Hong Kong Exchanges and Clearing Limited (HKEx) Joins Baidu and Others To Support A FinTech Accelerator In Hong Kong

A new Hong Kong based FinTech accelerator, The SuperCharger announced that Asia’s largest exchange group by market capitalisation, Hong Kong Exchanges and Clearing Limited (HKEx), has become a Supporting Organisation. The SuperCharger accelerator mainly focuses on the financial technology sector in Asia. It is the first program dedicated to both startups and more established global FinTech companies aiming to capture the Asian growth market. The program leverages Hong Kong's traditional strength as Asia's finance and technology gateway.

Hong Kong Exchanges and Clearing Limited (HKEx) will join the other existing strategic founding sponsors of the accelerator that include Standard Chartered, a leading international banking group and one of the Hong Kong’s three note-issuing banks, Baidu, China’s leading internet search engine and TusPark Global Network (TGN), which originated from Tsinghua University. Baidu will make available its API platform to connect FinTech providers and developers, for whomTGN’s 20 years of expertise in operating technology parks and accelerator programs will be of great help to FinTech startups. Likewise, as HKEx is the core infrastructure of Hong Kong’s financial markets, it will share its knowledge with the bright minds in FinTech.

The historic opening-up of China’s capital markets offers tremendous opportunities for Hong Kong across multiple asset classes, and HKEx has been setting the pace with unique and innovative solutions such as Shanghai-Hong Kong Stock Connect.

Charles Li, Chief Executive of HKEx said, "Harnessing the vibrant creativity that Hong Kong's startup community offers is hugely important to our future. We are excited to be partnering with the SuperCharger Accelerator and look forward to working together with its participants over the coming months, and we hope beyond."

The SuperCharger has a 12-week program for FinTech startups. The first accelerator batch will run from January 11, 2016 to April 8, 2016. The SuperCharger has designed a structured curriculum to create success. The accelerator will assist with company building, mentorship and advice in areas such as market entry, regulatory obligations and joint venture opportunities. The program itself coincides with the peak time of financial and startup activity. Within the first 3 weeks of the program, teams will be exposed to the Asian Financial Forum and the Invest HK Startme-Up week, providing a great opportunity for companies to get plugged into the global ecosystem and engage with world class decision makers. Through the SuperCharger, FinTech entrepreneurs will get access to 200+ VC firms and mentors and a 50,000 sq. ft. working space in Hong Kong.

FinTech is gaining rapid momentum in Hong Kong and the whole of Asia. Hong Kong is also one of the locations for the FinTech Innovation Lab accelerator program. In an interview, Simon Galpin, director-general of investment promotion for Invest HK said, One of the areas where we see real potential for Hong Kong to emerge as an innovative hub is in FinTech because we are a major financial services centre; we’ve got a significant percentage of our GDP coming from financial services directly and indirectly. Recently, the government in Hong Kong has also been focusing on measures to make regulation easier for FinTech startups in Hong Kong. At the Thomson Reuters Pan-Asian Regulatory Summit in October, Secretary for Financial Services and the Treasury Chan Ka-keung said, "We are focusing on measures needed to promote FinTech in Hong Kong, especially to address any potential and existing gaps. And we hope to prepare a blueprint on the sector's development in the near future.