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“FinTech Anti-epidemic Scheme for Talent Development” Now Open for Application
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 Scheme has a quota of 1,000 new roles with a total subsidy of 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 2 July 2020 and 2 July 2022.
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.