Invest Hong Kong (InvestHK) had announced today the official launch of its year-round fintech accelerator Global Fast Track 2023 (GFT).
The accelerator is established through three pillars – the Global Scaleup Competition, the Business Matching Platform, and the always-on GFT Alumni Programme.
InvestHK and partnering regulators of the 2023 GFT, including the Hong Kong Monetary Authority, the Insurance Authority, the Securities and Futures Commission, together with the Customs and Excise Department, set the goal and vision to facilitating the world’s most innovative fintech firms to launch and succeed in Hong Kong, across Asia, and beyond.
This year, InvestHK appointed WHub as co-organiser of the GFT 2023. With its passion for boosting startups and fostering the Hong Kong startup ecosystem, WHub accelerates startup business through meaningful connections with accelerators, incubators, the Government and investors.
Here’s what you need to know about the Global Fast Track 2023
1. Global Scaleup Competition
Unlike previous years, the GFT 2023 has introduced the Global Scaleup Competition, with physical semi-finals across 12 cities and one virtually, from June to September.
The 12 cities are; Bangalore, Bangkok, Berlin, Dubai, Hong Kong, London, New York, Paris, Shenzhen, Singapore, Tel Aviv, and Toronto.
Thirteen finalists from fintech, artifical intelligence, and Web3 scaleups will be selected to pitch in person in the grand finale at Hong Kong Fintech Week 2023.
This opportunity not only provides unmatched exposure to over 30,000 visitors, it also unleashes business opportunities through one-on-one meetings with Corporate, Investor and Service Champions, consultation sessions with regulators, and a winning potential investment of up to US$3 million from venture sponsors AngelHub and Club Deal.
Applications are open now till July. Further details and the semi-finals’ schedule can be found here.
2. Business Matching Platform
Going live online in the third quarter of 2023, the FintechHK Community Platform will serve the GFT community by enabling one-on-one business matchings.
Through the platform, GFT Champions are able to explore and connect with suitable fintech firms. Other off-line activities such as mentor sessions by industry partners, business networking and more will also be featured on the platform.
3. GFT Alumni Programme
The FintechHK Community Platform will also support the GFT Alumni Programme which provides year-round business networking and advice to empower fintech firms to build sustainable businesses in the region.
Last year, GFT received over 400 fintech applications from across 45 economies, and support from over 100 Champions across three categories – Corporates, Investors and Service Providers.
The programme facilitated over 175 one-on-one business meetings.
King Leung, Head of Fintech at InvestHK said,
“Since the start of the year, we have been thrilled to reconnect with the world in person. We have engaged in many events and networking opportunities, and the message that ‘Hong Kong is back’ is loud and clear. With new partnerships and ideas, we will continue to push forward as Hong Kong cements its status as a leading fintech hub and the gateway for next-generation fintech companies worldwide. I look forward to an even more exciting year with participation from companies all around the world.”
InvestHK is the department of the Hong Kong Special Administrative Region Government responsible for attracting foreign direct investment.
It has a dedicated fintech team to attract the world’s top innovative fintech enterprises, startup entrepreneurs, investors, and other stakeholders to set up and scale their business via Hong Kong into Mainland China, Asia and beyond.
For more details on the Global Fast Track 2023, click here.
