Frequently Asked Questions

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Frequently Asked Questions

GENERAL ENQUIRIES

What is The FinLab?

We are an accelerator programme focused on financial technology, also known as FinTech. The partnership with UOB, one of the leading banks in Asia and SGInnovate, one of the largest venture capital funds in Singapore means we have all that it takes to propel your FinTech ideas into reality.

Does my company have to be incorporated in Singapore?

In order for your team to take advantage of the many follow-on funding and grants available in the country, we strongly recommend you to incorporate your startup in Singapore.

SELECTION AND EVALUATION

How many start-ups will you be selecting?

We are looking at up to 10 startups per batch and our focus will be on the quality and potential of the startups rather than the number of startups.

Are there any geographical restrictions for the programme?

No. We welcome all startups worldwide as long as the team is able to commit to work in Singapore for the full duration of the programme. We will link you up with the relevant authorities to process your visas and company incorporation.

How is the selection process structured?

There are a total of 3 rounds to the selection process. Upon advancement to the next round, you will be notified on what is required next.

What is the selection criteria based upon? What does it take to get accepted to your accelerator programme?

We look for 3 key aspects: 1) Team and its ability to execute, 2) Innovative offering (e.g. does it solve a problem that is worth paying for) and 3) Business model.

What if our startup is not FinTech-related?

We regret to inform you that it is highly likely that your team may not be selected. For a list of the startup focus areas we are looking for, please refer to ARE YOU THE ONE? page.

APPLYING TO THE PROGRAMME

We have a cool idea that we have not started working on as yet. Is my company too early to apply for your accelerator programme?

For us to help you get the most out of the programme, we are looking for startups that have at least developed a MVP (Minimal Viable Product). If your idea is still raw, we suggest that you join a pre-acceleration programme (e.g. TAG.PASS) which will take you through the ideation phase and help you firm up your idea. In general, we are looking for start-ups with users, customers and has shown some form of traction.

Do I need a business plan and a mature idea in order to apply?

Simply drop us an email titled “Application” with either a slide deck or video, and include your 1) Team details, 2) Problem statement and 3) Solution. 

I do not have a team as yet. Can I apply as an individual?

Teams are generally preferred. We strongly recommend that you form a team prior to joining us.

We do not need investments now. Would it make sense to join your programme?

What makes The FinLab one of the best programmes around is not only the investment but the highly-qualified mentors to depend on, strong financial infrastructure and services to tap on, wide connections in Asia to leverage on, and our desire to truly provide our customers with the best services, based on data insights and analytics, and through partnerships with the best FinTechs, that make us special.

We have already raised our seed money / not an early stage start-up / already went through another accelerator. Can we still apply?

The programme is open to all companies in the startup phase (e.g. first 3 years). It is designed to accelerate your startup to the next level of growth by leveraging on our deep expertise, broad experience, wide connections and valuable resources.