How HKSTP and Ant Group plan to support fintech startups

The companies' joint initiative will provide venue and logistics support for startups.

The Hong Kong Science and Technology Parks Corporation (HKSTP) and Ant Group joined hands in a bid to help startups take their ideas to the market.

Under the joint initiative, HKSTP will provide venue and logistics support, and facilitate discussions with promising startups in its roster of over 1,000 tech-driven ventures participating in incubation programmes.

Ant Group, for its part, will provide business insight and practical resources, such as platform access for proof-of-concept testing and the possibility of equity investment.

To kick off the initiative, online meetings and mutual visits with Ant Group executives will be held to discuss potential business opportunities.

The companies said they are also eyeing to hold industry showcases in the future.

HKSTP CEO Albert Wong said their partnership with Ant Group will “usher a wave of new fintech opportunities and innovation for entrepreneurs in the GBA and beyond.”

“By sharing and leveraging Ant Group’s operational experiences in Chinese mainland coupled with its well-established ecosystem, we can assist local or foreign next-gen FinTech startups to set foot in the GBA, which is in line with the ‘GBA InnoExpress’ programme promoted by HKSTP. Meanwhile, riding on our overseas investments, we can also help entrepreneurs to go global, especially in the ASEAN region,” added Tan.