New Hong Kong Incubator Receives Major Backing

October 27, 2024 by

Image credit: Francisco Martins

A new financial technology incubator in Hong Kong has received major backing from companies across the globe.

Arguably the first of its kind in Hong Kong, the SuperCharger FinTech Accelerator has received backing from both Chinese search engine giant Baidu as well as UK investment bank Standard Chartered. The partners of the incubator believe the partnerships created through the venture will launch Hong Kong into the global fintech scene.

Hong Kong, long seen as the entryway into China, has received particular attention with the rise of China’s economy. The City-State has also been considered a global financial hub for some time, but was a bit late getting into the fintech scene.

“Hong Kong’s vibrant international financial ecosystem as well as strategic location as a gateway to China … makes it the perfect place to co-create the future of financial services,” said Ericson Chan, regional information officer for Standard Chartered Great China and North Asia.

The incubator, with its combined powerhouse backers, is seen as a major milestone for Chan, who believes Hong Kong is becoming the fintech hub of Asia. Other non-native incubators began setting up shop earlier this year, including the Citibank-backed Accenture accelerator.

SuperCharger FinTech began accepting applications earlier this month and will conclude on November 20th. According to sources from Standard Chartered, industry insiders from Baidu and TusPark will provide a roadshow later this month in Beijing, Singapore, Tel Aviv, London and New York to rally support, partnerships and potential startup participants.

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