Date
12 December 2017

Startup

  • Ofo bikes are shown in Sydney, Australia. Founded in 2014, China's leading bike-sharing company has more than 200 million users globally. Photo: Xinhua

    Ofo rolls out bike-sharing service in Hong Kong

    Dec 6, 2017 5:59pm
    Chinese bike-sharing giant Ofo said it has begun operations in Hong Kong, with Tuen Mun in the New Territories as its first location. Unlocking Ofo bikes requires the company’s mobile app. Customers can enjoy a ride...
  • Norman Cheung (left) and Carl Wu (right), co-founders of Boxful, are planning to expand the business outside Hong Kong. Photo: HKEJ

    Boxful bags US$18 mln for expansion to mainland

    - Dec 6, 2017 3:25pm
    Boxful, a Hong Kong-based startup that enables customers to store items in warehouses, has landed US$18 million in funding to expand its business outside the city. The latest funding round brings the total to US$26.1 million....
  • Hong Kong manufacturers want to step up their R&D spending, but are concerned about the availability of suitable manpower, according to a FHKI survey. Photo: HKEJ

    Four in five HK manufacturers plan to boost R&D spending: survey

    Dec 6, 2017 11:10am
    A survey has shown that around 80 percent of Hong Kong manufacturing enterprises plan to increase their research and development (R&D) expenditure over the next three years, with the average targeted hike in such spending at...
  • Xioami, led by its founder and CEO Lei Jun (seen in picture), is reported to be in talks with investment bankers about a potential IPO next year. Photo: Reuters

    Xiaomi said to eye 2018 IPO at US$50 bln minimum valuation

    Dec 5, 2017 10:38am
    Chinese smartphone maker Xiaomi Corp is eyeing an initial public offering next year, possibly in Hong Kong, Bloomberg reports, citing people familiar with the matter. The Beijing-based company is seeking a valuation of at least US$50 billion...
  • iFlyTek uses sophisticated AI to power image and voice recognition systems that can help doctors with their diagnoses, aid teachers in grading tests and let drivers control their cars with their voices. Photo: iFlyTek

    iFlyTek helping advance China AI push, state security: report

    Dec 4, 2017 4:18pm
    iFlyTek, a Hefei-based startup, is helping advance China’s efforts in the artificial intelligence industry and also functioning as an ally to Beijing in state security, according to the New York Times. Shenzhen-listed iFlyTek uses sophisticated AI to power...
  • Dr Vivien Lu Lin (inset), an associate professor at the Hong Kong Polytechnic University, led a research effort to develop a cost-effective, self-cleaning nano-coating for glass curtain walls. Photos: PolyU, HKEJ

    Universities as innovation drivers: The challenges are many

    - Dec 4, 2017 1:31pm
    Window washing is considered a strenuous task that comes with the danger of falling. One way to minimize the risk is to use self-cleaning glass that doesn’t require frequent scrubbing. However, there is a problem as self-cleaning...
  • China's leading bike-sharing platforms Ofo (left) and Mobike have denied rumors that they are planning a merger. Photos: Ofo/Mobike

    China’s bike-sharing giants Mobike and Ofo rule out merger

    Dec 1, 2017 6:33pm
    Despite rumors about a possible merger between bicycle-sharing platforms Mobike and Ofo, Mobike co-founder and chief executive Davis Wang Xiao-feng declared that “a merger is not an option for the company”, China Daily reports. The same sentiment...
  • Paytm’s Vijay Shekhar Sharma aims to build the group into an integrated online financial services firm that offers everything from wealth management to bank cards and share trading. Photo: Bloomberg

    India’s Paytm aims to create world’s largest digital bank

    Nov 30, 2017 10:01am
    Paytm, an Indian electronic payment services and e-commerce platform that is backed by China’s Alibaba Group, aims to create the world’s largest digital bank with 500 million accounts. On Tuesday, the group formally launched Paytm Payments Bank,...
  • A WeWork shared office in Hong Kong. The co-working space provider said it is acquiring Meetup to further their shared mission of bringing people together in the real world. Photo: Bloomberg

    Office-sharing startup WeWork acquires Meetup

    Nov 29, 2017 5:15pm
    Co-working space provider WeWork is buying Meetup, an online social networking site for people to organize or join group meetings in the real world, adding another asset to the rapidly expanding rental startup’s roster. The two...
  • 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...
  • Locking in investment from SoftBank, which is led by Masayoshi Son (L), has been a top priority for Uber's new CEO Dara Khosrowshahi. Photos: Bloomberg

    SoftBank said to seek Uber shares at 30% discount

    Nov 29, 2017 10:24am
    A SoftBank-led consortium is said to be seeking to buy Uber Technologies shares at a price that values the ride-hailing services firm at US$48 billion, a 30 percent discount to the company’s most recent valuation of...
  • The Global Innovation Alliance (Beijing) led by International Enterprise Singapore will set up a shared office in Beijing, the first step in GIA's foray into the Chinese market. Photo: Bloomberg

    Singapore to establish innovation alliance in Beijing

    Nov 28, 2017 5:47pm
    Singapore’s Global Innovation Alliance (GIA) will launch an initiative in China, linking the technological landscapes of both countries.  In its 2016 report, the Committee on the Future Economy of Singapore recommended setting up the GIA which...
  • The mobile augmented-reality game Pokémon GO has become an overnight hit since last summer. Photo: Reuters

    Pokémon GO maker gets US$200m ahead of Harry Potter game launch

    Nov 28, 2017 10:02am
    Niantic Inc., the maker of the hit augmented-reality (AR) game Pokémon GO, has raised about US$200 million in new financing. The company’s Series B round comes just weeks after it announced plans to release a new...
  • Lin Chung-chieh, commissioner of the Department of Economic Development of the Taipei city government, said Taipei is an open and free society that is capable of attracting talent from all over the world. Photo: Taipei City Government

    How Taipei attracts talent for startup development

    Nov 27, 2017 6:27pm
    The Hong Kong government is determined to develop innovation and technology in the city, but its efforts are hampered by such issues as small market size and brain drain. Could we draw lessons from how Taiwan tackles...
  • TG3D Studio produces a 3D human body scan. TG3D Scanatic is capable of generating a complete 360-degree scan of a human body in three seconds. Photo: TG3D Studio/HKEJ

    How a Taiwan startup uses Hong Kong as a springboard

    - Nov 27, 2017 2:32pm
    More than 400 startups from 14 countries gathered in Taipei for three days of innovation, networking and fun. The event was held on Nov. 16 to 18 at the Taipei Expo Dome. Among them was the...
  • Carrie Lam (3rd from left) and Alibaba Group’s Jack Ma (3rd from right) on stage with En-Trak CFO Lindy Lau (1st from left), Farm66 founder Gordon Tam (2nd left), CuttingEdge MedTech founder Wang Defeng (2nd from right) and En-Trak founder Vincent Chow.

    Jumpstarter 2017 concludes with three grand finalists

    Nov 24, 2017 5:06pm
    Jumpstarter 2017, a program that aims to identify promising entrepreneurs and provide them with funding, concluded with a grand finale on Tuesday that saw three contestants make the final cut.  The three grand finalists will each receive...
  • SenseTime Co-Founder Xu Chiheng demonstrates his company's surveillance software on a laptop. Photo: Reuters

    Chinese AI start-up SenseTime in no rush for IPO

    Nov 24, 2017 3:44pm
    Chinese artificial intelligence (AI) startup SenseTime Group, valued at more than US$2 billion, is planning an IPO but is in no particular rush, its founder told Reuters. The Hong Kong and Beijing-based firm is a leader among...
  • WeLab, led by its founder and CEO Simon Loong, is reported to be working toward a possible listing next year. Photo: HKEJ

    Fintech firm WeLab said to eye US$500 mln Hong Kong IPO

    Nov 24, 2017 2:50pm
    WeLab Ltd., a Hong Kong-based financial technology firm backed by billionaire Li Ka-shing and the Credit Suisse Group, aims to launch an initial public offering next year, Bloomberg reports. The online lender has picked banks to...
  • Douyu TV, China’s version of Amazon.com's live streaming video platform Twitch, said it is now recording profits. Photo: Douyu TV

    Game streaming firm Douyu TV raises 1 bln yuan, reports profit

    Nov 23, 2017 3:38pm
    Douyu TV, China’s version of Amazon.com’s live streaming video platform Twitch, says it has finalized its latest funding round without disclosing the amount raised. The Series D funding size is more than 1 billion yuan (US$150 million), raising the...
  • The Oya Labs team showcases their Wordle prototype during the Baumhaus Baby Bazaar event in Tsim Sha Tsui, Hong Kong on Nov. 17. Photo: Oya Labs

    A startup develops tool to aid language devt in toddlers

    - Nov 23, 2017 9:33am
    The early years of learning are deemed critical for language and cognitive development among kids. Bearing this in mind, Hong Kong-based startup Oya Labs, formerly known as Vox Technology, has developed a device that helps monitor a...

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