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The FinLab
The FinLab, co-founded by Janet Young under UOB, runs a zero-equity FinTech accelerator giving startups access to Southeast Asia's largest bank network.
The FinLab
The FinLab launched in 2015 as a joint venture between United Overseas Bank (UOB) and SGInnovate, designed to bridge the gap between early-stage FinTech founders and Southeast Asia's largest banking network. Janet Young, who concurrently leads Group Channels and Digitalisation at UOB, serves as co-founder and Director, anchoring the lab's dual mandate: scout technology relevant to UOB's operations and accelerate companies that can scale across the bank's regional footprint. Shannon Lung runs day-to-day operations as Head of The FinLab, while Felix Tan, the former Managing Director, remains engaged as Mentor-in-Residence. The lab's signature vehicle is a zero-equity, 12-week accelerator program that connects selected startups with UOB's business units for pilot testing and customer validation. Past cohorts have spanned digital identity, trade finance automation, and SME credit scoring — fields where UOB's deposit base and corporate relationships provide immediate sandbox conditions. The firm also operates innovation challenges and themed cycles, such as the Smart City Challenge co-run with Infocomm Media Development Authority of Singapore. Co-investment infrastructure comes from adjacent partners like InnoVen Capital, the UOB-Temasek venture debt platform, and equity crowdfunding portal OurCrowd, which offers alternative bridge financing to graduating startups. Since inception, The FinLab has run over 12 cohorts with more than 60 participating startups, although the firm does not publicly disclose total deployment or follow-on investment amounts. Team size remains private, and operations are concentrated in Singapore with program-based outreach into Malaysia, Thailand, and Indonesia. Adjacent to its investment activity, the founding entities maintain separate philanthropic arms — UOB Heartbeat and Art for All Foundation — which are structurally walled off from The FinLab's commercial operations and governed independently by the bank's corporate responsibility division. The FinLab's structural distinction is its zero-equity accelerator model tied to a commercial bank balance sheet. Unlike Y Combinator or 500 Global, it does not take founder equity; the return comes from technology validation for UOB and strategic optionality on later venture debt or procurement relationships. This makes it a corporate scouting engine rather than a traditional asset manager — a posture that produces deal flow for co-investors like InnoVen Capital but keeps direct fund-level returns opaque to outside allocators. Succession is undefined publicly; governance rests with UOB's senior management committee.
General information
Firm type
Multi Family Office
Year founded
2015
AUM
Undisclosed
Location
Region
Asia
Country
Singapore
City
Singapore
Corporate office
Singapore, Singapore
Principals
Janet Young
Co-founder and Director
Shannon Lung
Head
Felix Tan
Mentor-in-Residence, former Managing Director
Sector focus
Frequently asked questions
How does The FinLab source its deal flow?
The FinLab sources candidates through open calls, thematic challenges, and referrals from its partners at United Overseas Bank and SGInnovate. Each cycle targets companies with solutions relevant to UOB's business lines — SME banking, trade finance, digital identity, and wealth management. The open-application model and Smart City co-challenges with government agencies like Infocomm Media Development Authority of Singapore expand the top of funnel beyond internal bank referrals.
Does The FinLab take equity in the startups it accelerates?
No. The FinLab operates a zero-equity model — participating startups retain full ownership during and after the 12-week program. The firm generates value for UOB through technology validation, pilot proofs-of-concept, and potential downstream procurement relationships. Equity investment may come from adjacent vehicles like InnoVen Capital, but The FinLab itself does not hold founder equity stakes.
Who runs investment decisions at The FinLab?
Shannon Lung, Head of The FinLab, oversees selection and program execution. Janet Young, Director and co-founder, provides strategic oversight as UOB's Head of Group Channels and Digitalisation. Final cohort selection likely involves a committee drawn from UOB business unit heads and SGInnovate representatives, though the firm does not publicly detail its investment committee structure.
What happens to startups after completing The FinLab's program?
Graduating startups may enter commercial discussions with UOB, receive follow-on introductions to venture debt from InnoVen Capital, or access equity crowdfunding through OurCrowd. The lab has reported that several alumni have progressed to larger-scale pilots and procurement contracts with UOB's regional business units, but The FinLab does not publish aggregate graduation statistics or revenue attribution.
How does The FinLab's model differ from a typical corporate venture capital arm?
Traditional corporate VC arms take equity stakes and measure returns through valuations or exits. The FinLab takes no equity and measures success through commercial adoption inside UOB — how many pilots convert to procurement, or how many new capabilities the bank can offer SMEs through portfolio company technology. The structure prioritizes technology integration over portfolio IRR, making it closer to an innovation procurement pipeline than a financial return vehicle.
Does The FinLab invest outside Singapore?
Yes, The FinLab has expanded its mandate regionally. Programs in Malaysia and Thailand — such as the FinLab x CTOS Smart Business Solution cycle — have recruited local startups to solve market-specific SME challenges. The firm uses UOB's existing branch network and commercial relationships in these countries to provide distribution and trial environments for cohort members.
Is The FinLab a family office or an asset manager?
The FinLab is a corporate innovation platform structured as a joint venture between United Overseas Bank and SGInnovate, not a family office. It functions more like an accelerator-consultancy hybrid: it manages a recurring startup program, facilitates venture debt introductions through InnoVen Capital, and serves as a technology scouting unit for UOB. It does not manage third-party capital or operate a commingled fund.
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