Franklin Templeton, F10 to launch incubator for early-stage fintech startups

GLOBAL asset management firm Franklin Templeton and F10 Global Innovation Network Singapore are launching a joint incubation programme in Singapore targeted at early-stage fintech startups.

Startups under the 2-year incubation programme will each receive US$150,000 in seed funding from Franklin Templeton. They will also be housed at the 80RR Fintech Hub in Singapore's business district.

The programme, named the FT Singapore FinTech Incubator, will start in July 2022, F10 and Franklin Templeton said in a press statement on Wednesday (Feb 9).

Both parties are looking to incubate fintech startups in core technology areas such as artificial intelligence or machine learning, capital markets technology, cybersecurity, blockchain, and wealth management technology, among others.

"The focus will be on fintech ideas that represent strategic areas of growth and disruption for Franklin Templeton and its businesses," F10 and Franklin Templeton noted.

Selected startups will be able to tap F10's incubation curriculum - residency, individualised milestone-based programme and also receive mentoring from both F10 and Franklin Templeton.

They may also be considered for collaboration opportunities with Franklin Templeton, including early business unit exposure, technology steering and potential Beta customer trials.