InvestHK launches Global Fast Track 2021 program

Invest Hong Kong (InvestHK) on Thursday (June 17) announced that the Global Fast Track 2021 program is now open for applications from fintech scale-ups and established firms intending to scale from Hong Kong, Asia's leading fintech hub, to the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), Asia and beyond. This is a special program led by InvestHK to promote fintech business adoption in Hong Kong. Selected companies will earn a spot to be showcased prominently at Hong Kong FinTech Week 2021 from November 1 to 5.

Also read: FintechHK Fast Track | How to accelerate your success in Fintech? What GBA has to offer?

This year's program is the most comprehensive one to date, bringing together several of Hong Kong's soft-landing support programs into a single Global Fast Track scale-up offering. All qualified applicants will enjoy one of the most promising scale-up opportunities for fintech enterprises in the world with fast-tracked access to potential clients among the leading financial institutions and corporations, as well as access to strategic fintech investors.

"As a pre-eminent fintech hub, Hong Kong offers amazing scale-up and growth opportunities. As a strategically positioned gateway to Asia and, of course, mainland China including the GBA, and with its free and open market and resilient business environment, Hong Kong is a magnet for global talent and entrepreneurial innovation. This year's Global Fast Track will showcase the best of what Hong Kong has to offer," the Director-General of Investment Promotion at InvestHK, Mr Stephen Phillips, said.

Now in its second year, the program is tailored to the needs of every local, Mainland and overseas fintech company. It will introduce them to the program's Corporate and Investor Champions who will explore business opportunities with them on their Global Fast Track journey. The group of more than 50 Champions represents a wide spectrum of Hong Kong and international companies, including banks, tech giants, insurance firms and conglomerates. The matchmaking portal can be used by the Champions to arrange one-on-one meetings with applicants after they have been paired as part of the initial matchmaking process.

The Corporate and Investor Champions include Hong Kong Fintech Week Strategic Partner AMTD Group. The other Corporate Champions include Bank of China Hong Kong, Eureka Nova, Hong Kong Exchanges and Clearing Limited (HKEX), HSBC, LFX (by Li & Fung Limited), Manulife Hong Kong and Macau, and many more. The Investor Champions include Chow Tai Fook Enterprises Limited, Cyberport, Greater Bay Area Development Fund Management Limited, Hong Kong Science and Technology Park Corporation (HKSTP), SC Ventures (by Standard Chartered), Trustar Capital (of CITIC Capital Holdings Limited) and more.

Global Fast Track is inviting companies from nine key finance verticals (Commercial Banking; Investment, WealthTech and Capital Markets; Retail Banking; Personal Finance; InsurTech; RegTech; Digital Assets; Payments; and Environmental, Social, and Corporate Governance) to submit their applications from now until September 10. The most promising fintech enterprises will be invited to enter a pitch competition adjudicated by a judging panel formed by the Champions. The winners will be announced during Hong Kong Fintech Week in November.

Scaling rapidly in Asia via HK

Global Fast Track is a collective endeavour is led by the Financial Services and Treasury Bureau and with the Hong Kong Monetary Authority, the Insurance Authority and the Securities and Futures Commission as Partnering Regulators; Cyberport, HKEX and HKSTP as Partners; and Corporate and Investor Champions. It provides a comprehensive soft-landing package to fintech companies, ensuring they receive constant support and aftercare services. Global Fast Track is just the first step for fintech enterprises to realise their scaling potential. Applicants will be guided through a step-by-step process to explore the fintech ecosystem and scaling their business from the moment they arrive. Please refer to the Annex for details.

"This year's Global Fast Track is bigger than ever. Fintechs can access a one-stop-shop accelerator program that has been carefully tailored to suit their needs and ambitions for scaling. InvestHK is proud to collaborate with the public sector and the Corporate and Investor Champions from the business sector, calling on the diverse and rich expertise of Hong Kong's fintech ecosystem," the Head of Fintech at InvestHK, Mr King Leung, said.

Learn more about the full list of Champions and the application process here.