Marvelstone opens Smart City Innovation Lab in Singapore CBD

The facility will focus on fintech, blockchain, and AI for 20,000 startups and institutions.

Family-owned hedge fund Marvelstone Group opened a Smart City Innovation Lab in the Central Business District (CBD) of Singapore.

According to an announcement, the lab will facilitate the development of joint venture projects with banks, corporates, and governments. "It will focus on three main areas: fintech, blockchain, and artificial intelligence (AI). By partnering with LATTICE80 and AI Hub, the Innovation Lab will be a facility to connect 20,000 global startups and institutions," it said.

Marvelstone Group will actively invest in startups and venture-build businesses in collaboration with corporates and governments. The Innovation Lab will showcase designs of cities of the future and how latest innovations in technology are impacting our overall daily life.

Marvelstone Group co-founder and chairman Joe Seunghyun Cho commented, “Under the leadership of Prime Minister Lee Hsien Loong, Singapore government is currently providing one of the best platforms globally to develop and test Smart City solutions. I, also, strongly believe Singapore is the right hub to connect emerging and developed markets.”

Marvelstone Group has various partnerships to co-create Innovations globally. It has recently partnered with Seoul Metropolitan Government to support its Fintech Incubation Centre, and also partnered with the IOTA Foundation to open a JV Innovation Lab in Singapore.