New | Nest takes lead in transcontinental support for tech start-ups

A unique alliance between business incubator Nest and Level39, part of the British property developer Canary Wharf Group, aims to speed up the ability of technology start-ups in the financial hubs of Hong Kong and London to go global.

“We are the first to get financial technology start-ups in Asia get access to resources in London and those in Europe get access to resources here in Hong Kong,” Simon Squibb, the founder and chief executive at Nest, told the South China Morning Post.

Privately held Nest is recognised as the city’s pre-eminent start-up incubator, with investments in about 46 companies to date. Level39 is Europe’s largest operator of co-workspace, with a total of 2,694 square metres of facilities geared for start-ups and entrepreneurs.

“Both London and Hong Kong are prominent global financial centres. So what we’re trying to achieve is to create a powerhouse of know-how in terms of financial technology innovation in the two cities,” Squibb said.

Facing more pressure to boost growth and slash costs, large banks are now seeking to engage with promising ventures that offer technologies specifically designed for their industry. 

Highly sought-after solutions include analytics, mobile, risk management, payment, security, compliance, social media and collaboration technologies.