Invest Hong Kong (InvestHK) has unveiled the Global Fast Track Program, a business-driven program within Hong Kong Fintech Week (HKFW), to help local and global fintech enterprises scale business and accelerate innovation.
The Fast Track programme plugs fintech enterprises directly into Hong Kong’s diverse ecosystem of world-class regulators, business leaders, corporates and investors to propel their ventures across Hong Kong and elsewhere in the Guangdong- Hong Kong-Macao Greater Bay Area and Asia where digitisation and fintech adoption are surging.
Selected fintech ventures will pitch their innovative solutions to the Hong Kong Monetary Authority and senior executives of corporates including Hong Kong Exchanges and Clearing, AMTD Group, Allianz Global Investors, Chow Tai Fook Jewellery Group, Eureka Nova, Mizuho Bank, Hong Kong Trade Finance Platform Company, FORMS H.K., and Microsoft.
Investors such as AngelHub, Cyberport, Hong Kong Science and Technology Parks Corporation (HKSTP) Ventures, Lingfeng Capital, MindWorks, QBN Capital and Vectr Fintech Partners are also on board with up to US$1 million of investment commitment on offer per project upon further due diligence, business discussions and approval through the protocol as required by respective investors. The program is curated by the HKFW appointed event organizer Finnovasia.
Driving business deals and funding
Fast Track is now inviting companies from nine key fintech verticals (trade finance, capital markets, retail banking, commercial banking, insurance, regtech, wealthtech, payments and enterprise resource planning), to submit applications from now till August 31.
About 10 companies per vertical with the most outstanding ideas will showcase their solutions for an opportunity to join an extensive tailored B2B matchmaking program participating companies and investors to explore further deals and investment partnerships.
Over 10 selected finalists will then pitch virtually at the FintechHK Global Final for extra prizes at this year’s HKFW from November 2 to 6. Fast Track also features the Mainland China Track stream to help Chinese fintech enterprises scale their business overseas via Hong Kong.
King Leung, head of fintech at InvestHK, says each eligible company can also apply for Hong Kong Special Administrative Region Government landing support from US$111,000 up to US$2.6 million, regardless of the pitching outcome.
Supporting fintech entrepreneurs post-COVID-19
While COVID-19 continues to create challenges for the global fintech sector, Hong Kong, with its unique geographical advantage, provides direct access to both mainland China and Southeast Asia, two of the world’s largest and fastest growing fintech markets offering significant long-term opportunities. As a result, pioneers in the fintech space and relevant regulators are eager to tap into this immediate potential by working hand in hand with the world’s brightest and best fintech ventures.
Learn more about the application process here:
- Overseas track: www.fintechweek.hk/fast-track
- Mainland China track: kr-asia.com/challenge/hong-kong-fintech-week-global-fast-track-2020- mainland-china-track