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Inaugural SFF x SWITCH to Kick Off Tomorrow with a Focus on Sustainability

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The Singapore FinTech Festival (SFF) and the Singapore Week of Innovation and TeCHnology (SWITCH) will come together for the first time as SFF x SWITCH. Running from 11 to 15 November, this event will gather the global innovation and business community in Singapore. There will be over 400 speakers, more than 900 exhibitors, 41 international pavilions, and about 60,000[1] participants from 130 countries.

2.  Sustainability and Climate Change is the overarching theme of the combined conference this year, given the growing calls for the technology and financial sectors to be enablers and change agents for sustainability. This theme is reflected in the content of the conference, the design of the event space at the Singapore Expo and through the provision of food from sustainable sources. Please refer to Annex A for more details.

3.  The inaugural SFF x SWITCH will feature innovative technologies across five key sectors  FinTech, Urban Solutions and Sustainability, Health and Biomedical Sciences, Advanced Manufacturing and Engineering, and Services and Digital Services  to catalyse cross-industry exchange and learning in technology adoption, application of R&D, and commercialisation of new solutions.

Event Highlights

4.  The event will kick off with the three-day SFF x SWITCH Conference (11-13 November) at the Singapore Expo. The Conference comprises nine stages, where prominent speakers will discuss topics on Sustainability, Finance and Tech; Future of Finance; Investment and Global Markets Opportunities; Exponential Technologies; Global Access to Innovation; Future Directions with Institute of Electrical and Electronics Engineers, Healthcare Innovation; Powering Cities of the Future; and Sustaining the Future of Humanity.

5.  Among the speakers at the Conference are Her Majesty Queen Maxima of the Netherlands; Mr Heng Swee Keat, Deputy Prime Minister and Minister for Finance, Singapore; Mr Ong Ye Kung, Minister for Education, Singapore, and Board Member, MAS; Agustin Carstens, General Manager of the Bank for International Settlements; Pavan Sukhdev, President, World Wildlife Fund International; Kees Immink, President, Turing Machines Inc; Pat Bajari, Vice President for Core AI, Chief Economist, Amazon; and Sergey Ryazanskiy, Pilot-Astronaut and Hero of the Russian Federation.

[1] As at 10 November 2019

a.  Debuting this year is the Sustainability, Finance and Tech Summit (11-13 November), featuring over 50 speakers who will take the stage to discuss how they are paving the way for a more sustainable future in the world of finance and beyond.

b.  The annual Global Investor Summit (11 November) will bring together 17 venture capital, corporate venture capital and family office investors from San Francisco to Tokyo, to share their strategies for unlocking growth, impacting inclusion, and delivering long-term value creation in the FinTech and Deep Tech ecosystems.

c.  Leading the Deep Tech conference, the Global Access to Innovation track (11 November) will feature perspectives from a myriad of movers and shakers in Asia’s innovation ecosystem. From founders of tech unicorns to senior leaders from both the private and public sectors, conference participants can look forward to finding out more about the opportunities in market access, innovation and investment, in Asia and beyond.

d.  A new summit created this year to spotlight key issues faced by small and medium enterprises (SMEs) is SME Digitalisation and Platforms  Business sans Borders (BSB) (13 November). The sessions in this track will cover pertinent issues such as ‘SME Financing Reimagined’, the ‘Impact of Trade Wars on SMEs and Platforms’ as well as the ‘Roadmap for BSB Beyond 2020’. The discussions will take place at a new Coral Triangle stage, which is designed for more intimate and interactive conversations.

6.  Alongside the Conference is the combined SFF x SWITCH Exhibition curated by SingEx, which showcases innovative solutions in FinTech and Deep Tech from around the world. The 41 international pavilions[2] will display solutions from their respective countries or regions. Visitors can also interact with 20 international financial regulators[3] at the Regulators Zone to learn more about business opportunities and regulations in those countries.

7.  The Innovation SG booth, featuring an interactive TechXperience Zone, will present technology, innovation and enterprise initiatives led by local and international players. From deal-making sessions and workshops, to industry launches and networking events, the showcase presents Singapore’s role as a vibrant Global-Asia node of innovation.

8.  Three exciting Competitions for the global innovation community will reach its conclusion at SFF x SWITCH:

a.  The Global FinTech Hackcelerator Demo Day, taking place on 11 November, will present 20 market-ready FinTech solutions intended to solve real-life industry problems in financial inclusion, insurtech, RegTech and SupTech, and a general category. Winners will be revealed later on the same day.

b.  Winners of the FinTech Awards will be announced on 11 November, recognising innovative FinTech solutions that have been implemented by FinTech companies, financial institutions and technology companies. Attendees can also catch the finalists presenting their 5-minute company pitches on 12 November at the Open Stages[4].

c.  SLINGSHOT 2019 (11  13 November), Startup SG’s marquee startup pitching competition that highlights the best global startups, has a focus on increasing deal-making this year. Semi-finals will take place over the first two days where the SLINGSHOT Top Global 100 Startups across six key tracks[5] will pitch their solutions to over 200 judges comprising industry veterans, corporates, tech giants and investors. More than S$2 million worth of prizes will be awarded. The top 12 startups will vie to be the Grand Winner at the Grand Finals happening on 13 November.

[2]  International Pavilions representing Armenia, Bahrain, Canada, Catalonia, Central and Eastern Europe, Chongqing, Commonwealth, Denmark, Dubai, Germany, Holland, Hong Kong, India, Ireland, Israel, Japan, Kenya, Korea, Latin America, Lithuania, Luxembourg, Nigeria, New Zealand, Nordics, Pakistan, Philippines, Poland, Singapore, South Korea, Spain, Sri Lanka, Suzhou, Switzerland, Taiwan, Turkey, United Kingdom and United States of America.

[3]  The Regulators Zone will include Abu Dhabi Global Market, Autoriti Monetari Brunei Darussalam, National Bank of Cambodia, Danish Financial Supervisory Authority, Dubai Financial Services Authority, Autorite de controle prudential et de resolution, Autorite des marches financiers, Bundesbank, Astana International Financial Centre, Central Bank of Kenya, Korea Financial Services Commission, Bank of Lithuania, Securities Commission Malaysia, Central Bank of Nigeria, Bangko Sentral ng Pilipinas, Polish Financial Supervision Authority, Monetary Authority of Singapore, Bank of Thailand and UK Financial Conduct Authority.

9.  Investors and companies can look forward to the following Deal-Making Opportunities at SFF x SWITCH:

a.  Daily Mixers (11 and 12 November), taking place at the Innovation SG booth, will host some of the best-in-class global companies and investors and feature intimate Q&A sessions with top investors.

a.  TechInnovation (11  13 November), the premier technology-industry matching event, will showcase over 150 enabling technologies available for technology commercialisation or licensing. A special UK-Singapore innovation seminar and a thematic track on design-led innovation will also debut at TechInnovation this year.

10.  The Innovation Lab Crawl (14-15 November) will feature research facilities and in-house laboratories from 53 partners in the areas of FinTech, Advanced Manufacturing and Engineering, Urban Solutions and Sustainability, Health and Biomedical Sciences and Services and Digital Economy. Interested parties can sign up at http://fintechfestival.sg/innovation-lab-crawl to see where new product and solutions are tested, learn about how these labs leverage the latest technologies and network with start-ups and key innovation executives.

11.  Mr Sopnendu Mohanty, Chief FinTech Officer, MAS, said, “Each year, in running the Singapore FinTech Festival, we strive towards achieving our vision of making it a global platform for knowledge sharing. This year, our partnership with SWITCH has given us that opportunity to draw a larger technology-focused audience beyond the financial services sector. It has helped propel SFF x SWITCH into a platform for the world to share thought leadership, make meaningful connections and to build better ideas that will benefit our community.”

12.  Mr Edwin Chow, Assistant Chief Executive Officer (Innovation & Enterprise), Enterprise Singapore, said, “With SFF x SWITCH as one event, we will bring together international tech communities, startups, investors, corporates and other enablers to network, share ideas and discuss collaborations. More than 40 international pavilions will present the latest innovative solutions and technology spanning across diverse sectors and disciplines. SFF x SWITCH presents opportunities for participants to start solving economic and industry challenges through innovation and entrepreneurship.”

[4] These stages are located at the Exhibition and open to trade visitors.

[5]  The six tracks are i) Consumer Products & Services, Media & Advertising, Retail & Food Services, ii) FinTech and InsurTech, iii) FoodTech and AgriTech, iv) HealthTech, BioTech and MedTech, v) Manufacturing, Logistics & Transportation and vi) Urban Solutions, Sustainability & Energy.

13.  Dr Cheong Wei Yang, Deputy Chief Executive Officer, NRF, said, “SFF x SWITCH brings out the best of both the Singapore FinTech Festival and the Singapore Week of Innovation and TeCHnology. It is symbolic of Singapore’s national effort to integrate research, innovation and enterprise as an iterative, interactive ecosystem – so that each one will spur the others to greater heights, with the aim of improving lives in Singapore and globally. It will ensure that deep technologies born out of basic science research in Singapore will see impact via the right economic structures and business models, enabled by innovative financing modalities and payment systems. I look forward to seeing many more products and services being launched into the region and the world, from Singapore.”

14.  SFF is organised by MAS, in partnership with The Association of Banks in Singapore, and in collaboration with SingEx Holdings. SWITCH is organised by Enterprise Singapore, NRF and Intellectual Property Intermediary (IPI) in partnership with SingEx.

 

SOURCE Monetary Authority of Singapore

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Sleep interiors brand gets job offer from Peter Jones despite not securing investment in Dragons Den

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LONDON, March 29, 2024 /PRNewswire/ — Tonight on BBC1, REMY founder Abeer Iqbal, entered the Den, and despite intense grilling and no investment, left with a six-figure job offer from Peter Jones

Abeer’s pitch began with the Dragon’s keen to experience his sleep-enhancing furniture. When Steven and Peter laid on his hero  ‘The Pod’, a reinvention of the beanbag, and under REMY’s best-selling ‘The Lounger’ weighted blankets, the dragons closed their eyes and pretended to snore. Which was ironic, as despite being told he’d enter the Den around 5pm, Abeer actually went in at 9.30pm, after the dragons had been receiving pitches since early that day, which to Abeer’s own admission “wasn’t easy”. Deborah Meaden said, “This might have been a fatal mistake to put your dragons to sleep before we start the pitch” – recognising that it had been a long day.

After 10+ years working in tech, helping multi-million pound businesses grow their empire at software giants like Shopify, Abeer experienced burn-out, which led him to develop REMY. Despite Abeer telling the dragons that he left the high-pressure industry due to stress and anxiety Peter Jones still offered him a job back in the rat race with a six-figure sum (which he still hasn’t taken). 

After leaving the Den, Abeer admitted feeling the “most anxious ever” and that he “just wanted to get back to his wife for a hug”.  Abeer shared, “I didn’t sleep for days, replaying every moment in my mind. I wanted to forget it.” But it’s not all bad, as Abeer explains, “the anxiety I experienced from the Den gave me a lightbulb moment and led me to create our most popular product yet – The Hugger Pillow. I needed a hug, so I created one”. 

Abeer continues, “I returned the next day to collect my items from the studio. I bumped into a fresh-faced Peter and Toukar in the carpark, they both praised my experience, Peter once again offered me a job and Toukar asked me to call him when I start the next business.”

The global ‘sleep economy’ is booming, projected to reach a record high of $585 billion this year. But Abeer felt he was unable to communicate this, “If I could have my time again, I would focus on the industry of Rest and Sleep rather than the specific products we were trying to innovate. I don’t think I articulated to the Dragon’s the size of the business opportunity that there is with REMY. In terms of what’s next, we are moving towards becoming a household name in rest and sleep but offering products in multiple categories.”

The Dragon that seemed to understand Abeer’s passion for this industry was Sara Davies, saying “I actually fundamentally don’t agree with what I’ve heard here. What I see in front of me, yes he is great at the e-commerce side of things but he gave up a career in corporate because he was passionate about this area. And if there’s one thing I know about business it’s that you will succeed when you pursue the thing you are passionate about. I wouldn’t discourage you to give up. Keep doing it and good luck. I think you could sell anything”.

You can watch Abeer Iqbal on Dragons’ Den on BBC iPlayer.

remysleep.com / @WEAREREMY

Photo – https://mma.prnewswire.com/media/2374872/REMY_Sleep_1.jpg

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Bitrue Coin (BTR) Analyzes User Behavior and Announces Upcoming Developments to Enhance Utility

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SINGAPORE, March 29, 2024 /PRNewswire/ — Bitrue, a leading cryptocurrency exchange serving over 10 million users globally, announces a focus on user behavior analysis to further develop the utility of its native token, Bitrue Coin (BTR).

“Understanding how our users interact with BTR is crucial for its continued growth,” states Robert Quartly-Janeiro, Chief Strategy Officer of Bitrue. “This analysis will guide upcoming developments that enhance the value proposition of BTR within the Bitrue ecosystem.”

The announcement follows a recent surge in interest surrounding exchange tokens, and digital assets used to pay for services to unlock benefits within specific cryptocurrency exchanges. Currently, BTR offers a compelling range of benefits to Bitrue users, including:

  • Reduced Trading Fees: BTR holders enjoy lower trading fees on the Bitrue exchange, incentivizing active participation in the platform’s marketplace.
  • Governance Voting Rights: BTR grants voting rights on select new listings, allowing users to influence the direction of the Bitrue platform.
  • Staking Opportunities: BTR holders can stake their tokens to earn passive rewards, providing an additional avenue for generating income within the Bitrue ecosystem.
  • Exclusive Airdrop Potential: BTR holders may be eligible for airdrops of new tokens listed on the Bitrue exchange, offering the chance to discover promising crypto projects early.
  • VIP Investment Caps: BTR unlocks higher investment caps for certain cryptocurrencies on the Bitrue platform, catering to high-volume investors.

“BTR already plays a multifaceted role in the Bitrue experience,” Quarterly-Janeiro continues. “By strategically expanding its utility based on user behavior analysis, we aim to solidify BTR’s position within the exchange token market and elevate its value proposition for our user base.”

The specific developments based on user behavior analysis are not disclosed at this time. However, Bitrue assures its users of continued transparency and will share details in due course.

Media Contact: Lily Ho, [email protected]

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Affordability, customisation and convenience: Term plans from India become more attractive and accessible for NRIs

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Term insurance from India emerges as preferred choice for NRIs seeking affordability and convenience

DUBAI, UAE, March 29, 2024 /PRNewswire/ — Policybazaar, India’s leading online insurance marketplace, is witnessing a significant increase in non-resident Indians (NRIs) choosing term insurance from India via its platform. This surge is driven by the unparalleled ease, affordability and accessibility offered by the Indian insurance market. While several factors contribute to the growing interest in term insurance in India, affordability and convenience stand out as primary reasons. The demand among the 18-60 age group has seen an impressive 130% year-on-year growth, with India emerging as the preferred choice for NRIs.

The surge in demand from NRIs can be credited to several standout features and benefits. Term policies from India cost up to 30-50% less for NRIs residing in the UAE and Singapore. Additionally, policies with coverage of up to INR 5 crores can be easily obtained with tele-medical check-ups from India, eliminating the need for physical visits. Unlike some countries with restricted policy terms and coverage, Indian term plans offer coverage for longer duration, extending up to 99 years.

Sarbvir Singh, Joint Group CEO, Policybazaar, states, “We are witnessing exponential growth in term insurance purchases from NRIs, particularly from the Gulf nations and Singapore. Policybazaar has focused its efforts on expanding term insurance protection in both Indian and overseas markets. The unmatched benefits offered by India, including competitive pricing, larger covers, and streamlined processing through video/tele medicals, are significant contributors to this demand. It is heartening to see NRIs realizing the importance of securing their dependents’ future and choosing Indian term insurance policies.”

Term Insurance for a 35 year old male, non-smoker
Policy term – 30 years

Country

India

UAE

Cover Amount

INR 2 Cr / AED 881 K

AED 900 K

Max Cover Upto

99 years

80 years

Premium in AED

AED 977.8

AED 1,539

Premium in INR

INR 22,193.00

INR 34,892.00

Free Add-ons

Early Payout on Terminal Illness + Waiver of Premium

Price Benefit

36% cheaper in India

Source: Policybazaar.com

NRIs are also eligible for 18% GST exemption* upon purchasing term insurance plans from India, when paying via their NRE accounts. This attractive pricing, along with the availability of longer-term plans, has led to a rise in demand among NRIs, especially from Gulf nations, where 65% of term insurance buyers hail from, with the UAE alone contributing 35%.

Rhishabh Garg, Head of Term Insurance at Policybazaar, adds, “The evolution in the Indian term insurance industry is marked by innovative offerings designed to meet the distinct needs of consumers overseas. The consumer-centric features in term plans from India are increasingly appealing to NRIs, which include return of premium at no extra cost, early pay-outs for terminal illness, premium waivers for permanent disability, and immediate pay-out of up to INR 2 lakhs on claim intimation for immediate obituary expenses.”

The accessibility of these plans is further enhanced through seamless processing for NRIs, whose average annual income exceeds INR 35 lakhs. Insurers now also offer a sum assured of up to 5 crores, ensuring adequate coverage based on Human Life Value (HLV) calculations. NRIs can also leverage Policybazaar’s search and comparison engine to browse the best suitable plans as per their needs and preferences.

With a commitment to providing comprehensive coverage and protection, Policybazaar continues to redefine the landscape of term insurance for NRIs, empowering them to secure their loved one’s future with peace of mind. As NRIs continue to seek comprehensive coverage and value-driven solutions, Policybazaar remains dedicated to delivering innovative term insurance products and services tailored to their evolving needs.

*Tax benefits are subject to change in tax laws

About Policybazaar.com

Policybazaar.com is one of India’s largest insurance marketplace. It is the flagship platform of PB Fintech, which owns the fintech brand, Paisabazaar.com, and lending & insurance marketplace in the UAE region, Policybazaar.ae. Policybazaar.com started with the purpose to educate people on insurance products and with its offerings has addressed the large and highly underpenetrated online insurance markets.

Logo: https://mma.prnewswire.com/media/2375092/Policybazaar_Logo.jpg

 

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