Moves afoot to give Singapore-based fintechs a safe landing in Australia
The Big Story
With the Singapore Fintech Festival swinging into town again, we thought we’d look at the collaboration
between Australia and Singapore in the fintech space. Turns out there’s quite a lot going on.
Singapore fintechs are beginning to call Australia home
Under the colourful banner of Project Lorikeet, an initiative driven by Austrade and the Singapore fintech association, several Singaporean fintechs now call Australia home. According to the SFA, the companies are expected to invest A$26m or approximately $22.7m in the next three years in Australia.
The selected fintech startups have received a range of support including:
- Insights into market dynamics, regulations, and talent acquisition.
- Introductions to fintech ecosystem players and state bodies such as Investment NSW and Global Victoria
- On-the-ground assistance during immersion programs in Melbourne and Sydney
- Targeted market connections, and high-profile exposure at major events like the Singapore Fintech Festival.
Australian fintechs heading to Singapore too
On the flip side, Investment NSW is actively running the ‘Going Global Export Program,’ which includes various activities and programs to support New South Wales businesses in international markets, including Southeast Asia. Their initiatives often feature in-market programs, trade missions, and networking opportunities for Singaporean SMEs to take advantage of.
What SMEs can do
- Investigate Austrade and Singapore government initiatives to seek out any grants, collaborations or funding available for fintech expansion.
- Monitor the progress of startups already involved in SFA’s Project Lorikeet as a playbook
- Get involved in the Singapore Fintech Festival, where Austrade and Australian state bodies initiatives are showcased. Elevate your brand presence and take any opportunities to network.
This is a five-part series looking at the opportunities for businesses across the Australia – Southeast Asia corridor. The insights are powered by Via Group: a communications agency focused on supporting international businesses with their cross-border communications needs across Asia. You can check them out at wearevia.com
See other stories in this series
• How Singapore based SMEs can future proof against supply chain shakeups
• Australia and Singapore to help bolster SMEs ESG credentials
• Unlocking talent amongst Singapore start-ups
• Renewing strategic vows: Australia and Singapore eye AI and digital transformation in 2025