Emerging markets specialist bank Standard Chartered just launched a fintech accelerator programme to help companies crack the Asian market.
The bank’s Hong Kong branch is sponsoring the SuperCharger programme in partnership with Baidu, the Chinese tech giant often called the country’s answer to Google.
The SuperCharger programme aims to help “local and international early-stage and more established FinTech companies grow in Asia’s vibrant markets” — so pretty much any fintech company then.
As fintech hubs like London and New York grow, more and more companies are looking to Asia as a potential growth market. Countries like China already have a booming “internet finance” industries, with strong consumer uptake.
The UK government has been pushing the idea of exporting fintech to Asia, leading a trade delegation back in July. Christoph Rieche, CEO of online small business lender iwoca, told Business Insider at the time: “China is a very exciting market. Peer-to-peer in particular is huge.”
In casting the net for the SuperCharger programme so wide, Standard Chartered is clearly trying to stake a claim to be the go-to bank for fintech companies looking to break into Asia.
Experts from Standard Chartered and Baidu will work with businesses on the programme to help them refine business plans and strategies for entering the markets. The programme begins in January and entries close in November.