The local office of the U.S. Commercial Service is looking for participants to join a trade mission to Singapore focused on opportunities in financial technology, payment processing and the digital economy.
The Singapore Fintech Festival will be held Nov. 14-18, and the U.S. government’s trade promotion arm is asking companies to join in order to help increase their exports to the fast-growing Southeast Asia region. The U.S. is working with the Monetary Authority of Singapore on the conference.
For many Georgia firms, it makes sense: The state is home to companies that process more than 70 percent of electronic payments in the United States and employ more than 30,000 people by some estimates. While many of those are established players like WorldPay, Elavon and First Data, metro Atlanta has been keen to carve out an ecosystem for startups in the sector.
City officials and economic development leaders have been traveling the globe in recent months — to London, Tel Aviv and beyond — to educate international startups on the city’s potential as an entry point to the U.S. market, with marked success.
But the opportunity also flows the other way: the U.S. market for payments and financial technology is huge, but the volume growth in the sector is happening overseas as new consumers enter the middle class and gain access to mobile devices, banking services and e-commerce platforms. Exposure to global markets helps American companies keep up with innovations and find new customers, and Asia alone is home to about half the world’s population.
The forum includes a hackathon, an awards ceremony and a two-day conference. Traveling with the U.S. Commercial Service gets companies access to country-specific briefings on ASEAN member states, receptions, the conference, accelerator visits, a briefing with the Monetary Authority of Singapore and more.
The cost is $1,000 for small and medium-sized firms or $1,500 for large companies. Travel and accommodations are not included.
Learn more about the festival at www.fintechfestival.sg and sign up to join the delegation here.