The PoC Scheme
The Financial Services and the Treasury Bureau (FSTB) launches the Fintech Proof-of-Concept Subsidy Scheme 2022 (the “PoC Scheme”) aiming to encourage traditional financial institutions (the “FIs”) to partner up with Fintech companies to conduct Proof-of-Concept project (the “PoC project”) on innovative financial service products.
The PoC Scheme is administered by the Hong Kong Cyberport Management Company Limited (HKCMCL), which is wholly owned by the HKSAR Government. It provides early-stage funding support for the pre-commercialisation of leading-edge financial technologies that help the financial services industry.
How does the PoC Scheme work?
Eligibility:
- Applicant must be a company registered (or research institute) in Hong Kong which conducts substantive Fintech activities
- Applicant is required to partner with a regulated FI for sponsoring the IT supports to conduct the PoC project
- The PoC project must be an original and innovative Fintech project with a strong commercial potential to the financial services industry
Mission:
- Deliver the scope of work in the approved project proposal
- Report project progress and provide final report with deliverables endorsed by sponsoring FI
- Each approved PoC project must be completed in 3 months, or 6 months for project with greater complexity and broader usage
Funding:
- Approved PoC project is 100% subsidised by the PoC Scheme with funding up to HK$150,000. Deserving PoC projects with greater complexity and broader usage involving cross-sector or cross-boundary/border applications(e.g. Involving the Guangdong-Hong Kong-Macao Greater Bay Area or Association of Southeast Asian Nations) can be funded up to HK$200,000
- For Projects with wide impact and address important issues in the fintech industry, the subsidy amount may go up to HK$ 400,000
- Eligible applicants and PoC projects will be reviewed and approved by the HKCMCL before the funding is granted
Application:
- Applicant can apply a maximum of three PoC projects
- Phase 1 (from 26th of Sep 2022 to 30th of Nov 2022)
- Phase 2 (from 09th of Dec 2022 to 31st of Jan 2023) (If funding is still available)
Submit an Online Application
Eligibility Check
Result Announcement
(within 6 weeks)
(within 6 weeks)
Initial payment Payment (advance payment)
Deliver Scope of Work and Reports
Final paymentPayment
