Singapore FinTech Association launches new innovation lab

via FinTech Futures

The Singapore FinTech Association (SFA) has launched an innovation lab focused on helping start-ups connect with businesses in the country.

Nexia InnoLab is a new venture spearheaded by the association and advisory company Nexia TS.

The pair have signed a memorandum of understanding (MoU). It will see Nexia TS offer its consultancy services to new start-ups involved in the lab.

“SFA is excited to partner with Nexia TS to provide free business advisory clinic to fintech firms,” says Chia Hock Lai, president of the SFA.

“SFA members can look forward to co-creating technological solutions with businesses from various sectors through the collaboration.”

Lai says the timing of the deal is fortuitous as firms continue to seek to rebuild following the coronavirus pandemic.

Clinics at the InnoLab focus on taxation, valuation, cashflow planning, compliance, and the launching of initial public offerings (IPOs).

“As more new-age fintech players emerge in the post-COVID-19 market, we see an immediate need to connect these stakeholders in a holistic digital ecosystem,” says Henry Tan, group CEO and chief innovation officer at Nexia TS.

Separately this week the SFA has launched a new grants and jobs portal focused on the fintech sector.

The portal currently has “over 500 job postings” and will enable job seekers to access vacancies, available grants, and training opportunities.