FinTecubator, the Hang Seng internal start-ups incubation programme, has successfully sparked dozens of innovative start-up ideas in late 2019. Among them, five have excelled in the screening process and are now going through incubation with the assistance from both internally and externally.
Facing a fierce market competition, Hang Seng Bank has initiated FinTecubator programme, a Fintech incubation project, stimulating staffs to create new and innovative Fintech business to increase its competitiveness. With the resources and the support that the bank provides, intrapreneurs are encouraged to explore a blue market business and at the same time, to cultivate their working skills.
Started from mid-2019 with the slogan of ‘Innovation is a verb’, Several Start-up Speed Dating Events were held in Xi’an and Guang Zhou in China for ideas sharing and team forming. The application process then rolled out on 10th September, offering the chance for Hang Seng staffs to present their business proposal on building a new product or service.
Later, at the beginning of October, Hang Seng Bank organized an innovation challenge competition, namely ‘openlab x FinTecubator’, calling for more creative talents to participate in this programme?
By 18th October, we had received seventeen proposals in total and five of them were admitted to the next stage. Thus, they received an initial seed fund respectively to boost their launching.
FinTecubator team is now following the incubation process and adds fuel to it with external support. For example, we invited Prof. Dominic Chan from The Chinese University of Hong Kong to deliver training in which the intrapreneurs could have a deeper insight into the market and equip themselves with the entrepreneurship skills as well as mindset.
In 2020, more resources will be put in the programme to accelerate the incubation process of the start-up ideas, with the objective of helping at least two of them to launch to the market and spin off.
Lastly, we appreciate the countless effort that the participants put into their project. They are the indispensable force that pushes the programme forward and helps to provoke innovation inside Hang Seng. We wish, through this start-up journey, they would acquire the skill and experience that could boost their career.
FinTecubator team is pleased to work with them and is expecting to inspire more creative ideas in the future. With your kindly support, we firmly believe that 2020 will be a fruitful year.