PRESS RELEASE • 27 JUNE 2018
DBS Accelerator Demo Day fast forwards to FinTech Future
11 startups showcase innovative FinTech solutions to hundreds of potential investors.
Potential investors and members of the local startup community at DBS Accelerator Demo Day got a sneak peek at the future of banking, as the founders of 11 startups from Hong Kong and around the world showcased impactful FinTech solutions to enhance the customer’s digital journey, data analytics, compliance transformation and more.
The 11 startups are Avoka, CUBE, cyberProductivity, Dathena Science, DOV-E, FinChat, Fractal Labs, Hyper Anna, Perx Technologies, Privé Technologies, and Squirro. They were selected from more than 180 applicants from around the world, including Hong Kong, Singapore, Israel, Switzerland, the UK and Australia. Their participation in the programme resulted in 26 use cases, of which about one-third are confirmed or potential proofs of concept.
Since the successful launch of DBS Accelerator in 2015, over USD16 million in funding has been raised, with all of the programme’s startup alumni successfully securing funding support or expanding their business in Hong Kong as a result of their participation.
With the digital revolution, DBS, which marks a milestone 50th anniversary in 2018, is a pioneering force in transforming the way banks serve, engage and interact with customers though FinTech innovation. This is reflected in the bold new positioning of “Live more, Bank less”, which embodies the belief that the bank needs to remain at the forefront of change in the next 50 years and beyond.
DBS Bank (Hong Kong) CEO Sebastian Paredes said, “New and innovative technologies are the game changers for financial services today and in the future. Through the success of DBS Accelerator and the Demo Day, we are actively helping to build an enabling FinTech ecosystem for innovation to flourish, by transforming how people access financial services, and making the market more accessible for innovative entrepreneurs and startups.”
Nest CEO Lawrence Morgan said, “At Demo Day, we are celebrating the phenomenal progress that the startups have made in commercialising and scaling their FinTech businesses in Hong Kong. At Nest, we believe that startup-corporate collaboration is a powerful way to drive innovation. We redesigned the programme to facilitate open innovation and collaboration, and we are excited to witness the business traction the startups have achieved throughout the programme.”
About DBS Accelerator
DBS Accelerator is a collaborative initiative between DBS Bank (Hong Kong) Limited and Nest, a global innovation platform supporting entrepreneurs. The “always-on” accelerator programme is housed in “The Vault”, a state-of-the-art 5,000-square foot workspace in the heart of Wan Chai. Participating startups have access to vast resources and mentor support, and are guided through their business growth and development.
DBS Accelerator is also supported by industry leading partners, including Amazon Web Services, Bird & Bird, HKUST Business School, IBM, InvestHK, and Thomson Reuters. Ovolo Hotels is the programme’s accommodation partner.
Connect · Collaborate · Scale
Nest operates corporate accelerator programmes, invests in seed to growth-stage startups, and runs an entrepreneurial community called Mettā. Nest has built an innovation ecosystem to connect the fast-growing markets of Asia, the Middle East, and Africa.
With a mission to empower great entrepreneurs to change the way we live, Nest provides access - for startups to scale and commercialise; and for corporates to foster innovation. Since 2015, over 140 startups have been accelerated via Nest’s corporate and government programmes across a broad range of industry sectors.
DBS is a leading financial services group in Asia, with over 280 branches across 18 markets. Headquartered and listed in Singapore, DBS has a growing presence in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings, is among the highest in the world.
DBS is at the forefront of leveraging digital technology to shape the future of banking, and has been named “World’s Best Digital Bank” by Euromoney. The bank has also been recognised for its leadership in the region, having been named “Asia’s Best Bank” by several publications including The Banker, Global Finance, IFR Asia and Euromoney since 2012. In addition, the bank has been named “Safest Bank in Asia” by Global Finance for eight consecutive years from 2009 to 2016.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 24,000 staff, representing over 40 nationalities.