Can I submit multiple entries? What category would my project fall under?

You may submit multiple entries as long as they relate to different projects. There is no need to indicate which category you are applying to, as the evaluation team will decide on the best category fit for a given entry.

 

My project was implemented on [Date]. Does this fall under the qualifying period?

Projects, including betas and proofs of concept, will be eligible for consideration if the date of completion falls before 30 Jun 2016.

 

What is the relative weightage of each assessment parameter?

The weight is distributed equally. Applicants will be scored on a 40-point scale, with each parameter accounting for 10 points.

 

How many winners will there be across the categories? What is the prize breakdown across the categories?

There is no predetermined number of winners across the categories. MAS and ABS have made provisions for up to SGD$1.15M for up to 10 winners across 4 categories and reserve the right to revise the figure depending on the number and quality of eligible entries. For the ABS Global FinTech Award, there is a maximum of one winner.

 

How are SMEs defined? What is the difference between the categories?

SMEs (Small-Medium Enterprises), as defined by SPRING, are enterprises with an annual sales turnover of not more than SGD$100 million OR an employment size of not more than 200 workers. Enterprises qualify as SMEs as long as they satisfy at least one of the two parameters above.

  1. MAS FinTech Awards (Singapore Founder): Singapore-based SMEs with at least one Singaporean founder. The term ‘founder’ is defined as an individual who was instrumental in setting up the SME. There is no need for majority share-ownership.
    • The SME must have a physical office registered in Singapore
    • The solution must have been implemented in Singapore
  2. MAS FinTech Awards (Singapore SME): Singapore-based SMEs
    • The SME must have a physical office registered in Singapore
    • The solution must have been implemented in Singapore
  3. MAS FinTech Awards (Singapore Open): Singapore-based companies of any size
    • The company must have a physical office registered in Singapore
    • The solution must have been implemented in Singapore
  4. ABS Global FinTech Award: FinTech project implemented in any part of the world by any company

 

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