Source: Singapore FinTech Association
Singapore FinTech Association (“SFA”) and AMTD Group (“AMTD”) signed a Strategic Collaboration Agreement today.
This agreement aims to support and anchor Singapore’s FinTech community, maintaining Singapore’s leadership as one of the most energetic, sustainable FinTech ecosystems promoting innovation and entrepreneurship, and contributing to Singapore’s vision as a smart nation.
Through this collaboration, SFA will become a permanent Strategic Honorary Member of AMTD’s SpiderNet ecosystem and AMTD will also become a strategic partner of SFA. SFA and AMTD are committed to connecting each other’s ecosystems to maximise the synergies for all of their respective members, and empowering the members with wide-open, cross-regional, and cross-industry opportunities.
Speaking on the announcement, Chia Hock Lai, President of SFA commented, “As Singapore’s FinTech ecosystem continues to grow and mature, SFA strives to collaborate with strong ecosystem players to empower our FinTech community. We are glad that AMTD and SFA share the same vision and can bring our partnership to a new level.”
Calvin Choi, AMTD’s Chairman and CEO added, “Singapore has been a global leader in FinTech innovation. It is AMTD Digital’s headquarters and AMTD Group’s regional headquarters. There are growing needs from local FinTech start-ups to expand outside of Singapore and apply their technology in and learn from partners in other markets. The strategic partnership between AMTD and SFA would leverage on AMTD’s strong foundation in the Greater Bay Area and connectivity with the global markets, and further enable Singapore’s FinTech start-ups to connect outside of Southeast Asia.”
AMTD SFA Global FinTech Fellowship Programme
SFA and AMTD will jointly establish an AMTD SFA Global FinTech Fellowship Programme in Singapore. Each year, the programme will select up to 10 outstanding FinTech entrepreneurs with the most influential social impact and best vision. Each winner will be admitted into a five-year programme, in which they will be connected to the global FinTech community including those in Hong Kong, Greater Bay Area, Middle East, Europe and North America through various events initiated by both parties. In addition, an Honorary Advisor Committee will be established with representatives from AMTD, Hong Kong Cyberport and other partners joining the committee. Each winner will be assigned with an Honorary Advisor who will advise and guide the entrepreneurs on strategic planning, management skills and help them navigate through challenging times. Upon graduation from this five-year programme, the entrepreneurs will automatically become a permanent member of AMTD Global FinTech Leadership Club.
Commenting on the Fellowship Programme, Chia said, “SFA is excited to join hands with AMTD again to empower our FinTech community. Having a strategic partner that can connect Singapore’s FinTech players with the global market is essential to SFA’s global strategy, building upon SFA’s existing web of partnerships in over 40 countries.”
“AMTD SFA Global FinTech Fellowship Programme aims to empower and enable FinTech entrepreneurs, contribute to Singapore’s competitiveness as one of the most vibrant, leading FinTech centres in the world,” said Choi.
MAS-SFA-AMTD Solidarity Grant
The strategic partnership builds on SFA’s collaboration with AMTD in MAS-SFA-AMTD Solidarity Grant, in which SFA acts as the fund administrator of the Business Growth Grant (BGG) Scheme. The Grant Scheme has received over 250 applications so far and aims to foster the continued growth of Singapore-based FinTech companies and help offset their proof-of-concept costs; and it is still open for application.
Through this collaboration, SFA and AMTD will tap on each other’s ecosystem, network and resources, in response to the growing needs of Singapore’s FinTech community to connect beyond Singapore and enjoy better access to global capital markets.