The Monetary Authority of Singapore (MAS) unveils the Digital Acceleration Grant, fortifying Singapore’s startup ecosystem. Tailored for small to mid-sized financial entities, this grant aims to boost innovation and resilience within the sector.

Key Details

Funding Rates:

    • 80% co-funding until Dec 31, 2021.
    • 70% co-funding thereafter.

      Project Duration:

      • 1 year for individual institution projects.
      • 2 years for industry pilots.


        Eligibility:

        • Singapore-based FinTechs certified by the Singapore FinTech Association.
        • Not more than 200 employees.

Grant 1: Institution Project

Supporting individual FinTechs, this grant encourages the adoption of digital solutions with a focus on:

  • Cloud services.
  • Compliance tools.
  • Customer engagement solutions.
  • Data-related services.
  • Enterprise and office productivity tools.
  • Security solutions.

Qualifying expenses, capped at $120,000 per entity, include hardware, software, and professional services.

Grant 2: Industry Pilot

This track supports joint projects by multiple FIs, fostering collaboration to customize existing solutions. Eligible categories include:

  • Cloud services.
  • Customer engagement tools.
  • Office productivity tools.
  • Compliance tools.
  • Data-related services.
  • Enterprise services.
  • Project management tools.
  • Security solutions.

Qualifying expenses, capped at $100,000 per entity, cover hardware, software, professional services, and manpower.

Application Process

Submit the application form to fintech_office@mas.gov.sg.

If you seek guidance on leveraging these grants for your FinTech venture, contact us. Transform your financial operations with MAS Digital Acceleration Grant.