Invest Hong Kong announced details of its UK Fintech Awards 2018, organized in conjunction with the UK’s Department for International Trade, to tap the rich seam of Fintech talent in the UK and showcase the exciting opportunities Hong Kong presents as a conduit to Asia.
The Awards are open for submissions from today (January 22) and close at 18:00 GMT on February 23. The best entries will be shortlisted to participate in a pitching competition judged by sector experts from both the UK and Hong Kong.
The winners of the two grand prizes and other prizes of the Awards will be announced at a ceremony that will take place on March 20 at The Anthologist during the Innovate Finance Global Summit 2018 (IFGS) in London. More details about this will be announced shortly here.
The Awards follow the launch in September of the UK-Hong Kong Fintech Bridge (“the Bridge”) to foster closer collaboration at government, regulator and business level in the Fintech sector. Both the UK and Hong Kong are global financial centers with vibrant Fintech sectors that present huge opportunities in both markets.
In this instance, the Bridge aims to encourage Fintech firms to use the facilities and explore new business opportunities in Hong Kong. For the Awards, key Fintech partners are Hong Kong’s Cyberport and London-based FINTECH Circle. They will participate in the selection process and the programme of activities in Hong Kong for the winners.
The two winners will be given complimentary flight tickets in business class to Hong Kong sponsored by Cathay Pacific, plus accommodation for five days. In Hong Kong, they will receive introductions, networking opportunities and sector expert counsel on how to expand and scale their business in and through Hong Kong to Asia and beyond.
Thorsten Terweiden, InvestHK’s Deputy Head of Fintech based in London, said:
“We’re very excited about this new award, and about the possibility of introducing top Fintech talent from the UK to the range of opportunities that exist in Hong Kong. The experience will undoubtedly be hugely informative and helpful, but it will also be a real game changer for the winner.”
Andy Burwell, the UK’s Department for International Trade’s Director of Investment in Hong Kong, said
“The UK is a global leader in innovation and FinTech talent. Supported by the FinTech Bridge, InvestHK’s UK FinTech Awards 2018 will provide an ideal platform for UK companies to explore the vibrant Hong Kong FinTech market and enable them to export to Asia and beyond”
To enter the competition, companies must be:
- In the financial technology sector with an interest to expand the business in Hong Kong and mainland China
- Headquartered in the UK, without an office in Hong Kong or mainland China
- At least two years of operation and in mid-growth stage of development
Eligible companies are invited to submit a 3-to-5 page business plan that outlines their strengths and competencies in the following areas:
- Innovation
- Market growth potential
- Team’s experience and background
- Prospect for expansion in Hong Kong and mainland China
Two Grand Prizes:
Subsidised five-day bespoke programme to each company in Hong Kong with:
- One business class return flight ticket in October 2018
- Hotel accommodation
- A programme of introductions, networking opportunities, and sector expert counsel
- One complimentary booth and ticket for Hong Kong Fintech Week in October 2018
Three Runners-up Prizes:
- One complimentary booth and ticket for Hong Kong Fintech Week in October 2018
- Support getting some media exposure
- Exclusive introductory programme by InvestHK London Office
Fintech companies in the UK are invited to submit their proposals to fintech@investhk.gov.hk, with the e-mail subject “Application for UK Fintech Awards” by 18:00 GMT February 23. InvestHK looks forward to receiving submissions.
