Hong Kong’s Fintech Proof-of-Concept Subsidy Scheme is now open
Details:
- Target: Interested Financial Institutions, Fintech Companies and Startups based in Hong Kong
- Initiative launched by Fintech HK
- Briefing on the scheme to be held on the 26 Feb 2021 – link here
- The PoC Scheme aims to encourage traditional financial institutions to partner up with Fintech companies to conduct PoC projects on innovative financial service products.
Fintech HK is an initiative launched by Hong Kong’s Investment Promotion Agency – Invest Hong Kong to encourage the growth of the fintech ecosystem in the city.
Recently, Fintech HK launched its Fintech Proof-of-Concept Subsidy Scheme to encourage traditional financial institutions to partner up with Fintech companies to conduct PoC projects on innovative financial service products.
The scheme is targeting financial institutions, fintech companies and startups with the following benefits for participating companies:
- Financial institutions may provide additional financial resources for the subsidized POC projects. The Government has earmarked $10 million for the scheme
- Each approved PoC project will be provided a maximum direct one-off grant of up to $100,000.
- PoC projects with greater complexity and broader usage, with those involving cross-sector or cross-boundary/border applications (e.g. the Guangdong-Hong Kong-Macao Greater Bay Area, ASEAN) may receive a grant of up to $150,000.
Fintech HK is running a briefing session for this scheme on the 26 Feb 2021, to sign up click here
