World-Class technology start-ups from Asia Pacific to converge at Cyberport for FinTech Innovation Lab Asia-Pacific – a 12-week mentorship programme with leading financial institutions.
Hong Kong, 15 July 2014 – Hong Kong Cyberport Management Company Limited (Cyberport) today announced it is supporting Accenture’s newly launched FinTech Innovation Lab Asia-Pacific (the Lab) – a programme to support early-and-growth stage financial technology companies and provide collaboration opportunities with some of Asia-Pacific’s leading financial institutions.
Cyberport will provide work space to Lab participants, and help Accenture and participants facilitate relationships with the wider start-up community converging in Hong Kong. The Lab is open to all types of financial technologies.
As the workspace solution provider of this prestigious programme, participants will occupy Cyberport’s Smart-Space, equipped with state-of-the-art ICT facilities, and support their relationship with the wider start-up community that converges in Hong Kong. Cyberport has created an ICT community with like-minded individuals and industry players inside the campus as part of a tech ecosystem.
In particular, Cyberport’s Incubation Programme provides a comprehensive support structure offering rent-free office space, funding to help with training, marketing and other expenses, advanced ICT facilities and resources, as well as mentoring and training for tech entrepreneurs.
The Lab is modelled on sister programmes in two other global financial hubs, New York and London. Hong Kong had been chosen to host the programme in Asia-Pacific thanks to its position as a regional hub for the banking industry, the gateway for Mainland China investment and an up-and-coming Asia centre for technology.
“We’re thrilled to team up with Accenture to bring the Lab in Hong Kong, which confirms Hong Kong’s unique role in driving technology and innovation in the region’s financial industry,” said Paul Chow, Chairman of Hong Kong Cyberport Management Company Limited. “Financial technology is one of our key areas of focus. We believe that Hong Kong, being an international financial centre with world class structure and a robust start-up ecosystem, has great potential in becoming the regional hub for financial technology innovation.”
Cyberport has long been home to local and overseas start-ups companies which are ambitious to achieve success in multiple markets. Through its global networks, Cyberport has a track record of helping talented start-up companies admit to various world-class accelerator programmes such as Microsoft Ventures, 500 Startups, Techstars, and StartX.
“We are delighted to help bring together start-ups from across Asia-Pacific to Cyberport to help foster fintech in Hong Kong through the FinTech Innovation Lab Asia-Pacific,” said Sushil Saluja, Senior Managing Director, Head of Financial Services for Asia-Pacific at Accenture. “The Lab helps put Hong Kong at the heart of fintech development in the region.”
The establishment of the Lab is appreciated by Daniel Lai from Office of the Government Chief Information Officer as the programme provides good opportunities to commercialize great financial solutions and products and ultimately to contribute to the growth of Hong Kong financial industry.
“This is the first year for this programme to be hosted in Hong Kong. We have a bustling technology start-up community, and a tech-savvy population who are eager to make use of the latest technological products and services for their day-to-day activities, including those dealings with banks and financial institutions.”
“The Lab will provide great opportunities for outstanding technology start-ups in the city to collaborate with the international financial institutes. By hosting FinTech Innovation Lab in Hong Kong, we will reinforce our position as Asia’s financial and technology hub,” commented Daniel Lai, Government Chief Information Officer of HKSAR Government.
How the lab works Under the Accenture programme, a maximum of seven start-ups will be chosen via a competitive selection process to participate in a 12-week programme that kicks off in September. Participants commit to stationing in Hong Kong throughout the 12 weeks, during which they will be mentored by leading financial services industry executives who will help them fine-tune and develop their technologies and business strategies through a series of workshops, panel discussions, user-group sessions, networking opportunities, one-on-one meetings and presentations. Mentors will provide feedback on products for potential future deployment.
The Lab will be concluded with a Demo Day in December this year, giving the entrepreneurs an opportunity to present their products to an audience comprised of financial institution executives and potential investors.
Application for FinTech Innovation Lab Asia-Pacific is open until 31 July 2014. Successful applicants will be notified in September. For more information about the programme, please visit: http://www.fintechinnovationlab.com.
Cyberport is a creative digital community with a cluster of 250+ technology and digital tenants. It is managed by Hong Kong Cyberport Management Company Limited which is wholly owned by the Hong Kong SAR Government.
With a vision to establish itself as a leading information and communications technology (ICT) hub in the Asia-Pacific region, Cyberport is committed to facilitating the local economy by nurturing ICT industry start-ups and entrepreneurs, driving collaboration to pool resources and create business opportunities, and accelerating ICT adoption through strategic initiatives and partnerships.
Equipped with an array of state-of-the-art ICT facilities and a cutting-edge broadband network, the Cyberport community is home to four grade-A intelligent office buildings, a five-star design hotel, and a retail entertainment complex.