MEDIA RELEASE

Press Release: Singapore FinTech Association and R3 partner to fast track startups in  Singapore’s blockchain ecosystem

• Startups under Singapore FinTech Association’s network can validate their business and product market fit through R3’s Venture Development Program

14th July 2020 – Singapore Fintech Association (SFA) and R3 entered into a strategic partnership. This partnership with the Singapore Fintech Association (SFA) and R3 enables startups in SFA’s network with access to Corda, the first purpose-built blockchain for enterprises, through R3’s Venture Development program.

With the aim to support early stage companies to be successful, R3’s Venture Development program is the gateway into R3’s ecosystem for all pre-series A companies building on Corda. The program is designed to help startups validate their business and product market fit faster through community events, workshops, mentorship from industry leaders and access to prospects and investors.

With more than 350 participants, the thriving ecosystem building on Corda exemplifies the possibilities that this exciting technology offers as these firms bring more applications built on Corda (CorDapps) live to reduce costs, create new revenue streams or reshape entire markets.

R3’s partnership with SFA is the latest in R3’s long-term commitment to Singapore’s blockchain ecosystem, including partnerships with IMDA’s OpenNodes initiative, Tribe Accelerator, F10, and LongHash. R3 will also be in participation at Singapore Blockchain Week 2020 with Todd McDonald, R3’s Co-Founder and Chief Product Officer, sharing his thoughts on the panel titled: “Asset Tokenisation: STOs, Issuance, Distribution” on 21 July 2020, 3:30pm – 4:00pm SGT.

Interested startups can apply for R3’s Venture Development program here. 

Quotes:

SFA President Mr. Chia Hock Lai said, “The SFA is thrilled to work with R3 on their Venture Development Program,” says Mr. Chia Hock Lai, President of the Singapore FinTech Association. “This type of collaboration between organizations with the purpose of supporting early stage blockchain companies in their venture journey is what SFA seeks in order to create a stronger, inclusive FinTech ecosystem.”

Ivar Wiersma, R3 Head of Venture Development said: “R3 is honoured to work with SFA to help grow the next generation of innovators in Singapore. Singapore is at the forefront of digital transformation and R3 will continue to support local startups and contribute to the development of Singapore as an innovation hub. We believe R3’s Venture Development Program is the perfect opportunity for brave entrepreneurs and new startups to accelerate their business with the use of Corda—and leverage its ecosystem of over 350 participants. Every application built on Corda, regardless of size and stage, deserves a supportive partner like R3 that will ensure their continuity and success.”