FSTI 3.0 — Innovation Acceleration (Early Innovation)

FSTI Innovation Acceleration — Early Innovation

Funds early Singapore fintech pilots through MAS-backed experimentation support in financial technology.

The FSTI Innovation Acceleration — Early Innovation grant is administered by the Monetary Authority of Singapore (MAS) under the Financial Sector Technology and Innovation (FSTI 3.0) scheme, which remains open until 16 July 2026. The grant funds the experimentation, development, and dissemination of nascent innovative technologies within Singapore's financial services sector. Eligible technologies include AI, blockchain, quantum computing, data analytics, cybersecurity, and adjacent deep-tech with a demonstrable financial-sector application.

MAS co-funds up to 50% of qualifying project costs, capped at SGD 400,000 per project, for projects running up to 18 months. Eligible cost categories include basic manpower (basic salary and employee CPF contributions only—employer CPF, bonuses, and allowances are excluded), professional services from locally-based vendors, equipment and hardware, and data or software licences. Three applicant types qualify: MAS-regulated financial institutions; technology or solution providers working with MAS-regulated financial institutions; and technology providers developing novel tools to improve the efficiency or productivity of Singapore's financial services sector. Individual founders and universities are not directly eligible.

Applications are evaluated in quarterly cycles. Q1 accepts submissions from 1–31 January, with panel evaluation running 1 February–31 March; Q2 accepts submissions from 1 April–15 May, with panel evaluation from 16 May–15 July. An external panel of industry practitioners assesses novelty, utility, and likelihood of success before MAS makes the final award decision. MAS explicitly cautions against starting projects before grant approval, as pre-commencement costs are ineligible. Application forms and project proposal outlines are available via the MAS website; submissions are made through the FormSG portal.