A right blend of ingredients are required for startups to succeed – a great product, the right leader and team, and a strong network of mentors are just a few of them.
By nurturing and supporting the next generation of fintech startups, PayPal Incubator aims to play a part in doing just that. The program offers an innovative environment where entrepreneurs can grow by having access to talent and connections.
“The program aims to work with the Singapore government to nurture and mentor local fintech startups. Through this initiative, startups will have access to the prime co-working space at PayPal’s Singapore office, structured learning conducted by experts in the fintech industry on Finance and Technology topics, mentorship by PayPal executives and subject matter experts, as well as access to funding through PayPal’s network and VC connections.” said Jerry Tso, Director, Software Development and Head of Singapore Development Center.
Since its inception in 2016, PayPal Incubator has seen three startups (Axinan, InvoiceInterchange, and TenX) graduate from its first cohort. Come 14 March, PayPal will be conducting a Demo Day, where another three of its graduating startups will showcase their products and share their journey with the program.
On top of that, look forward to a panel discussion with these businesses on how they worked with investors, corporates and other partners to supercharge their companies.
Click on the button below to register your interest by 8 March to secure your seats. As this is an invite-only event, successful applicants will be notified via email by 9 March. Event details can be found below.
Learn more about these three graduating startups (in alphabetical order):
Chynge provides a decentralized software solution to manage money transfers between countries to make payments more efficient. Chynge holds the vision to make cross-border payments that are immediate, free, and safe powered by their smart compliance and blockchain. This financial inclusive solution puts money back into the customers’ pockets and into communities to make for a better world.
After customers key in their information into Chynge’s app, they can then visit a remittance office for a one-time face-to-face verification with a teller. Upon verification of the account, customers send remittance instructions through the app, instead of having to make their way down to the office.
On how PayPal Incubator has helped his startup, CEO and Founder, Joe Tusin said, “The PayPal Innovation Lab is an amazing program. We are thick in the fabric of PayPal operations, in the heart of the PayPal office, with unbridled access to resources from the Senior Vice President, down to the deepest reaches of his team.”
jumper.ai prides itself as the fastest way to buy, sell and collect payments on different social media channels within one interface, making ecommerce transactions a breeze. Whether sales are done via Facebook, Instagram, Twitter or YouTube, jumper.ai is able to integrate on all these channels and turn those posts into a direct point of sale.
With the use of artificial intelligence, jumper.ai sends an instant reply the moment users comment on the social media post, bringing businesses to where their customers are at.
Yash Kotak, CEO and Co-founder of jumper.ai, expressed: “As jumper.ai integrates within social media, it was critical for us to partner with PayPal to enable our merchants to collect payments and offer buyer protection. Being a part of PayPal Incubator not only accelerated the integrations, but also enabled us to develop a completely new experience for payments on social media – especially on Messenger. To top it all, we received hands-on support and guidance from key stakeholders at PayPal on a spectrum encompassing sales, marketing and growth.”
PolicyPal is a digital direct insurance broker that enables individuals to buy, manage and optimise their insurance policies. It is also Singapore’s first graduate from Monetary of Singapore (MAS) fintech regulatory sandbox.
By using Optical Character Recognition (OCR), the software scans and analyses insurance policies to present a comprehensive overview of coverage information to users within 30 seconds. This is achieved by cross-referencing an immense database of insurance premiums, coverage and jargons from 27 insurance companies in Singapore. Through the policies uploaded, users will get an overview of their existing insurance portfolio, current coverage and personalised recommendations on the optimal coverage they should attain.
PolicyPal is also building up PolicyPal.Network, a platform that is built on a two-fold vision of addressing key issues that overlap the fields of both insurance and cryptocurrencies in the world today. The aim is to lower the barriers associated with traditional insurance coverage for millions of unbanked people. Also, PolicyPal Network will be introducing CryptoProtect to both commercial companies and individual investors against a loss of funds resulting from operational deficiencies such as hacks.
“Being part of PayPal Incubator played a huge role in growing PolicyPal. One of the greatest benefit is the ability to tap into a strong network of business partners. It has jump-started our company and brought us to where we are today. The value that our mentors have brought to us has been instrumental in our success,” Val Yap, CEO & Director of PolicyPal shared.
To register your interest for the Demo Day, simply sign up here by 8 March. Successful applicants will be notified via email by 9 March.
Startups that are interested to apply for PayPal Incubator can do so here.
Date: 14 March 2018, Wednesday
Time: 5:30pm to 9:00pm
Event venue will be included in the confirmation email.
This post 3 startups graduating from PayPal Incubator appeared first on Tech in Asia.