Comparative Guides

Welcome to Mondaq Comparative Guides - your comparative global Q&A guide.

Our Comparative Guides provide an overview of some of the key points of law and practice and allow you to compare regulatory environments and laws across multiple jurisdictions.

Start by selecting your Topic of interest below. Then choose your Regions and finally refine the exact Subjects you are seeking clarity on to view detailed analysis provided by our carefully selected internationally recognised experts.

4. Results: Answers
How is innovation in the fintech space protected in your jurisdiction?
Hong Kong

Answer ... Copyright is protected under the Copyright Ordinance (Cap 39), and computer programs and preparatory designs for computer programs may be protected by copyright.

For more information about this answer please contact: Dominic Wai from ONC Lawyers
How is innovation in the fintech space incentivised in your jurisdiction?
Hong Kong

Answer ... Hong Kong ranks among the top 10 fintech hubs globally. In 2018, the jurisdiction placed fifth for digitalisation of its traditional financial sector and in 2019 Cornell University ranked it as Asia’s fourth most innovative economy.

Over the years, the government and industry have offered various training programmes to enhance the digital literacy of practitioners in the financial services industry (eg, the Financial Incentive Scheme for Professional Training).

In this regard, Hong Kong has deployed a number of initiatives to assist with innovation, in the form of incubators and innovation labs and accelerators.

Incubators: There are two main incubators in Hong Kong – Cyberport and Hong Kong Science and Technology Park. To attract talent to Hong Kong, these incubators offer rent-free and/or concessionary rent working space, with successful Cyberport applicants being offered up to HK$500,000 to kick-start their start-ups.

Innovation labs and accelerators: A number of world-class innovation labs have been set up in Hong Kong over the years. Examples includes Accenture’s FinTech Innovation Lab and Deloitte’s Asia-Pacific Blockchain Lab.

Accelerators work together with innovation labs in order to promote collaboration and understanding among regulators, customers, business partners and technology companies. Examples of accelerators include DBS Accelerator, which is operated by DBS, and venture capital firm Nest.

Government initiatives: Government awards are sometimes handed out to promising programmes. Hong Kong has also signed a number of international collaboration agreements with various governments around the globe with the aim of developing the fintech market.

For more information about this answer please contact: Dominic Wai from ONC Lawyers