Judul : HK FinTech Week: Deals Expected
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HK FinTech Week: Deals Expected
Hong Kong is gearing up to host its annual FinTech Week in November, promising an expansive marketplace for cutting-edge technologies and a hub for global investment opportunities. Senior officials at InvestHK anticipate a significant influx of international buyers, particularly from the Middle East and the Global South, eager to explore potential collaborations and investments.
King Leung, Global Head of Financial Services, Fintech, and Sustainability at InvestHK, noted a shift in the nature of participation. He explained that while last year's event served as an exploratory "study trip" for some delegations, this year's attendees are expected to be more decisive and investment-ready. "They are coming prepared. We expect some action in terms of investments and partnerships," Leung stated.
The 10th annual FinTech Week is scheduled to run from November 3rd to 7th, coinciding with the StartmeupHK Festival. This joint event, a collaboration between the Financial Services and the Treasury Bureau, the Commerce and Economic Development Bureau, and InvestHK, is projected to draw over 37,000 participants and more than 700 exhibitors representing 100 economies.
A lineup of prominent speakers is set to grace the event, including:
- Jenny Johnson, President and CEO of Franklin Templeton
- Tomasz Stanczak, Co-Executive Director of the Ethereum Foundation and Founder of Nethermind
- Georges Elhedery, CEO of HSBC Group
- Bill Winters, CEO of Standard Chartered Group
Alpha Lau Hai-suen, Director-General of InvestHK, emphasized Hong Kong's unique position as a comprehensive platform for investors seeking a wide range of solutions. "Investors tend to buy a full suite of solutions, and where else could you find it except in Hong Kong... where you can do the shopping under one roof," she asserted.
Leung further elaborated that the event will facilitate connections between investors and technology providers from diverse regions, including China, Europe, the Gulf Cooperation Council (GCC) countries like Saudi Arabia and the United Arab Emirates, and other global markets, fostering the signing of business and investment agreements.
A competitive selection process has identified 55 companies from 14 countries, including China, Singapore, the US, and the UK, to present their innovative ideas to global venture capitalists. These companies were chosen from a pool of over 700 applicants.
Leung highlighted the opportunity to showcase emerging companies beyond the established giants. "Most of these countries have only heard of the Ant Financials [of the world]... or Tencent-invested companies, but there are next-tier companies that are really good," he explained. "We are trying to create a platform in Hong Kong, so we can showcase these truly world-class capabilities." He also pointed to healthtech as a particularly attractive area for insurers.
Anthony Sar, Founder and CEO of Finoverse, the event organizer, declared this to be the largest business finance technology event in Hong Kong's history. He noted that the event's scope has expanded beyond traditional finance to encompass insurance, artificial intelligence, and advanced biotechnology.
Leung confirmed a positive trend in Hong Kong's fintech landscape, with a notable increase in the number of fintech organizations and a rapidly growing segment of fintech-focused investors.
Jayne Chan, Head of Startups at InvestHK, revealed that Hong Kong's fintech start-ups secured approximately US$2.4 billion in funding last year. "We expect to see something even exceeding that this year," she said, citing strong investment momentum from venture capital in Hong Kong's healthtech start-ups. "We are seeing companies and investors really picking up on pharmaceutical and medical-device companies, especially in family offices," Chan added.
Over the past decade, Hong Kong has become home to approximately 4,700 start-ups across various co-working spaces, accelerators, and incubators, according to Chan.
While fintech, information technology, computing, and e-commerce have historically been the dominant sectors, Chan noted that health and green technologies are now emerging as "the most promising fields".
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