Frequently Asked Questions for the Fintech Olympiad 2022
What is fintech?
Fintech refers to financial technology, which applies advanced technology to improve any industry, as our society and economy steadily transitions into a digital one. Fintech is a broad category that applies different technology, but it is primarily working as a new form in the financial aspects of business against the traditional form of business. Examples of different types of fintech solutions are mobile wallet, crowdfunding, e-KYC, and robo-advisors. The backbone of these solutions are typically AI (especially machine learning), blockchain, cryptography, and data science.
What is it like to compete in FTOL?
A fintech solution proposed by the student with a business form presentation. Participants need to submit a series of works, including poster for first round selection, pitch deck and pitch video for the final.
Students are also welcome to submit a prototype and a whitepaper if they wish to elaborate their solution. FTOL is designed to provide more room for students to think out of the box and make a reliable solution on fintech in real life. Those submitting materials could allow them to think deeply about the issue, better explain their solution, and improve their oral and written presentation skills in the workplace.
What is the mission of FTOL?
The competition of FTOL aims to provide a platform for tertiary students to complete and embody their ideas on fintech, providing training and education to the interested parties in order to attract more talents into fintech-enabled industries. The goal of FTOL is to support the sustainable development of fintech in Hong Kong, even the regions of GBA.
How does FTOL accomplish its mission?
Promoting awareness of financial technology:
Participants can understand the concepts and usage of fintech in real life, and learn how to create a solution in solving a real-life problem, even a social issue through fintech. The competition raises their sense of technology and inspires their mind to think out of the box.
Providing training and hands-on experience:
Participants can receive fintech knowledge via joining the training course and lectures taught by professionals, learning the concepts and application of fintech. They can design a full solution by themselves and taste hands-on experience in making a fintech project.
How does FTOL benefit students of Hong Kong SAR?
FTOL provides the following benefits to the students:
- A chance to taste the application of fintech
- An experience to work on a whole business project by yourself
- A valuable chance to meet with and receive comments from professionals and some mentors in business field
- An opportunity to exchange your brilliant ideas with fellows from different schools or from different regions
How does FTOL benefit students from the Mainland of China?
FTOL provides the following benefits to the students from the Mainland of China:
- A chance to explore the world outside the Mainland of China
- working with projects that have foreign/international considerations
- A higher chance to study or work abroad successfully if they go through this program
- A realistic chance to experience what Greater Bay Area would be like
- Practicing languages such as English and Cantonese
- Exchange ideas with people living in different special administrative region, getting to know their culture and appreciating their projects/way of thinking/application of fintech
FAQ about the programme
What is Micro-Consulting Day?
The Micro-Consulting Day is a business Pitch Simulation Workshop held by HSBC for participants to enhance their skills in business presentations. The event will be held online and obtain VIP comments on the teams’ pitching to enhance students’ ideas and presentation techniques for their final competition.
- HSBC shares the pitching skills
- Valuable comments from Professional
- Pitching in breakout room with HSBC mentors (by appointment)
- Participants share intelligent ideas with each other
How to join:
- Registry via an online link within the period from 13th March to 20th March
- Pick your preferred time slot
- Submit a whitepaper with about 200 words to describe your project (issue and solution)
- Better to prepare a 5 minutes pitch presentation before joining the private simulation
- The simulation quota is limited, first come first served
FAQ about the competition
Am I eligible?
If you are either a current or recent student (within 3 years) and you have studied or are studying at a college or university in China but your team has at least one student who has studied or is studying in a college or university in the Greater Bay Area, according to the rules, you may compete!
What constitutes the Greater Bay Area?
The Guangdong-Hong Kong-Macao Greater Bay Area (Greater Bay Area or GBA) comprises the two Special Administrative Regions of Hong Kong and Macao, and the nine municipalities of Guangzhou, Shenzhen, Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen and Zhaoqing in Guangdong Province.
I don't have a team. Can I still join?
Yes, as according to the rules, projects may be submitted by teams of one to six students, i.e. you can compete as a single individual.
May I be part of more than one team?
Yes, as according to the rules, you may be on another team, as long as that team has different teammates, and you may not be the team lead of more than one team.
May I submit more than one project?
Yes, as according to the rules, you may be on another team, but one team cannot submit more than one project.
About FTOL 2022
This is the first year to conduct FTOL in Hong Kong and the Great Bay Areas (GBA), which provides an opportunity to post-secondary students to make a proposal on solving real-life problems via the usage of fintech.
This is a cross-region competition that allows students from Hong Kong, Macao, Shenzhen, and other regions in GBA to take part, which encourages the exchanging of ideas and use of technology between these places, and strengthens the relationship between the regions.
FAQ about the finals
When and where is FTOL 2022 going to be held?
FTOL 2022 is a virtual competition starting from the training in October to the face-to-face final competition on 28th May. There will be an initial submission on or before 30th January and a finalist submission on or before 6th March. And the Fintech Olympiad Final will be held on 26th March at the City University of Hong Kong.
What are the prizes for FTOL 2022?
There are three medal prizes to be given to the best demonstrated teams.
- Gold Medal: Award to the projects with highest score from pitch presentation
- Silver Medal: Award to the projects with second highest score from pitch presentation
- Bronze Medal: Award to the projects with third highest score from pitch presentation
- Best Prototype:Award to projects with highest score form prototype design
- Best Cross-Border Fintech Solution:Award to projects that benefit both Hong Kong and Greater Bay Area