulatory obligations, and how alternative data models and analytics can be used to develop signals in order to deliver greater returns. All problem statements can be viewed here:

Carmen Wee, Chief Executive Officer, IMAS, commented: “Given that the investment management industry is on the verge of digital disruption, we need to constantly innovate and reinvent ourselves in order to remain globally competitive. We hope that the DAP will serve as a catalyst to speed up the adoption of new technology in investment management and ensure that Fintech firms are embedded into the asset management ecosystem.”

Jessica Shearer, Head of Digital Strategy & Propositions APAC, Schroders, and Chairperson, IMAS Digital Innovation Working Group, added: “As asset managers, our core competence is in investment management but in this modern era, we all need to embark on a digital transformation journey. Tapping into the Fintech community will enable us to be more agile, accelerate our digital agendas and also deliver innovative investment offerings and experiences to our clients.”

IMAS is calling on Fintech firms to apply to the DAP at Up to 10 firms will be shortlisted to take part in the initial programme, with the submission process closing on 8 April 2019. The DAP is open to all Fintech companies and related start-ups both locally and globally. Successful firms will demonstrate their ability to focus on building, adapting, evolving and commercializing solutions for the investment management industry.

The shortlisted Fintechs will receive travel allowances and professional mentorship from leading institutions to help refine their solutions for final showcasing at the IMAS Bloomberg Investment Conference 2019 on 9 May 2019, in front of a panel of judges. Prizes for up to three final winners will include embarking on a 4-week acceleration programme to help them rapidly commercialise their solutions; attractive funding to help accelerate their ideas; and access to professional mentors throughout this process.

As the largest buyside event in Singapore, the IMAS Bloomberg Investment Conference 2019 will serve as a high-level platform for the selected Fintechs to showcase their solutions in front of a suite of potential investors and corporate clients, including over 300 delegates from venture capital firms, hedge funds, traditional asset management firms, and family offices. This exclusive visibility provides the Fintechs with a key opportunity to commercialize their products with the support of the right partners.

Winning Fintechs will also be offered the chance to join IMAS as Associate Member (Fintech) and have access to its resources, events and networking opportunities.

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