What is the FinTech Anti-epidemic Scheme for Talent Development (FAST)?

FAST is one of the job creation schemes established under the Hong Kong Special Administrative Region (HKSAR) Government’s Anti-epidemic Fund to support local industries affected by the COVID-19 pandemic.

FAST is administered by Hong Kong Cyberport Management Company Limited (HKCMCL), which is wholly owned by the HKSAR Government. The programme provides financial assistance to local companies engaged in the FinTech sector to create new jobs. The total subsidy of the Scheme is up to HK$120 million.

FAST aims to create new job opportunities in the FinTech sector and enrich Hong Kong’s FinTech talent pool in order to enhance the city’s competitive edge and reinforce its position as a leading international financial centre.

How does FAST support FinTech companies?

Each successful FinTech applicant company will be provided a subsidy of HK$10,000 per month to create a job position related to the major business of the company. The subsidised period could be up to 12 months between 18 July 2022 and 18 July 2023.

Successful applicant companies will be disbursed a payment equivalent to the subsidy for the first three months upon the approval of the application and the submission of the employment contract. Subsequent subsidy payments will be made in advance every three months thereafter.

Eligibility

The applicant company should meet the following requirements: a valid business registration certificate; an established physical office in Hong Kong; have commenced its current business not later than 1 January 2022; and a substantive business operation in the FinTech industry at the time of application. (Applicant who already received subsidy from the FAST or the Applicant who did not comply with or carry out the responsibilities stated in the Guide or all relevant laws are not eligible)

Procedure

The applicant company should complete and submit the application form together with the relevant supporting documents through the FAST online portal. HKCMCL will conduct eligibility checks for all applications and grant approval as appropriate.

Application Period

From 12:00 noon on 18 July 2022 to 11:59 a.m. on 18 October 2022.

Cyberport FAST Details: https://fast.cyberport.hk/en/