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KB Financial Group and Tenity partner to launch acceleration program for Korean Fintech startups looking to expand into the Singapore market

June 30, 2023

KB Financial Group (KBFG), Korea’s leading financial services provider, and Tenity, leading global innovation ecosystem and early-stage investor, are excited to announce a 4-week acceleration program targeted toKorean fintech startups that are interested in the Singapore market for potential expansion.

KBFG and Tenity will kick-off this 4-week program in July 2023 and conduct it onsite in Singapore. This highly personalized program is structured based on the startup’s needs and requirements and highly relevant for market expansion, such as validation, building strategy and forming up hypotheses on entry barriers and market needs. It will also help the entrepreneurs broaden their network with local investors and potential customers.

Over the years, Singapore has strategically established itself as an attractive hub for international startups and companies. Its exceptional progress in the realm of innovation was exemplified in 2022, when it secured the 7th position in the esteemed GlobalInnovation Index. By that time, the city-state had already fostered an ecosystem of 4,000 tech startups and 12 unicorns.

Jonas Thuerig, Head of Tenity Asia and Managing Partner, commented, "we are very excited for this opportunity to run a program with KBFG and to provide them with a vibrantSingapore startup ecosystem and opportunities connecting with potential partners, investors and Tenity community.”
Officials from KBFG stated, “In Sep 2022, KBFG launched KB Global Fintech Lab in Singapore to support Korean startups entering the global market. This year, we are operating our first startup accelerating program specialized in the local market entry for our cohort startups, KB Starters Singapore. We selected Tenity as our program partner that has extensive experience in incubating startups.”  

About KB Financial Group

KB Financial Group is Korea’s leading financial services provider offering broad range of financial products and services.

KB Financial Group provides a broad range of financial services and products offered by its 12 fully owned subsidiaries including : KBKookmin Bank, KB Securities, KB Insurance, KB Kookmin Card, KB Life Insurance,KB Asset Management, KB Capital, KB Real Estate Trust, KB Savings Bank, KBInvestment, KB Data Systems and KB Credit Information.