Singapore fintech startup participates in MaGIC Accelerator Program

Traderwave, a Singapore-based fintech startup, has announced its participation in the MaGIC Accelerator Program, which is the biggest startup accelerator in Southeast Asia to promote entrepreneurship across the continent.

According to the official release, the MaGIC Accelerator Program is an initiative of the Government of Malaysia and the Malaysian Global Innovation & Creativity Centre. The four-month long program that started on 23rd August 2016, is scheduled to end on 8th December 2016. The company is one among the three Singaporean startups to make it to the fully-funded residential program.

“We are honored to be one of the only three Singapore startups selected for this accelerator program. After bootstrapping under the radar for more than a year, we will make use of this opportunity to establish further validation of our product offerings and look to raise our first round of external funding by the end of the program,” Philip Teo, the Founder and CEO of Traderwave said.

After rigorous selection process based on three key criteria’s – prospects of regional and global expansion, early-stage investment readiness and potential of highly scalable products, the participants for the final cohort of the MaGIC Accelerator Program were selected. This year, the program saw more than 500 applicants across 30 nations, amongst which only 50 startups were selected. The selected startups gain access to world-class mentors, monthly-stipend, accommodation, workspaces and other benefits. Traderwave aims to build a comprehensive trading workflow solution by utilizing modern web technologies.

Founded in 2015, Traderwave is a financial technology company that aims to use modern web technologies to build a complete trading workflow solution for global retail traders, so as to provide them the convenience to shortlist, analyze, execute, journal and review their trading ideas from one single web-based platform that is broker neutral.