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MAS FSTI INNOVATION ACCELERATION – EARLY INNOVATION

MAS FSTI INNOVATION ACCELERATION – EARLY INNOVATION
Programme:MAS FSTI Innovation Acceleration – Early Innovation
Awards:Up to S$400,000 or 50% support for qualifying costs
Beneficiaries:public
Key Features:Funding for experimentation, development and dissemination of nascent innovative technologies to improve efficiency and productivity in Singapore’s financial sector

KEY INFORMATION

Grant Provider

Monetary Authority of Singapore (MAS)

Max Amount / Support Rate

S$400,000 cap and 50% of qualifying costs

Project Duration

Up to 18 months

REQUIREMENTS

  • Applicant must be an MAS regulated financial institution, a technology or solution provider working with such institutions, or a provider developing novel solutions for the sector in Singapore.
  • Projects must not exceed 18 months.
  • Apply during quarterly windows aligned to Q1–Q4 evaluation cycles.

EXPECTED OUTCOME

  • Improve efficiency or productivity of Singapore’s financial services sector.
  • Development and dissemination of nascent innovative technologies.
  • Projects with clear novelty, potential utility and likelihood of success.

SUPPORT RATE

Support Rate → 50%

Qualifying Expenditure Details

Basic manpower salaries plus employee CPF; locally based professional services including consultancy, subcontracting and prototyping; equipment, hardware, data or project related technical software including commissioning and operational costs.

SUPPORTED PROJECTS

  • Experimentation of early stage financial sector technologies.
  • Development of innovative financial technology solutions.
  • Dissemination or pilot deployment activities for novel solutions.

OTHER IMPORTANT INFORMATION

Scheme valid until March 2026.

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