As Singapore further cements its position as a worldwide hub for innovation, HSBC is strategically situating itself at the forefront of this transformation.
HSBC’s group chief executive, Georges Elhedery, has recently expressed that innovation, technology, and artificial intelligence will drive economic growth. He emphasized that banks must adopt a proactive approach in providing financial support to start-ups and scaling companies.
This standpoint coincides with the rising global recognition of Singapore’s start-up ecosystem and the rapid international expansion of venture-backed firms.
Elhedery regards start-ups as the pivotal driving force for future GDP growth. He points out that while advanced technology only accounts for four percent of the US GDP, it contributes to an impressive ninety-two percent of the country’s GDP expansion.
He stresses the importance for financial institutions to back these high-growth firms, despite the heightened credit risks. Elhedery firmly believes that leveraging and applying the bank’s expertise in this ecosystem is of utmost importance.
HSBC considers Singapore as a significant player in its Asia-Pacific aspirations. The bank is developing group-level competencies from Singapore, introducing services such as blockchain-based tokenised deposits that offer 24/7 real-time settlements.
“Singapore plays an essential role in HSBC’s international strategy,” states Elhedery. He underscores the bank’s ambition to emerge as the leading global institution in corporate banking, institutional banking, wealth management, and innovation banking.
As an increasing number of Singaporean start-ups scale globally, HSBC observes a surge in demand for financing through its international network. The bank’s newly established innovation banking division in Singapore aims to bridge a long-standing market gap by offering sector expertise, specialised products, and customised financing solutions to venture-backed firms.
HSBC has committed US$1.5 billion in funding to high-growth firms in Singapore. The bank’s lending decisions are steered by its close interactions with founders and their investors.
Apart from corporate banking, HSBC is also focusing on the wealth of founders. Nearly two-thirds of its worldwide private banking clients in Singapore are entrepreneurs. The bank provides guidance on pre-exit planning, IPO preparation, succession strategies, and curated networking through initiatives like the Innovation Exchange.
A global HSBC report in 2025 identified Singapore as the most appealing hub for entrepreneurial wealth worldwide. Fifteen percent of entrepreneurs plan to relocate their assets to Singapore, with 12% considering moving their residence.
For HSBC, innovation banking presents both a commercial prospect and a long-term strategic move. As Singapore strengthens its stature as a global innovation hub, the bank aims to be the go-to partner for high-growth companies, their investors, and founders.
Elhedery clearly articulates this goal, “Our involvement in the innovation ecosystem is crucial for nurturing the businesses of the future.”
What is the role of banks in financing start-ups and scaling companies?
Banks, according to HSBC Group CEO Georges Elhedery, must actively finance start-ups and growing companies, despite the elevated credit risk.
How does HSBC view Singapore’s role in scaling its global operations?
HSBC sees Singapore as a significant player in its Asia-Pacific aspirations, developing group-level competencies and introducing services from the city-state.
What is HSBC’s approach towards the wealth of founders?
HSBC is focusing on the wealth of founders by offering advice on pre-exit planning, IPO preparation, succession strategies, and curated networking through initiatives like the Innovation Exchange.
