Thomson Reuters is partnering with Startupbootcamp to bring technology and market data access to startups that are participating in the firm's accelerator program in Singapore.
Startupbootcamp is a global network of industry-focused startup accelerators. The company gives entrepreneurs and early-stage companies direct access to an international network of partners, investors and mentors in their sector to help refine their business models and raise capital.
Each team participating in the Singapore program will receive SGD 24,500 in funding and office space for three months in Singapore as well as guidance on business development from industry experts. The program culminates with a "demo day" where the startups present their business plans and gain exposure to venture capital firms and other potential investors. In return, Startupbootcamp receives 6% equity in the new firms.
Thomson Reuters has agreed to provide technology and market data access to the teams participating in the Singapore program. Thomson Reuters also will be involved in the evaluation process and mentorship for the program.
“Asia is a hot bed of fntech talent," said Sanjeev Chatrath, managing director, Thomson Reuters. "The new partnership with Startupbootcamp reinforces our commitment to creating an open environment and promoting cooperation within the fintech ecosystem in the region. By partnering with Thomson Reuters, startups can make connections that they, with little or no operational history, might otherwise find hard to achieve.”
Other firms that are partnering with the Singapore accelerator program include two Asia-focused venture capital firms, Jungle Ventures and Pix Vine Capital, as well as banks such as Banco Intesa Sanpaolo, CIMB, DBS and RHB.