FSTI 3.0 – Center of Excellence

Programme:Financial Sector Technology and Innovation (FSTI) 3.0 – Centre of Excellence

Awards:Up to 50% co-funding on manpower (SCs), 25% on manpower (non-SCs/PRs), and up to 50% rental support capped at S$250,000

Beneficiaries:allcompanies

Key Features:Supports financial institutions, CVCs, and global technology companies to establish Centres of Excellence in Singapore to test-bed and roll out innovative financial market solutions.

KEY INFORMATION

Grant Provider
Monetary Authority of Singapore (MAS)

Max Amount / Support Rate
Up to 50% co-funding on manpower (SCs), 25% co-funding on manpower (non-SCs/PRs), and 50% co-funding on rental capped at S$250,000

Project Duration
24 months

REQUIREMENTS

Applicant must be a financial institution, corporate venture capital entity, or global technology company.
COE must be led by a senior leader (e.g., head of technology/innovation/venture) based in Singapore.
Minimum of 2 senior professionals in the COE team (excluding admin and IT support staff).
Focus areas must align with MAS’ developmental strategy and ITM 2025 objectives.
Applications must be submitted 3 months before project commencement.

EXPECTED OUTCOME

Establish Centres of Excellence in Singapore
Roll out innovative market solutions for Singapore and beyond
Support MAS’ financial sector developmental strategy and ITM 2025 goals
Strengthen Singapore’s role as a financial innovation hub

SUPPORT RATE

Support Rate

50% (for SCs manpower)
25% (for non-SCs manpower)
50% (rental, capped at S$250,000)

Qualifying Expenditure Details

Manpower expenses for qualifying roles (team leads, technical/design/venture professionals)
Office rental (only for non-FI CVCs and COEs without existing Singapore presence)

SUPPORTED PROJECTS

Test-bedding of innovative financial solutions
Market roll-out of financial technology initiatives
Establishment of CVC-driven innovation hubs in Singapore
Development of business and technical solutions aligned with MAS priorities

OTHER IMPORTANT INFORMATION

Engagement with MAS is required before application submission

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FSTI 3.0 – Center of Excellence

KEY INFORMATION

REQUIREMENTS

EXPECTED OUTCOME

SUPPORT RATE

SUPPORTED PROJECTS

OTHER IMPORTANT INFORMATION

Our Service Offering in Grants

READ OUR HANDBOOK WITH BEST GRANTS AND TAX INCENTIVES FOR INTERNATIONAL COMPANIES

RelatedSectors

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