Deal Fridays Launched in Singapore to Increase Tech Investment
The Singapore FinTech Festival and Singapore Week of Innovation and Technology together with the Monetary Authority Singapore aiming to streamline funding for start-ups and increase investment with Deal Fridays - curated meetings aimed to match up investors and start-ups.
The Singapore FinTech Festival (SFF) has merged with Singapore Week of Innovation and Technology (SWITCH), and together with the Monetary Authority Singapore (MAS) have launched Deal Fridays, aiming to streamline funding for start-ups and increase investment in the city state.
Starting on 21st June and running until the 25th October, the Deal Friday events will be curated meetings aimed to make meeting suitable investors for technology and other firms easier. Every Friday will have a theme, such as fintech, technology, and transport confirmed Peter Ong, the chairman of Enterprise Singapore and board member of MAS.
Finding the right backer for a start-up is notoriously time consuming, taking entrepreneurs away from developing their business. By bringing the right companies and investors together it will take a lot of the work out of getting funding.
Aiming for Investment
Sopendu Mohanty, Chief Fintech Officer for MAS, said the aim for investors and inventors to see “Singapore as the place to raise global capital for start-ups,” when he was launching the SFF x SWITCH festival earlier this week.
He said that the aim is to bring more that SG$1billion of new investment and wants to make Singapore the global Asian node for technology.
The joint festival will run from 11th – 15th November in Singapore, with 19 Deal Fridays scheduled before then. Over 40,000 start-ups from fintech and other sectors are expected to be a part of the weekly events.