SuperCharger HK 2018 Raises US$14.4m And Seals 47 Commercial Deals

Hong Kong, 8 June 2018 – SuperCharger FinTech Accelerator and Standard Chartered demonstrated the success of its programme for a third year running. Through the 12-week programme, the cohort companies have achieved 47 commercial deals, US$ 14.4 million funds raised, received 17 awards and formed a network of 372 mentors, partners, regulators and business stakeholders.
Standard Chartered has newly launched a proof-of-concept with vPhrase, one of the finalists of the current cohort, whose artificial intelligence technology can help the Compliance function automate the generation of insights and commentary, and make the report writing process more efficient. The analysis and commentary will include trends on regions, business, and functions to help inform the senior management and assist them in making better business decisions using data.

This year’s programme has taken one step further to guide Supercharger’s search for the best Fintechs, with Standard Chartered first defining a set of real problems to solve. This rigorous process has helped increase the value of this collaboration to both the Fintechs, as well as the Bank.

Since 2015, SuperCharger has led the growth of the local and regional FinTech ecosystem. Janos Barberis, Founder of SuperCharger said: “Reflecting on what was achieved in the last three years is humbling. We can now confidently say that being a SuperCharger alumni is a sign of quality for clients and investors, as confirmed by the number of deals closed and the amount raised to date. In addition, we were able to give back to our community with the launch of Asia’s first Fintech Massive Open Online Course (MOOC) with the University of Hong Kong, which enrolled over 20,000 students to date, including the employees of Standard Chartered.”

Carol Hung, Chief Information Officer of Standard Chartered Hong Kong, said: “We are looking for greater collaboration with Fintechs to help us solve real business problems and improve the client experience. Supercharger is one of our key initiatives to source the most innovative solutions across the Fintech ecosystem and to nurture the next generation of FinTech entrepreneurs that could potentially shape banking trends.”

In April, Standard Chartered officially opened its Hong Kong innovation lab, the eXellerator. This will further accelerate co-creation opportunities for businesses, clients, technology companies and industry partners in Hong Kong and the region, to come together and explore new ways to solve business problems and create new value propositions.

The Bank also launched SC Ventures this year. This is a new business unit set up with the vision to “rewire the DNA in banking”. It aims to build on the eXellerator success, and create a platform to identify and develop multiple innovative ideas across the Bank, supported by a bank-wide intrapreneurship programme to embed innovation into the way the Bank works. SC ventures will also make strategic investments in promising Fintech start-ups which we are working with, and set up new ventures to explore new business models.

 

SHARE THIS STORY

Share on facebook
Share on twitter
Share on linkedin
Share on email

RELATED POSTS

How to Invest in the Cannabis Industry

How to Invest in the Cannabis Industry

Despite cannabis (also known as weed or marijuana) being illegal in a large part of the world, the global cannabis market was worth US$28.26 billion in 2021 and is expected to grow to US$197.74 billion by 2028. Gone are the days when venture capital firms would dismiss cannabis companies as problematic investments.

Why Crypto Markets Crash and 5 Ways Investors Can Deal

Why Crypto Markets Crash and 5 Ways Investors Can Deal

With more and more people holding cryptocurrencies today, the crypto crash of May 2022 has had severe financial consequences. Reliable currencies, including Bitcoin and Ether, met a terrible fate, as did stablecoins, amounting to losses of over US$300 billion.

How Lemi Is Helping Small Businesses Reach Their Customers

How Lemi Is Helping Small Businesses Reach Their Customers

Starting a business isn’t easy. From finding raw materials and making your products to actually reaching the right customer base, everything takes a lot of time and energy. Even though this process is so hard, a lot of people venture out and start their own businesses, so much so that small business enterprises (SMEs) make up 90% of the world’s businesses.

What Is CateCoin and Is It Legit

What Is CateCoin and Is It Legit?

At a time when meme coins, like Dogecoin and Shiba Inu, are enjoying immense popularity, another cryptocurrency has been laying the groundwork to compete with them: CateCoin.

Companies that Might Accept Crypto Payments in 2022

Companies that Might Accept Crypto Payments in 2022

The cryptocurrency industry is growing rapidly, and with that growth comes increased interest from companies looking to accept crypto payments. While there are already a few major companies that accept cryptocurrency payments, like Microsoft and PayPal, many more are considering following suit.