A spin-off company from NUS, Breathonix Pte Ltd, has developed an easy-to-use breath test to detect COVID-19 within a minute.
This innovative technology, which is believed to be the first in Asia, has achieved more than 90 per cent accuracy in a Singapore-based pilot clinical trial that involved 180 patients.
Breathonix was founded by NUS graduates, Dr Jia Zhunan and Mr Du Fang, and is supported by the NUS Graduate Research Innovation Programme, a programme that encourages the University’s graduate students and research staff to establish and run high potential start-ups based on deep technologies.
“Our breath test is easy to administer, and it does not require specially-trained staff or laboratory processing. Results are generated in real-time, making it an attractive solution for mass screening, especially in areas with high human traffic. We believe our breath analysis platform shows promise in changing the tides of this pandemic,” said Dr Jia, Chief Executive Officer of Breathonix.
Quick real time diagnosis
The revolutionary breath analysis technology developed by Breathonix offers a fast and convenient solution to identify COVID-19 infection. It works by detecting Volatile Organic Compounds (VOCs) present in a person’s exhaled breath.
Dr Jia explained, “VOCs are consistently produced by various biochemical reactions in human cells. Different diseases cause specific changes to the compounds, resulting in detectable changes in a person’s breath profile. As such, VOCs can be measured as markers for diseases like COVID-19.”
The test is simple to administer. A person only needs to blow into a disposable mouthpiece connected to a high-precision breath sampler. The exhaled breath is collected and fed into a cutting-edge mass spectrometer for measurement. A machine learning software analyses the VOC profile and generates the result in less than a minute.
“The disposable mouthpiece that our system uses has a one-way valve and a saliva trap, preventing inhalation and any saliva from entering the machine. This makes cross-contamination unlikely,” said Mr Du, Chief Operating Officer of Breathonix.
Pilot clinical trial conducted in Singapore
The team at Breathonix collaborated with the National Centre for Infectious Diseases (NCID), to test their breath analysis system for COVID-19 detection.
In a pilot clinical trial involving 180 patients, Breathonix’s breath test, which uses in-built machine learning algorithms, achieved more than 90 per cent accuracy, with sensitivity-correctly identify those with the disease of 93 per cent, and specificity – correctly identify those without the disease of 95 per cent.
The clinical trial is ongoing, and more tests are required to further improve the accuracy of the technology.
If assessed to be suitable, this breath analysis platform could potentially be deployed in airports to facilitate the recovery of the tourism sector, as well as in places with high human traffic, such as dormitories.
The NUS GRIP team led by Professor Freddy Boey, Deputy President (Innovation & Enterprise), is providing advice to Breathonix to obtain regulatory approvals for their technology and to deploy their system for mass screening.
Prof Boey said, “The novel technology to analyse VOCs accurately and quickly was first developed by Dr Jia Zhunan when she was a PhD student, for early detection of lung cancer. The technology was birthed through NUS GRIP, into the start-up Breathonix, and it is now contributing to Singapore’s fight against COVID-19. This demonstrates the huge potential of Singapore’s home-grown technologies and deep-tech start-ups. NUS is proud of the progress Breathonix has made since its inception, and we look forward to seeing their technology being deployed in Singapore in the near future to protect the health and well-being of the community.”
Photo – Breathonix is founded by Dr Jia Zhunan (left) and Mr Du Fang (middle). With them is NUS Deputy President (Innovation & Enterprise) Professor Freddy Boey (right).
The Monetary Authority of Singapore (MAS) announced this week that eligible non-bank financial institutions (NFIs) will have direct access to the banking system’s retail payments infrastructure from February 2021.
This applies to non-bank financial institutions that are licenced as major payment institutions under the Payment Services Act, they will be allowed to connect directly to Fast and Secure Transfers (FAST) and PayNow.
FAST is an electronic funds transfer service that enables customers of participating entities to transfer Singapore dollar funds from one entity to another instantly.
PayNow is an overlay central addressing service that runs on top of the FAST payment system. PayNow allows consumers and businesses to make instant payments across accounts using a proxy such as a mobile number, NRIC/FIN number, or Unique Entity Number (UEN). FAST and PayNow is also available 24/7, 365 days of the year.
Direct connection to FAST and PayNow will enable users of NFI e-wallets to make real-time funds transfers between bank accounts and e-wallets as well as across different e-wallets. Currently, most e-wallets require the use of debit or credit cards to top-up funds, and funds transfers between e-wallets are not possible.
Mr Ravi Menon, Managing Director of MAS said, “Direct access by NFIs to FAST and PayNow closes the last-mile gap in Singapore’s e-payments journey. Consumers who may not have ready access to debit or credit cards to fund their e-wallets will now have the option to do so directly through their bank accounts.”
“Our vision to enable complete real-time payments interoperability will now become a reality. Adoption of e-payments will become even more simple for individuals and businesses. MAS thanks the members of the DFWG for their spirit of partnership that brought to fruition this major milestone for e-payments in Singapore.”
Businesses that partner any of the 23 FAST or 9 PayNow banks, or e-wallets that have traditionally been closed-loop ecosystems will soon be able to receive real-time payments from other users of e-wallets or mobile banking applications that will be joining FAST or PayNow. This will enable businesses to access a larger market of consumers than before for receiving e-payments instantly and seamlessly.
NFIs will be able to connect directly through a new Application Programming Interface (API) payment gateway developed by the Direct FAST Working Group (DFWG), with guidance from the Singapore Clearing House Association (SCHA) and The Association of Banks in Singapore (ABS), which govern FAST and PayNow respectively.
The API payment gateway is better geared to the technology architecture of banks and NFIs, and can also be used by other banks and NFIs in future.
To cater to the needs of the elderly in Hong Kong and the Greater Bay Area, the Hong Kong Applied Science and Technology Research Institute (ASTRI) is developing a smart companion pet dog which can chat in Cantonese and Mandarin and can even remind the elderly to take their medicine when the Bluetooth function is enabled.
The smart pet dog is expected to be launched in phases next year and is expected to sell for less than HKD 1,500 each. Eligible local elderly and rehabilitation service units can apply to the Social Welfare Department for the “Innovation and Technology Fund for Application in Elderly and Rehabilitation Care” and get subsidies for their purchase.
ASTRI introduced the smart pet dog during the four-day Gerontech and Innovation Expo cum Summit 2020 from 19 – 22 November 2020. ASTRI has been applying its cutting-edge technology and innovation to address societal pain points. This smart pet dog can support elderly care as Hong Kong faces challenges associated with an ageing population.
The project coordinator and Associate Principal Engineer at ASTRI stated that through the subsidy of Innovation and Technology Fund for Application in Elderly and Rehabilitation Care provided by the Social Welfare Department, ASTRI introduced the smart pet dog which originally had Japanese language capabilities to Hong Kong intending to enhance and localise it to suit the needs of the elderly here.
About 200 to 300 sets of Cantonese and Putonghua dialogues will be added to the smart pet dog so that it can “listen” to the elderly in Hong Kong and the Mainland and respond accordingly. Such a response can include caring and greeting the host, as well as greeting and talking endearingly.
At the beginning of next year, the team will collaborate with the Evangelical Lutheran Church Social Service to arrange smart pet dogs to be companions for hundreds of elderly people who live alone and stay in daycare centres, community centres and elderly homes to better understand the needs of the elderly in Hong Kong and optimise their conversations.
The project coordinator said that a company has already indicated an interest in commercialising the smart pet dog. It is expected to be sold in Hong Kong, the Greater Bay Area and other parts of China in phases from mid-2021 onwards, he added.
ASTRI will further incorporate Bluetooth functions for the smart pet dog to enhance its functionality. The caregiver will only need to enter the medication time for the elderly through a mobile app, then the smart pet dog will remind the elderly to take the medication on time and will also ask if they have taken them, and finally report back to the caregiver through the app, he said.
He also said that other organisations can develop more applications in the future based on ASTRI’s application programming interface. And through Artificial Intelligence of Things (AIoT), one can further enhance the functions of the smart pet dog, such as continuously monitoring and analysing the responses and the speed of speech of the elderly while chatting, thus enabling social workers and family members to better understand the elderly’s health status.
Recent research shows that the global robotic pet dogs market 2019-2023 is expected to post a CAGR of close to 21% during the forecast period.
Robotic pet dogs have recently emerged as an effective way to alleviate depression, anxiety, distress, and loneliness, especially among the geriatric population. It has been observed that the regular interaction with robotic pet dogs at least thrice a week can decrease stress and anxiety. These robotic dogs are designed in such a way that they mimic most of the activities that live dogs do, such as they can wink their eyes, wag their tail, bark and many more. Thus, the adoption of robotic pet dogs is expected to increase significantly, which will drive the growth of the market during the forecast period.
Singapore has facilitated crew change for more than 60,000 crew of different nationalities from more than 3,500 ships. This was announced by Senior Minister of State for Foreign Affairs and Transport, Mr Chee Hong Tat when he opened the Maritime and Port Authority of Singapore’s (MPA) International Safety@Sea Webinar Series yesterday.
The International Safety@Sea event is organised annually by MPA for members of the international maritime community and practitioners to provide updates on issues pertaining to safety at sea, actively share best practices and experiences on maritime safety, as well as discuss issues of concern and offer problem-solving ideas.
One of the main points Mr Chee made was on the important role technology plays as Singapore moves to Phase 2 of its Crew Facilitation Centre (CFC).
The Crew Facilitation Centre in Singapore will be a Centre of Excellence for Crew Change Protocols to test-bed emerging technologies that support safer crew change procedures. These improved procedures will be published so as to share Singapore’s best practices with other ports.
Digital Solutions to Assist Crew Changes
A task force led by the Singapore Shipping Association (SSA), comprising members from MPA, Singapore Maritime Officer’s Union and the Singapore Organisation of Seamen, has also been formed to work with stakeholders in the maritime industry on solutions for safe crew change under the SG-STAR Fund.
The taskforce has shortlisted two digital solutions companies – KaHa and Viatick – under a trial programme to provide wearables digital solutions that support overseas crew change processes such as quarantine and health monitoring. Both solutions are tamper-proof, smart wearable technologies, where companies can have better assurance in ensuring that seafarers had adhered to their quarantine requirements in their home country before leaving for Singapore for a crew change.
Launch of Phase 1 of Singapore’s national marine spatial data infrastructure
At the event, Mr Chee also announced the launch of Phase 1 of GeoSpace-Sea, Singapore’s national marine spatial data infrastructure, that integrates and shares authoritative marine and coastal spatial data and information from various sources and disciplines, creating the first-ever comprehensive picture of Singapore’s sea space.
The GeoSpace-Sea web portal will be accessible by participating government agencies in Singapore to begin with.
Subsequently, GeoSpace-Sea will be made available to more users from the public including academia, research institutions and industry so that end-user applications can be built using its data.
GeoSpace-Sea will support and enable solutions to tackle complex problems and future challenges in areas such as maritime safety, marine coastal spatial planning, climate change and environmental sustainability.
The second day of the event, taking place today- 1 December will feature three plenaries on the topics of “Mental Health & Wellness: Helping Seafarers Cope Better During a Pandemic”, “Ship Safety: Reflecting on Incidents, Causality and the Way Forward”, and “Ship Management: Lessons Learnt for Safety & Standards in the New Normal”.
The Australian Border Force (ABF) begins a blockchain trial for cross border trade with Singapore’s Infocomm Media Development Authority (IMDA). This partnership is in line with the bilateral Australia-Singapore Digital Economy Agreement. The trial supports the government’s recently announced Simplified Trade Agenda, which will reform and digitise trade compliance processes.
A trial was launched on 23 November with IMDA to test digital verification systems, the first to be developed using blockchain technology by experts from Australia and Singapore at the United Nations Centre for Trade Facilitation and Electronic Business for inter-government document exchange.
ABF Commissioner Michael Outram said the ABF looks forward to close collaboration with international partner agencies on mutual border modernisation programmes.
“The ABF welcomes the opportunity to collaborate further with Singapore to improve cross-border trade between our countries. In addition to our efforts internationally, this initiative will incorporate paperless trading and secure, the digital exchange of trade information as part of the future architecture and design of an Australian Trade Single Window”.
The trial will test digital verification platforms across both the ABF-developed Intergovernmental Ledger (IGL) and IMDA’s TradeTrust for electronic trade documents. Businesses and regulators will give feedback on their experience verifying certificates of origin with the two systems with the aim of reducing administration costs and increasing trade efficiency.
The Australian Chamber of Commerce and Industry, Australian Industry Group, as well as financial institutions in Singapore, including ANZ, will take part in the trial. The Department of Agriculture, Water and the Environment is also collaborating on complementary digital initiatives with Singapore regulators to progress paperless trading for phytosanitary and sanitary certificates for food and agricultural trade.
The ABF will feed lessons learned from the trial into the Supply Chain Working Group’s Discovery Report under the National Blockchain Roadmap led by Department of Industry, Science, Energy and Resources.
Cloud has emerged as the biggest enabler in assisting businesses to operate and thrive in these unstable times. Most organisations have transitioned to a full cloud or hybrid data storage model to ensure their employees can work seamlessly from remote locations.
As the shift to the cloud was done, in many cases, hurriedly as a reactive measure due to the severity of the pandemic, it may not have been the best in terms of security. Organisations are now feeling vulnerable and exposed because they do not know how best to make their cloud platforms more secure and reliable.
OpenGov Asia hit the nail on the head with the OpenGovLive! Virtual Breakfast Insight it organised for delegates from various agencies and organisations in Singapore to discuss the reliability and efficiency of their cloud strategies to deliver mission-critical services.
The Virtual Breakfast Insight on 26 November 2020 witnessed an overwhelming response from the delegates both in terms of their attendance and engagement.
The pace of transformation has picked up significantly but security is still a concern
Mohit Sagar, Group Managing Director and Editor-in-Chief at OpenGov Asia opened the session with a quick round of introductions in the virtual room and set the tone for the discussions to follow.
He acknowledged that cloud technology is not new, but its acceptance and adoption have risen significantly in the COVID-19 era.
Drawn into the digital transformation wave, citizens are becoming increasingly reliant on digital solutions, pushing governments and private service providers to be more adaptive and accessible in service delivery.
Mohit also pointed out that though the pace of transformation has picked up significantly, security still remains a big concern. Most certainly, the public sector that harbours much sensitive information on its citizens and residents, needs to be extra cautious in this regard.
Digital solutions in the new normal demand rapid digital transformation strategies that are well thought out and planned, keeping accessibility, agility and security as the pillars on which everything else develops.
In conclusion, Mohit urged delegates to not waste any time trying to do all this in-house. He stressed the power of a well-coordinated partnership with experts to attain stability and security in their cloud operations.
Organisations must Innovate their digital infrastructure
After Mohit’s opening, Yee May Leong, Managing Director, Equinix South Asia took to the virtual podium to share her insights with the delegates.
Yee May emphasised the need to fast track digital strategies and the pivotal role leaders play in driving them. She shared that the most optimal way of doing it is minimising the distance and cost between employees, customers and other stakeholders.
She went on to explain the role that digital infrastructure plays in driving this advantage and how Singapore’s Smart Nation Program has made this digital infrastructure is easy to access
Yee May encouraged delegates to focus on three major goals as they progress on their cloud journey:
- Solve performance, scale, and flexibility challenges
- Accelerate growth and gain agility
- Sharpen competitive edge
She underscored how Equinix is leading the way for digital transformation by sharing a few customer testimonials.
In conclusion, Yee May opined that focus must on consolidating the right resources, people and possibilities to ensure success as digital leaders. She signed off by encouraging the delegates to reach out to them to know more.
An Overview of Victoria Government’s digital strategy to deal with the COVID-19 pandemic
After Yee May’s presentation, Jithma Beneragama, Director, Digital, Design and Innovation of the Department of Premier and Cabinet (Victoria), shared some interesting insights on digital initiatives being run by the Victorian government and how they harnessed Cloud Technology to manage the COVID-19 pandemic.
Jithma began by agreeing that governments are incredibly complicated organisations in terms of structure and that there is an urgent need to transform the way they use digital tools and technology. He explained that his team’s focus has been to make technology and the process of digital transformation faster, simpler, scalable and repeatable.
Jithma went on to share some of the initiatives they worked on as the challenges of the pandemic became increasingly complex.
The first course of action was to create a consolidated platform, a dedicated hub for all information related to the COVID-19 pandemic. He confirmed that their goal was not only to simplify the frontend of technology tools for the citizens but also to create a decentralised backend for easy navigation and use of employees.
The next step for them was to ensure that this information is stored and hosted in a scalable environment that can cope with the dramatic and almost instantaneous changes in traffic. Their major priority was to make sure that the cloud platform storing all this information is highly secure with proper access and response across all Victorian Government departments.
In summary, Jithma emphasised the importance of having fast, scalable, repeatable and secure digital applications, especially for the public sector.
Defining a multi-cloud strategy in the current environment
After Jithma’s sharing of best practices, Zheng Guanglei, Chief Cloud Solution Architect, WhaleCloud, shared his organisation’s perspective with the audience.
After briefly introducing the company to the audience, Zheng clearly defined multi-cloud strategy and the 3 main multi-cloud scenarios that are being adopted by organisations worldwide. They are private + public cloud, multiple public clouds, and private cloud + multiple public clouds.
After shedding some light on these three scenarios, he shared a fact that as much as 81% of all organisations are working with two or more cloud providers. This trend is mainly because organisations are recognising the benefits of using multiple clouds like greater flexibility, data sovereignty, disaster recovery etc.
But like everything else, multi-cloud options also bring in challenges like management difficulties, lack of IT skills, large CapEx in the private cloud etc. In the same vein, he also shared that the best way to overcome these challenges is to deploy a multi-cloud management platform that is flexible, fully managed and highly secure.
Zheng outlined the different kinds of services and support his organisation can provide to the customers like migration services (defining, planning, and executing the migration of data), cloud-enabling services (architecture design, security, training etc.) and cloud management services (interfacing with cloud vendors, SLA’s etc).
He concluded his presentation by sharing specific pointers that are essential to make a multi-cloud strategy a success. These include a secure and controllable environment, flexible and scalable technologies and change-driven leadership.
After the informative presentations by the speakers, it was time for the interactive polling session and discussion with the delegates.
On the first question about their organisation’s long term cloud strategy, a majority of the delegates voted that they plan on having a hybrid cloud strategy with some data sitting on-premise, some in the private cloud, and some in public/shared cloud (80%).
A senior delegate from the banking industry reflected that he believes that multi-cloud strategy is the future but due to so many compliance and regulations in Singapore, they are currently leveraging a hybrid cloud.
The next question polled the delegates on their respective organisation’s current percentage of mission-critical services put onto the public cloud this year almost two-thirds went with greater than or equal to 40% but less than 80%.
A digital executive from the financial services industry shared that because of the very sensitive nature of their data, it is very difficult for them to move all their data on the cloud and hence his vote for this option.
On the final question about the external help needed most by the organisation on cloud migration, close to half of the delegates voted for changing mindsets from traditional DC Ops to DevOps in the cloud (43%).
Another participant from banking shared that the biggest challenge for them to create a collaborative environment through the cloud, in particular convincing the staff to make that move.
After the polling session, Yee May addressed the audience with closing remarks. She thanked all the delegates for participating and sharing their challenges with them. She also opined that the journey of migration to the cloud starts with taking small steps and gradually scaling them.
Yee May urged the delegates to feel free to reach out to their team in case they have any questions or queries about the cloud scenarios and solutions discussed during the session. She also encouraged them to explore partner with them to facilitate their cloud journey.
In collaboration with
In Singapore, some heroes are comparatively small, silent creatures that operate behind the scenes to keep Singapore running.
We’re talking of course, about drones. Since their inception, various agencies in Singapore have been trying to use them to make tasks easier, safer and more efficient.
Let’s take a look at some of these ‘silent’ heroes and the jobs that they do – some of them are on trial, yes, but hey, it’s always fun to take a glimpse into the future.
Supporting anti-dengue operations!
With Singapore facing a record number of dengue cases this year, it is a priority to eliminate dengue hotspots this year. Some of these hotspots though are located in areas that might be challenging to carry out anti-dengue operations.
One example? Private residential estates.
To solve this, NEA has been using drones to check for mosquito breeding. The drones can fly over houses, and look out for potential breeding sites, such as the roof gutters in private estates.
Making building inspections SUAVE
Building inspections can be dangerous and time-consuming affairs, where there is a risk of accidents and falls. Not to mention, a lot of equipment and manpower is needed to ensure this happens safely.
SLA’s way of overcoming this? Flying drones equipped with an algorithm called SUAVE (Smart Unmanned Aerial Vehicle Enhanced) which analyses buildings for defects and potential maintenance issues. Small cracks, debris, water ponding, you name it!
The results are pretty impressive – the use of drones saves up to 80% for time and only uses 60% of the cost required for a conventional inspection.
Island hopping, drone style
Most drones rely on 4G and WiFi for operation and navigation. However, when out at sea, both of these signals are affected by sea waves, weather conditions and passing ships.
That said, SLA and GovTech is running trials with a way to get past this, by deploying a large drone that uses TVWS (TV White Space), which, at the risk of sounding very nerdy – is the inactive space found between channels actively used in UHF and VHF spectrum with frequency spans from 470 MHz – 790 MHz.
In real-world terms, this means that the drone can theoretically be piloted for a range of 10 km, and can stream live images of the remote Southern Islands using TVWS. This is something that many commercial drones can’t do.
Currently, SLA officers have to travel by boat and on foot to carry out manual inspections on the general upkeep of the islands i.e. grass cutting, housekeeping, pest control, arboriculture and horticulture works.
If it all works out, this drone can help inspections on the island to be done remotely and also more efficiently.
Keeping us safe, from the skies
We might not have those police helicopters as they do in the United States, but the police here are developing drones that give operators a clear picture of the ground situation instead.
These drones have a range of a few hundred metres, and are equipped with cameras with high powered zoom lenses – they are kinda like a hawk patrolling its grounds. In addition, they are also capable of missions up to 30 minutes, reducing the need for manpower.
Singapore deployed them this year in a trial, monitoring industrial areas on the western part of the island, as well as areas that are susceptible to crimes such as housebreaking and theft.
Keeping calm and swimming on
Unlike all the other drones we’ve mentioned earlier, the NUSwan is a swimmer, not a flyer.
Beneath their elegant exteriors, they have propellers instead of legs and can operate for hours without the need for sustenance. They’re also built to survive close encounters with boats – talk about durability!
These robot swans patrol Singapore’s reservoirs and keep us safe by assessing pollution and the drinkability of water. Sensors located in the NUSwan measure oxygen levels or chlorophyll, and stream these in real-time back to a central command centre – which can also control them remotely.
Yes, that’s right – an army of Robot Swans – it’s no wonder they decided to film Westworld in Singapore.
It’s amazing how fast technology develops! Just a decade ago, few of us would have imagined the uses that drones have today. With that in mind, what the future for us will be equally mind-boggling.
What we do know though, is that they’re here to stay. The next time to see a drone out in public, don’t be alarmed!
Chances are, like us, they’re just doing their job.
Photo Credit: GOVTECH
The Monetary Authority of Singapore (MAS) announced today the 20 finalists for the 2020 Global FinTech Hackcelerator. The finalists this year comprise several unique solutions that seek to drive positive social and environmental impact within the financial sector, in response to the challenges posed by COVID-19 and climate change.
The Global FinTech Hackcelerator identifies innovative market-ready solutions to address real industry needs. The finalists will pitch their solutions at the Global FinTech Hackcelerator Demo Day at the 2020 Singapore FinTech Festival x Singapore Week of Innovation and TeCHnology (SFF x SWITCH).
Mr Sopnendu Mohanty, Chief FinTech Officer, MAS said, “Over the past four years, the Global FinTech Hackcelerator has provided FinTechs from Singapore and around the world with an excellent platform to showcase innovative solutions that can solve key problems within the financial industry. This year, there is added urgency to address pressing challenges brought about by COVID-19 and climate change. This is evident from the record number of problem statements submitted by the industry. We look forward to seeing our finalists use the Global FinTech Hackcelerator as a launchpad towards greater success while helping the financial industry tackle the health, economic, and climate crises facing our generation.”
The finalists were selected through two parallel segments – the Local Programme, which addressed high-priority problem statements collated from the finance industry in Singapore and globally; and the International Programme, which comprised solutions from winners of FinTech competitions organised by international partners.
• In the Local Programme, supported by KPMG Digital Village, 10 finalists were shortlisted from over 270 submissions from across more than 40 countries. These submissions addressed a record 107 problem statements across four categories: Responding to a Global Pandemic; Green Finance Solutions; Green Finance Enablers; and Sustainability. More than 150 of the submissions came from Asia and about a third were from Singapore.
• The International Programme participants comprised 10 winners from six independent FinTech competitions organised by our international partners. This year, the Global FinTech Hackcelerator’s international partners are Abu Dhabi Global Market, Accelpoint, the Saudi G20 Presidency and the Bank for International Settlements Innovation Hub, the Central Bank of Kenya, the United Nations Capital Development Fund (UNCDF) and Women’s World Banking.In total, more than 700 FinTechs spanning across the globe participated in the International Programme.
During Demo Day on 10 December, finalists will present their innovations and the top three winners will win S$50,000 in prize money each. All 20 finalists will also receive a S$20,000 cash stipend and be fast-tracked in their applications to receive grant funding under the MAS Financial Sector Technology and Innovation (FSTI) Proof of-Concept Scheme.
In addition, the finalists will exhibit their solutions as part of the Digital Showcase at SFF x SWITCH. The finalists will also be invited to a dedicated Deal Friday networking session in November to meet potential investors.