Fintech Innovation Lab Asia Pacific Returns in 2021, Goals to Assist Early-Stage, Excessive-Potential Startups

The Fintech Innovation Lab Asia Pacific program has now returned for its eighth version this yr with extra alternatives for early-stage and high-potential startups.

Cyberport, a founding companion, will likely be giving finalists from the 2021 cohort the prospect to participate within the 2-year (or 24-month) Cyberport Incubation Program (CIP) and also will present entry to Cyberport’s Marco Fund.

In statements shared with Fintech Information HK, Fergus Gordon, MD and banking business lead for development markets at Accenture, famous:

“Accenture and Cyberport have a standard objective of driving digital adoption within the Asia Pacific (APAC) monetary companies ecosystem. Digital innovation inside monetary companies skyrocketed in the course of the COVID-19 pandemic as banks look to methods to extend effectivity and interact clients amidst an more and more digital panorama. Asia stays a hotbed for innovation amongst each established gamers and startups, and consequently curiosity is surging amongst traders.”

Throughout the previous couple of years, many outstanding Fintech professionals have benefited from collaborating within the coaching workshops and associated networking occasions that happen on the Cyberport Campus beneath Fintech Innovation Lab Asia Pacific.

Although there are COVID-related journey restrictions, the occasion organizers plan to proceed this yr, however actions will likely be carried out in “hybrid” mode. Native groups can meet up in-person with some mentors at Cyberport, in the meantime, the worldwide groups can participate in these occasions by way of on-line platforms.

Gordon added:

“The … 12-week program has nurtured main startups throughout numerous fintech segments together with WeCash, LeapXpert, TNG Pockets and Fano Labs. … Cyberport additionally affords flexi workspace to our cohort throughout this system, a bonus for these non-HK based mostly startups.”

This system’s Alumni have mentioned that the initiative has helped them with taking their firms and concepts to the following degree. They declare it has assisted them with accelerating their development efforts and has linked them with strategic enterprise companions.

59 companies have now graduated from the Fintech Innovation Lab Asia Pacific and have secured a complete of  $716 million in capital.

Eric Chan, Chief Public Mission Officer at Cyberport, remarked:

“20 world-renowned monetary establishments will share their operational ache factors throughout this yr’s program, permitting collaborating startups to contribute revolutionary options that cater to market wants.”

The 2021 program will goal to supply a brand new challenge-based factor which can reportedly embody 6 drawback statements from monetary establishment companions. These drawback statements might embody situations reminiscent of utilizing Regtech to reinforce compliance efforts, enabling development in administration within the Larger Bay Space, and addressing numerous workforce necessities in a post-COVID enterprise surroundings.

The startups that can submit essentially the most interesting or revolutionary concepts might get mentoring from senior administration professionals from 20 main monetary establishments and main Fintechs as effectively. The 2021 program is at the moment accepting purposes (till Could 17, 2021).