A fintech incubator and accelerator has agreed to work with a Chinese venture capital firm to create more opportunities for investment and startup development between China and Switzerland.
F10 has inked a memorandum of understanding with Chinese company Zheshang Venture Capital that will spur Chinese investment into the Swiss fintech ecosystem, the Zurich and Singapore-based firm announced in a statement earlier this week.
As part of the partnership, Chinese venture capital companies will have more opportunities to cooperate with Swiss multinational companies in the canton of Zurich, the statement said.
«With this memorandum, Switzerland has an excellent chance to further promote its fintech, wealthtech and wealth management sector in China and drive innovation across industries,» F10 senior advisor and mentor Marc Lussy said at a roundtable at the signing of the MOU.
Asia Ambitions
F10 was founded in 2010 and is run by Swiss stock exchange operator SIX. It runs bootcamps for startups that focus on different stages of their journey: idea-to-prototype, prototype-to-product, and product-to-market.
On Wednesday, the startup hub announced that it is expanding to Asia and will offer its prototype-to-product program in Singapore in May 2020 with the help of private bank Julius Baer. Applications are currently open until Jan 12, 2020.
