Invest Hong Kong (InvestHK) has announced the launch of Global Fast Track 2022, a program that helps fintech companies leverage Hong Kong’s unique advantages to expand in Asia while building a solid foundation for long-term growth.
Returning for its third year, Global Fast Track will be a standalone flagship program that runs throughout the year and is now open to applications from global and local fintech companies through September.
Since fintech companies have varying needs throughout the economic cycle, the one-year program will enable InvestHK, companies, investors and partners to provide long-term, personalized and holistic support to companies.
Global Fast Track’s partner regulators are the Hong Kong Monetary Authority, the Insurance Authority, the Securities and Futures Commission and the Customs and Excise Department.
Global Fast Track’s business matching portal, pitch competition and mentoring sessions will connect qualified candidates with a wide range of champion Asian companies and investors to explore potential business deals and investments.
Additionally, it will for the first time feature service champions selected from a wide range of professional service providers, including but not limited to law firms, marketing agencies, information services and talent development companies.
Outstanding Fintech Companies in Eight Key Fintech Verticals – Commercial Banking; digital assets; InsurTech; InvestTech and WealthTech; Payments; RegTech; Retail banking; and Environment, Social and Governance (ESG) will be invited to participate in an online pitch competition.
Stephen Phillips, Managing Director of Investment Promotion at InvestHK, said:
“The success of InvestHK’s Global Fast Track shows that Hong Kong is one of the most attractive places for fintech companies to grow, scale, impact and thrive.
The expanded program showcases Hong Kong’s unique advantages as a global fintech hub, from enthusiastic fintech adoption and diverse funding opportunities to world-class professional services. In short, Hong Kong has everything a business needs to succeed.
King Leung, Head of Fintech at InvestHK, said:
“As one of the fastest growing scaling programs in the world, Global Fast Track offers qualified candidates direct access to Hong Kong’s thriving fintech ecosystem. Following last year’s success, we have introduced Service Champions to this year’s Global Fast Track to provide even more personalized and comprehensive support to fintech companies.
Selected companies can be confident that they will have sufficient resources to grow their business and achieve their scaling ambitions.
Global Fast Track 2021 achieved significant success with over 300 fintech companies receiving support from over 90 local and regional champion companies and investors.
Last year’s corporate and investor champions included AIA, AlipayHK, AMTD Group, Citi, CITIC Capital, Chow Tai Fook Enterprises Limited, Cyberport, Family Office Association Hong Kong, Greater Bay Area Development Fund Management Limited, Hong Kong Exchanges and Clearing Limited, the Hong Kong Science and Technology Parks Corporation, Hongkong and Shanghai Banking Corporation, LFX, Manulife Hong Kong and Macau, MTR Corporation Limited, SC Ventures, Visa, WeChat Pay HK and more.
They will allow fintech companies to tap into a wider range of relevant expertise to accelerate their business growth.
Qualified fintech companies can begin engaging business, investor, and service champions that match their business needs in one-on-one meetings through the Matching Portal starting in July.
Participants will also have access to mentorship and consultation sessions with champions, regulators and partners to further develop their market entry and growth strategies.
The final of the competition will take place during Hong Kong Fintech Week in November.
Learn more about the full list of champions and the application process here and follow FintechHK on LinkedIn and YouTube. Applications are now open until September.