These are interesting times for Hong Kong’s nascent startup scene, as the city grapples with China’s slowing economy and struggles to define itself in an increasingly globalized world. As a small market home to 7 million people, Hong Kong will have to specialize and claim something as its own, in the same way that markets like Israel and Singapore have with tech R&D and fintech, respectively.

“If you just look at fintech, it’s having a vibrant ecosystem in Hong Kong,” said Gregory So Kam-Leung, the Secretary for Commerce and Economic Development, at fintech accelerator SuperCharger‘s demo day on Thursday. “We see…DBS, Accenture, and Nest, and of course TusPark, all coming to Hong Kong, really pointing the direction that we have something going really good right now.”

Along with IoT, government officials, as well as other players in Hong Kong’s startup scene, see fintech as a potential pillar for the city’s startup ecosystem. Hong Kong is one of the top financial centers of the world, and ex-bankers, such as David Rosa, one of the entrepreneurs in SuperCharger’s batch, have jumped into the fintech space, eager to apply their banking knowledge in a less rigid environment.

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Eva Xiao

Eva Xiao is a tech reporter based in Shanghai. Contact her at eva.xiao@technode.com or evawxiao (wechat & twitter).