Start-ups graduate from The FinLab's programme

Eight financial technology (fintech) start-ups have graduated from a 100-day accelerator programme at The FinLab, a joint venture between United Overseas Bank (UOB) and SGInnovate.

This was the second cycle of The FinLab programme, which provides practical guidance, resources and mentorship to enable the start-ups to secure investor funding, sign commercial deals and expand into new markets.

The latest graduates have developed a range of innovative solutions using technologies such as blockchain, artificial intelligence and machine learning, The FinLab said in a statement last Thursday.

These solutions will be used to drive innovation in regulatory technology, capital markets, business efficiency, financial inclusion, personal finance and mobile payments.

As part of strengthening its industry alliances, The FinLab said it recently signed a memorandum of understanding (MOU) with the Shenzhen Internet Finance Association, China and the Internet Professionals Association, Hong Kong.

The MOU aims to encourage knowledge exchange across borders and to help The FinLab's start-ups expand into China and Hong Kong.

Applications for the next 100-day accelerator programme will open in November.

EDBI invests in Taiwan AI firm Appier

Appier, a start-up specialising in artificial intelligence (AI), has secured Series C funds of US$33 million (S$44.8 million) from a group of investors, including SoftBank Group, Line, Naver and Singapore's EDBI, the corporate investment arm of the Singapore Economic Development Board.

Appier believes AI can help enterprises deal with today's rapidly changing business environment, helping them process enormous amounts of data to identify patterns and make intelligent decisions.

The firm plans to use the funds to expand its portfolio of AI solutions and hire global talent as it extends its engineering and artificial intelligence research capabilities beyond Taiwan to markets such as Singapore.

The company also plans to expand its presence in the markets in which it now operates.

A version of this article appeared in the print edition of The Straits Times on September 05, 2017, with the headline 'Start@SG'. Print Edition | Subscribe