According to Google Hong Kong’s “Smarter Digital City – Advancing Hong Kong’s FinTech Ecosystem” Report released in August, 98% of FinTech start-ups surveyed consider the use of the right technologies and solutions important for product innovation and staying agile in the current market conditions.
75% of surveyed FinTechs acknowledged the importance of digital marketing solutions, however less than half are making good use of data analytics and visualization tools.
The research, which aims to examine the gaps and opportunities in the FinTech industry, hinted at 3 areas for better support of FinTechs - adopting the right solutions to drive sustainable growth; building with data and security in mind, and investing early; reskilling and upskilling talent are crucial.
The report also found that most FinTech start-ups would like to see more public and private partnerships to bridge the talent gap.
Since Cyberport and Google launched the Igniting Startups & FinTechs Program, more than 120 Cyberport start-ups have enrolled to the program and 24 of them would be selected to receive up to US$200,000 Google Cloud credits to scale and build their businesses. Extended support will also enable them to use Google’s cloud, mapping, and digital marketing services to supercharge their growth and business development.
“We are glad that the Igniting Startups & FinTechs Program has met with keen participation from start-ups and addressed their needs,” said Eric Chan, Cyberport’s Chief Public Mission Officer. “In fact, our goal to connect start-ups to strategic support and resources was the reason we created the Cyberport Technology Network, of which Google is a valued member. We look forward to collaborating with more partners to enrich our support to start-ups and foster Hong Kong’s FinTech success.”
