Fintech Proof-of-Concept Subsidy Scheme

Objective:

The Financial Services and the Treasury Bureau (FSTB) announced on January 6, 2021, the Fintech Proof-of-Concept Subsidy Scheme (“the PoC Scheme”) will open for application from February 26, 2021. The PoC Scheme aims to encourage traditional financial institutions to partner up with Fintech companies to conduct PoC projects on innovative financial service products.

Submission Criteria:

Applications must be submitted by a Hong Kong registered company which has a fixed physical office in Hong Kong and with its main business being in the Fintech fields as below, jointly with a financial institution regulated by the Hong Kong Monetary Authority, the Securities and Futures Commission, the Insurance Authority and/or the Mandatory Provident Fund Schemes Authority.  The PoC project must address practical issues faced by the financial institution concerned with no prior used-case in the market.