DBS launches fintech accelerator in a JV with NEST

Visual from DBS Accelerator website

Singapore-based DBS has partnered with Hong Kong’s NEST to establish a new accelerator, called DBS Accelerator

Nest, a long-standing accelerator in Hong Kong, announced it will begin accepting applications for the new fintech-themed accelerator program launched in partnership with DBS bank.The accelerator will be housed in a 5000 square foot workspace located in the heart of Hong Kong’s Wan Chai district.

Focused on the fintech space, DBS Accelerator is seeking to invest in startups whose products are related to artificial intelligence, Big data & analytics, peer-to-peer (P2P) transactions, workflow and operational management, mobility and payments, risk monitoring and management security, as well as SME banking solutions.

A recent trend has emerged of corporate and corporate-sponsored accelerator programs, often termed corporate incubators & accelerators (CIAs). In this space, an establish corporation pays an accelerator to operate a programme and the format has grown increasingly common.

NEST has prior experience operating in the CIA space, operating a the AIA Accelerator with APAC health insurance firm AIA.

According to media, the startups joining the DBS program will be able to leverage on knowledge and expertise from DBS’s network as well as Nest’s internal team. The program is set to begin in early August and end in November with a Demo Day.

Fintech is of significant interest in Hong Kong, due to the robust finance industry and status as a global finance hub. This is combined with proximity to the immense capital markets of China and Japan. There is significant talent and expertise present, with some of the best-funded startups operating in the fintech space. For instance, P2P lending startup WeLab recently closed a $20 million Series A round, an indicator of the interest in this space.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.