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InvestHK unveils new fintech programme

Invest Hong Kong (InvestHK) recently unveiled the Global Fast Track Programme, a business-driven programme within Hong Kong Fintech Week (HKFW), Asia’s annual flagship fintech event, to help local and global fintech enterprises leverage Hong Kong’s proven resilience and fintech opportunities to 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 is surging.

Selected fintech ventures will pitch their innovative solutions to the Hong Kong Monetary Authority (HKMA) and senior executives of Corporate Champions. Investors like Cyberport, Hong Kong Science and Technology Parks Corporation (HKSTP) Ventures and more 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.

Fast Track drives business deals and funding

The programme is 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 31 August. About 10 companies per vertical with the most outstanding ideas will showcase their solutions for an opportunity to join an extensive tailored B2B matchmaking programme with the Corporate Champions 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.

The Head of Fintech at InvestHK stated that the Fast Track programme is a business outcome-driven programme designed and focused purely on accelerating new opportunities for fintech enterprises. In addition to potential deals and investment, each eligible company can also apply for the Hong Kong Special Administrative Region Government landing support from US$111,000 up to US$2.6 million, regardless of the pitching outcome. InvestHK assists worldwide fintech companies to fast-track their next success from Hong Kong.

Hong Kong to fast-track fintech enterprises into post-COVID-19 era

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.

The Chief Fintech Officer at the HKMA noted that collaborating with the worldwide fintech community is key to propelling growth in fintech development. The Fast Track programme provides a unique opportunity to bring together international experts from the public and private sectors who can connect and explore innovative ideas and technology to enhance different financial solutions.

Representatives of fellow Fast Track Corporate Champions gave further testimony on the huge opportunity that Fast Track delivers for start-ups and to their enterprises as key market movers in the fintech sector.

This year’s Fast Track programme at HKFW created opportunities for serious players to connect deeply into the region through joining the local ecosystem networks and tap into diversified pockets of investors and collaborative partners to capture the vast opportunities in the Greater Bay Area and the surrounding region, the Chairman and CEO of a leading Hong Kong-headquartered comprehensive financial institution stated.

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