Application for FWD Startup Studio Accelerator now available for Asian startups
The FWD Startup Studio Accelerator Program is currently accepting applications. The program targets venture-backed Asian startups in the insurtech or related verticals.
In a statement released on Tuesday, FWD Startup Studio and 1337 Ventures revealed the details of the fifth cohort of the revolutionary 13-week FWD Startup Studio Accelerator program, which aims to propel insurtech or related vertical startups to unprecedented heights.
The goal of the FWD Startup Studio Accelerator, according to the statement, is to bring together the most brilliant minds in the business to promote creative collaborations that could result in proofs of concept (POC).
Thus, prospective startups are invited to apply if they want to enhance their business endeavors by forming a strategic alliance with FWD Insurance in Malaysia.
“Startups bring new ideas to traditional businesses and industries, which aligns closely with our vision of changing the way people feel about insurance,
“Through our Startup Studio Accelerator as well as TIM Ventures, our venture capital fund, we are keen to identify outstanding startups, work together with them and help them grow, leveraging on our presence in 10 markets across Asia,” said Ryan Kim, Group Chief Digital and Marketing Officer, FWD Group.
There are numerous advantages that the accelerator program provides to participating startups:
Industry knowledge: obtain unrivaled access to FWD Insurance decision-makers and renowned mentors who can offer priceless advice, open doors to partnerships, and facilitate collaborations.
Growth acceleration: Before the accelerator program ends, expedite the development of collaboration to a working proof of concept (POC), providing the startup with the impetus it needs to succeed.
Opportunities for fundraising: Grow your network among investors by getting in touch with well-known investors like TIM Ventures and 1337 Ventures. Innovative collaboration concepts might even open up the possibility of receiving venture capital funding.
Access to customers and markets: If the pilot project in Malaysia is successful, it may pique the interest of other FWD branches abroad, providing access to new markets and perhaps even opportunities for expansion.
Support for resources: Equip startups with credits worth over $20,000 on cloud services and digital infrastructure, giving them the tools they need to grow.
Networking and community: become a part of a thriving group of like-minded business owners, global insurtech leaders, and leaders of adjacent verticals. These relationships can create lasting relationships that help launch a startup to new heights.
The FWD Startup Studio Accelerator, according to Bikesh Lakhmichand, Founding Partner of 1337 Ventures, offers startups a fantastic chance to work with FWD Insurance to investigate a proof of concept (POC) solution and gain access to mentors and decision-makers within the FWD Group.
