Fintech incubator and accelerator, F10, has announced its partnership with Seoul Fintech Lab and K Accelerator for a program to help startups build and grow in South Korea.
The Seoul Fintech Lab is funded by the Seoul Metropolitan government and the plan of the partnership is to fund early and growth-stage startups and get them to the next level so that they are business ready.
Jonas Thuerig, Country Success Lead for F10 Singapore shared, “The South Korean fintech startup scene is growing rapidly and the large pool of talented entrepreneurs has big potential for transformative and disruptive solutions to gain ground in the financial industry globally. We are excited to partner with K Accelerator and Seoul Fintech Lab”.
The program will be for 6 weeks and it is expected to start in July and F10 would be selecting the 10 most promising startups for participation in the program. This is expected to be a boost to the startup scene in the fintech sector as far as South Korea is considered.
At the present time, the fintech sector is where a lot of innovation and changes are happening and there are many startups that are coming up in this space all over the world. They have been disrupting the financial sector and they need all the support that they can get in such a competitive domain as fintech.
Young Soh, Head of Seoul Fintech Lab said,“Singapore is the country with the highest demand for Seoul Fintech Lab startups’ to enter.
Through this collaborative programme with F10 Singapore will provide practical help for startups to successfully settle in Singapore and Southeast Asian markets”.
South Korea and Singapore are also two of the most sought-after locations for fintech startups as their banking sector and regulations are very open to innovation. These are also the regions where crypto companies are also open to operate and this open environment is a boon for many startups which are expected to flourish.
K accelerator is a fintech startup support center and there are likely to provide all the support that these startups would need along with F10 which would not only provide guidance but would also help these companies in their funding and investment journey so that these startups can focus on build technology and innovation while they traverse through the more intricate journey of regulation, documentation, etc.