Marvelstone Group, the private investment firm behind London-based FinTech hub Lattice80, has announced the opening of Smart City Innovation Lab in the Central Business District (CBD) of Singapore.
The lab will facilitate the development of joint venture projects with banks, corporates, and government agencies employing FinTech solutions, blockchain technology and artificial intelligence (AI). The goal is to connect 20,000 global startups and institutions.
Marvelstone said it will actively invest in startups and venture-build businesses in collaboration with corporates and governments. The lab will also showcase designs of cities of the future and how latest innovations in technology are impacting our overall daily life.
“The Smart Nation initiative is Singapore’s vision to be an economically competitive global city and a modern, liveable home for its citizens,” said Joe Seunghyun Cho, Co-founder and Chairman of Marvelstone Group. “Under the leadership of Prime Minister Lee Hsien Loong, Singapore government is currently providing one of the best platforms globally to develop and test Smart City solutions. I, also, strongly believe Singapore is the right hub to connect emerging and developed markets.”
Last month, Lattice80 discontinued its Singapore Fintech Hub, which was launched in partnership with the IOTA Foundation in November 2017, to focus on blockchain and pivoted to become a Crypto Hub.
“What is missing, despite massive interest, is a balanced ecosystem for blockchain and crypto startups in the country,” Cho said at the time. “In my regular interactions with various founders and other important people in the industry, a demand for the expertise Lattice80 brought to FinTech is evident. The potential to collaborate, learn, and co-create needs to be addressed and it needs to addressed now. A place where startups can pitch and test their ideas daily with the community is required.”
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