SINGAPORE - The Monetary Authority of Singapore (MAS) is working with the venture capital industry to grow funding landscape for start-ups in Singapore and the region, Deputy Prime Minister Tharman Shanmugaratnam said.

"Specifically, MAS is looking to significantly simplify and shorten the authorisation process for new VC managers," Mr Tharman said at the opening of a new fintech hub on Thursday (Nov 10).

It will also looking whether existing incentives for funds and fund managers are suitable for VC funds and managers.

MAS will be doing a public consultation on its proposals in January next year, and targets to introduce changes by July 2017.