Date
23 January 2018

HKEJ

Hong Kong Economic Journal
  • Phone repair platform Weadoc promises to send a technician to the client's home in one hour and finish the repair within 30 minutes. Photo: Weadoc

    Weadoc, an O2O smartphone repair platform, raises 100 mln yuan

    - Nov 29, 2017 3:29pm
    Weadoc, a platform that provides online-to-offline (O2O) mobile phone repair services, has raised 100 million yuan (US$15.15 million) in a Series B round led by MatrixPartners China and Cowin Capital. The company connects users with technicians who...
  • China’s two largest mobile payment platforms, AliPay and WeChat Pay, have arrived in Hong Kong but is the domestic market ready for them? Photo: Reuters

    Hong Kong will embrace China’s mobile payment – eventually

    - Nov 24, 2017 2:52pm
    Following their success in the mainland, China’s two largest mobile payment platforms, AliPay and WeChat Pay, are ratcheting up their expansion plans to Hong Kong. AliPay has been introduced in some wet markets in the city,...
  • Jordan Cheng Man-fai, founder of the AR headset startup Mad Gaze, believes the future of smart glasses is bright and largely overlooked. Photo: HKEJ

    Mad Gaze: Hong Kong’s answer to Google Glass

    - Nov 16, 2017 1:43pm
    Mad Gaze, a Hong Kong-based startup which produces smart augmented reality (AR) headsets à la Google Glass, is betting on its innovative products to take on tech giants in the international market. Despite Google’s decision to...
  • A group linked to a Bill Gates investment company has invested US$80 million in a high-tech planned development outside Phoenix. Photo: Reuters

    Bill Gates investment group puts US$80m into smart city project

    - Nov 15, 2017 11:36am
    Bill Gates wants to build a futuristic community in Arizona. A group associated with a Gates investment company has invested US$80 million in a high-tech planned development outside Phoenix, according to local news publication AZ Central....
  • A Vietnamese firm says it was able to fool the iPhone X’s facial recognition feature with a 3D-printed mask. Photo: Bkav

    Vietnamese firm claims to have fooled Apple Face ID with a mask

    - Nov 14, 2017 11:52am
    A Vietnamese cyber-security firm, Bkav, has claimed that it was able to defeat the iPhone X’s facial recognition system with the help of a 3D-printed mask. Researchers from the firm released a blog post and video...
  • CamClaim founder and CEO Joey Lam Tsz-yin (left) said the One2Paid payment service is targeting a different customer group from Alipay and WeChat Pay. Photo: HKEJ

    Startup launches UnionPay card payment service for HK taxis

    - Nov 13, 2017 2:37pm
    Hong Kong commuters can now use their UnionPay cards to pay for taxi fares. One2Paid, a cashless payment solution startup under local fintech company CamClaim, has partnered with UnionPay International, China Mobile Hong Kong, K&R International...
  • HKSTP wins China recognition as ‘State-level’ incubator

    - Nov 8, 2017 1:45pm
    China’s Ministry of Science and Technology has named Hong Kong Science and Technology Parks Corporation (HKSTP) as a “State-level Scientific and Technological Enterprise Incubator”, marking the mainland’s first such honor to a Hong Kong entity. The...
  • Herman Lam (left), chief executive of Cyberport and Witman Hung (right), principal liaison officer for the Hong Kong-Shenzhen Qianhai Authority, shared their thoughts on the opportunities arising from China’s Greater Bay Area development. Photo: HKEJ

    Greater Bay Area to become a mecca for Hong Kong innovators

    - Nov 7, 2017 4:13pm
    In Chief Executive Carrie Lam Yuet-ngor’s policy address last month, she expressed her ambition to turn Hong Kong into an international hub for innovation by grasping the opportunities arising from mainland China’s Greater Bay Area development....
  • Flipkart has raised US$4 billion this year, bringing its valuation to US$11.6 billion. Photo: Reuters

    Appetite for Indian tech startups shows sharp rebound

    - Nov 2, 2017 3:27pm
    Indian tech startups are becoming the new favorite of investors from China and Japan. They are expected to raise more than US$10 billion this year, more than double last year’s US$4.4 billion. Indian tech startups have...
  • Chinese house-sharing platform Xiaozhu.com has raised US$120 million in a funding round led by Jack Ma’s Yunfeng Capital. Photo: Reuters

    China Airbnb rival Xiaozhu gets Jack Ma backing

    - Nov 2, 2017 1:16pm
    Chinese house-sharing platform Xiaozhu.com has raised US$120 million from investors led by Jack Ma’s Yunfeng Capital, Reuters reports. The latest fundraising has catapulted Xiaozhu to the status of a “unicorn startup”, the company said in a...
  • Eric Gnock Fah says the new funding will accelerate the firm’s plan to expand outside of Asia and carry out product innovation. Photo: HKEJ

    Klook raises US$60 mln with backing from Goldman Sachs

    - Oct 26, 2017 1:13pm
    Klook, a Hong Kong-based travel startup which runs an online and mobile concierge application for the best deals on travel attractions, tours and activities in Asia, said it has completed a US$60 million funding round that...
  • Facebook is conducting trials in six countries under which the social media giant is dropping non-promoted content out its main news feed. Photo: Reuters

    Facebook tests moving non-promoted posts out of news feed

    - Oct 25, 2017 1:50pm
    Facebook is testing a new update that would shift non-promoted posts out of its news feed, an initiative that spells bad news for publishers who rely on the social network for their audience. Under the trial, which...
  • Shang Hai-long (right), SenseTime managing director, and Keith Kressin (left), senior vice president, product management, Qualcomm Technologies, signed the strategic collaboration agreement. Photo: HKEJ

    HK-based SenseTime to challenge US tech giants

    - Oct 24, 2017 1:43pm
    Hong Kong-based technology firm SenseTime Group has announced a tie-up with Qualcomm Technologies Inc., a unit of Qualcomm Inc., to collaborate on artificial intelligence (AI) and machine learning for future mobile and internet of things (IoT)...
  • SenseTime and Qualcomm plan to work together on AI and machine learning for mobile and IoT products. Photo: HKEJ

    SenseTime teams up with Qualcomm for on-device AI push

    - Oct 20, 2017 2:46pm
    Hong Kong-based technology firm SenseTime Group has announced a tie-up with a Qualcomm subsidiary to drive the development and use of mobile phone chips with built-in artificial intelligence (AI) features. Under the deal, SenseTime will collaborate...
  • Sidewalk Labs won the contract to develop a 12-acre (522,720 square feet) site in Toronto into a digital city. Photo: Waterfront Toronto

    Alphabet’s Sidewalk Labs to turn Toronto area into a smart city

    - Oct 19, 2017 12:32pm
    Sidewalk Labs, owned by Google’s parent Alphabet, is to build a digital city in Toronto. Alphabet won the contract to develop a 12-acre (522,720 square feet) site named Quayside on the waterfront of Lake Ontario. The...
  • Some free WiFi available in cities don’t have any cryptographic measures, which make them particularly vulnerable to cyber-attack. Photo: AFS

    WiFi networks seen vulnerable to hacking due to WAP2 flaw

    - Oct 19, 2017 10:37am
    WiFi Protected Access 2 (WAP2), the current industry standard that encrypts traffic on Wi-Fi networks, is vulnerable to hackers due to a flaw in the cryptographic protocols, according to new research from security expert Mathy Vanhoef of KU...
  • Ridesharing services have posed a challenge for city planners as there is little data on how the services affect transportation decisions and travel patterns. Photo: builtinchicago.org

    Ridesharing leads to less use of public transit, study shows

    - Oct 18, 2017 10:40am
    It’s widely believed that the use of ridesharing services like Uber and Lyft would prompt people to drive less. However, a recent study suggests that such services may actually lead to more miles on the road...
  • As ICO provides a chance to exit a startup investment quickly, it has become increasingly popular with investors. Photo: Reuters

    ICOs giving venture capital firms a run for their money

    - Oct 17, 2017 10:00am
    Numerous startups worldwide have rushed to the initial coin offering (ICO) market to raise funds, and this trend may disrupt the long-time reliance on traditional venture capital, according to Heatherm Huang, founder of MailTime. ICO is...
  • Graph: The Global Entrepreneurship Monitor 2016/17:Hong Kong&Shenzhen report.

    Startups: How HK and Shenzhen can complement each other

    - Oct 13, 2017 9:59am
    China has been at the forefront of the internet economy in recent years. Many tend to compare Hong Kong with its neighbor Shenzhen. Some believe the two cities are competing with each other, while others said...
  • IKEA has been successful in using labyrinthine store layouts to generate impulse purchases, but it is now adopting new technology to overhaul its business operations. Photo: Reuters

    IKEA turns to e-commerce giants to sell furniture

    - Oct 12, 2017 3:59pm
    Amid the boom in e-commerce, brick-and-mortar retailers can’t afford to stick to their old ways of doing business. IKEA has become the latest major retailer to radically overhaul its sales strategy in the face of online...

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