Five ways the Hang Seng-Cyberport alliance can help entrepreneurs
It is expected to open up opportunities for Cyberport community companies in the Greater Bay Area.
The Hang Seng Bank and Hong Kong Cyberport Management Company Limited have partnered to drive Hong Kong innovation companies in seizing increasing business opportunities in the Greater Bay Area (GBA).
“With the notable rebound in China’s economy and the recent upswing in business activity in the GBA, more opportunities are emerging for enterprises and start-ups in Hong Kong,” Head of Commercial Bank at Hang Seng Bank Donald Lam said.
Cyberport CEO Peter Yan, for his part, noted Hang Seng is the first to offer support in Cyberport startups’ expansion in the GBA market.
The alliance is expected to support Hong Kong entrepreneurs in the following key areas:
- GBA market opportunities
A designated team from Hang Seng Bank will help Cyberport community companies to adjust their business models in a way that will earn them more access to the GBA market.
- Cultivation of innovators
Hang Seng and Cyberport will be creating a talent development programme under the Cyberport Academy to promote entrepreneurship, technical skills development and innovative technology application amongst others.
- Smart banking development
Hang Seng and Cyberport will collaborate in promoting open banking and other Fintech initiatives in the city. Hang Seng will also consider participating in Cyberport’s open data platform and explore data sandbox collaboration.
- Access to corporate venture capital
Hang Seng will be joining the Cyberport Investors Network, through which the latter will be referring investment opportunities for Cyberport start-ups to Hang Seng.
- Banking services with cross-boundary financial features
Hang Seng will be offering Innobooster@Cyberport financial solution for innovation companies catering to Hong Kong and the GBA market. This includes approval of loans worth up to $500,000, exclusive foreign exchange solutions and cross-boundary financial offerings.
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