Invest Hong Kong is to run a Global Fast Track programme to plug the best and brightest fintech startups directly into the territory's financial ecosystem.
Run virtually as part of Hong Kong Fintech Week, selected fintech ventures will pitch their ideas to the Hong Kong Monetary Authority (HKMA) and senior executives of leading institutions including Hong Kong Exchanges and Clearing (HKEX), Allianz Global Investors, Mizuho Bank, Microsoft and more. 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.
Fast Track 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 August 31.
About 10 companies per vertical with the most outstanding ideas will showcase their technology for an opportunity to join a tailored B2B matchmaking programme with corporate partners and investors.
The head of fintech at InvestHK, King Leung, says: "In addition to potential deals and investment, 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."
HKEX innovation lab lead Lukas Petrikas, comments: "HKEX uses world-leading technology to power our busy capital markets. To keep making these markets more efficient, and even more relevant to changing economic conditions, we embrace this opportunity with the Fast Track programme to engage with the latest fintech developments and meet rising stars from around the world."