Franklin Templeton selects the first startup to join the first Franklin Templeton Singapore FinTech Incubator

by James · July 27, 2022

Aims to support Asia Pacific startups with seed capital over a two-year incubation period

HONG KONG, 28 June 2022 /PRNewswire/ — Franklin Templeton, one of the world’s largest independent asset managers, today officially opened its first Asian FinTech incubator in the heart of Singapore. The new Franklin Templeton Singapore FinTech Incubator is a joint incubation program for early-stage FinTech startups in partnership with F10 Global Innovation Network Singapore Pte. Ltd. (“F10”).

Located in the heart of Singapore’s business district at the 80RR FinTech Hub, the incubator focuses on supporting early-stage FinTech companies in the areas of blockchain, digital distribution and wealth management technology, InsurTech, sustainability, data science and predictive behavioral analytics, among others. Franklin Templeton will give startups in this incubator the minimum USD 150,000 each in seed funding.

BetterData is the first startup selected from over 30 applications for the Franklin Templeton Singapore FinTech Incubator. BetterData is a one-stop data platform that aims to improve data quality, bridge data gaps and correct data biases by converting limited real data into unlimited synthetic data that is faster and more secure. By combining cutting-edge AI models and privacy-preserving techniques, BetterData helps improve data-driven processes, reduce costs with near-instant data access, and increase revenue streams in the financial sector.

Tariq Ahmadco-head of APAC at Franklin Templeton, said: “In line with the Monetary Authority of Singapore’s push to nurture a culture of innovation in the financial sector, we are pleased to officially launch the Franklin Templeton Singapore Incubator program, demonstrating our commitment to supporting the next generation of FinTech startups. The official opening of the incubator comes at a time when FinTech startups are poised for further growth across the region. We will continue to seek cooperation with agile and promising startups to strengthen Singapore’s role as a regional innovation hub and deepen cooperation within Asia Pacific vibrant FinTech ecosystem.”

Use Javaidco-founder and CEO, and Kevin Yeeco-founder and CTO of BetterData, said: “We are thrilled to be part of the Franklin Templeton Singapore Incubator program. Access to quality data is fundamental to Singapore’s digitization and innovation agenda, and we believe that synthetic data – with its ability to overcome real data limitations and usage limitations – is the future of open data innovation. We plan to scale our business and achieve our vision of being the leading provider of synthetic data in APAC with the guidance, mentoring, funding and network support of Franklin Templeton.”

The Franklin Templeton Singapore FinTech Incubator is part of Franklin Templeton’s broader commitment to invest in innovation to meet tomorrow’s challenges. Franklin Templeton’s Singapore FinTech team is responsible for the day-to-day management and operation of this incubator.

Margaret KingVP, FinTech Partnerships & Corporate Strategic Investments at Franklin Templeton said: “Singapore’s role as the leading collection and innovation center for Asia Pacific startups have grown on the back of rising FinTech fundraising levels. With stewardship, expertise and support from our local Singapore-based FinTech team, we seek to support creative startups across the region through the first Franklin Templeton Singapore FinTech Incubator. This program also builds on the success of our FinTech incubator in Silicon Valley, and we encourage more startups in Asia Pacific to join our program to catalyze innovative solutions in fields such as blockchain, alternative data, wealth management and green technology. Together, we can transform the way asset management is delivered and experienced throughout the region.”

The grand opening of the Franklin Templeton Singapore FinTech Incubator today showcased leading FinTech companies that have emerged from Franklin Templeton’s global incubator program, as well as the firm’s key startup partners in Asia Pacific region. They include:

Brelyon, a technology pioneer in hardware and software technology for headset-less experiences headquartered in San Mateo, California
Autumn, a first-in-market wealth, health and lifestyle consumer platform headquartered in Singapore
Coherent, a Hong Kong-based software company that helps insurance companies transform their business and workflow processes
Quantifeed, a Hong Kong-based digital asset management platform for financial institutions

In addition to the seed funding, selected startups for the Franklin Templeton Singapore FinTech Incubator will be able to use Franklin Templeton and F10’s well-curated incubation curriculum, including a two-year residency, individualized milestone-based programming, and receive extensive mentoring and guidance by Franklin Templeton and F10. Startups can further benefit from F10’s ecosystem of over 120 venture capitalists, a strong global corporate partner network in the financial services industry and a strong mentor network of over 70 individuals.

Applications for the Franklin Templeton Singapore FinTech Incubator are open, with the first phase of the program starting in the July 2022. Startups that apply will be considered for admission to the Franklin Templeton Singapore FinTech Incubator and may be considered for partnership opportunities with Franklin Templeton, including early business unit exposure, technology management and potential Beta customer trials and early funding. For more information, including how to apply for the incubation program, please visit: https://www.f10.global/program/franklin-templeton.

About Franklin Templeton

Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton serving clients in over 155 countries. Franklin Templeton’s mission is to help clients achieve better results through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers boutique specialization on a global scale, providing comprehensive capabilities in equities, fixed income, multi-asset solutions and alternatives. With offices in more than 30 countries and approximately 1,300 investment professionals California-based company has 75 years of investment experience and approx 1.45 trillion dollars in funds under management per May 31st2022. For more information, please visit www.franklintempleton.com.sg and follow us on LinkedIn, Twitter and Facebook.

About F10

F10 is a global innovation ecosystem with offices in Zurich, Singapore, Madridand Barcelona. F10’s mission is to unite technology startups with large corporations to shape the future of banking, insurance and more. With its incubators and accelerators covering the fields of FinTech, InsurTech, RegTech and DeepTech, F10 supports and guides startups in transforming their ideas into successful companies while stimulating collaboration with international organizations. For more information, please visit www.f10.global.

Franklin Templeton Investments (Asia) Limited and Legg Mason Asset Management Hong Kong Limited are the issuers of this document. The comments, opinions and estimates herein are based on or derived from publicly available information from sources Franklin Templeton believes to be reliable. Franklin Templeton does not guarantee their accuracy. This document is for informational purposes only. This document is based on updates from Franklin Templeton, ClearBridge Investments, Royce Investment Partners and Western Asset, subsidiaries of Franklin Templeton. The views expressed are opinions about Jeff Schulze, John Bellows, Francis Gannon and Gene Podkaminer as of the date of this document and may change based on market and other conditions without notice and may differ from other investment professionals or from Franklin Templeton as a whole. The collateral provided (if any) is for illustrative purposes only and is not necessarily indicative of a Portfolio’s holdings at any given time. It is not a recommendation to buy, sell or hold any particular security. This document is not intended to provide investment advice. Investments involve risk. Where past results are given, such figures are not indicative of future performance.

The underlying assumptions and these views are subject to change without notice. There is no guarantee that any expressed forecasts will be realized. Neither Franklin Templeton, its affiliates nor any officer or employee of Franklin Templeton accepts any responsibility for any direct or indirect consequential loss arising from the use of this document or any information, opinion or estimate contained herein. This document has not been reviewed by the Securities and Futures Commission of Hong Kong.

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Legg Mason Asset Management Hong Kong Limited is an indirect wholly owned subsidiary of Franklin Resources, Inc.

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