While venture capital funds in the United States raised a strong $21 billion during the first quarter of this year, compared to a total of $51 billion raised for the full year of 2019, a recent National Venture Capital Association report expected a “capital crunch" in the coming months as most VC firms would flee to safer, more liquid assets, like public securities in view of the covid-19 pandemic. In other words, startups will find it more and more difficult in fund raising. Therefore, how to conduct a successful pitch becomes even more critical than before. That’s the reason why the success experience of a recent pitch of an entrepreneur is worth sharing.繼續閱讀
Over the years, Science Park and Cyberport have nurtured many unicorns (i.e. privately held startups valued at no less than US$1 billion, and established for less than 10 years), such as SenseTime, WeLab, TNG, GoGoVan and Klook. Some have raised the point that if the three major R&D organisations – Science and Technology Park Corporation (including Science Park and several industrial villages), Cyberport and Hong Kong Applied Science and Technology Research Institute (ASTRI) – were consolidated as one organisation, it would boost Hong Kong’s scientific research power on advanced technologies, e.g. artificial intelligence, internet of things, and big data. They can also complement each other, as Science Park is good at biomedical technology while Cyberport is strong in financial technology (FinTech).繼續閱讀
Recently, Chinese Prime Minister Li Keqiang pointed out that the mainland should accelerate the development of high-tech-focused “new infrastructure initiative", such as 5G networks, big data and artificial intelligence, as well as upgrade and “smarten" existing infrastructure. The Nikkei Asian Review quoted a report released in March by the government-backed think tank China Center for Information Industry Development (CCID), estimating that the mainland will invest at least RMB17 trillion (about HK$18.5 trillion) in more than 800 projects in the next five years, including 73 projects in Guangdong Province, such as autonomous driving and smart ports. The article also listed the key companies involved in these projects, Hong Kong is basically missing the opportunity brought by these huge infrastructure project, except for the artificial intelligence (AI) startup SenseTime. How can we not be disappointed!繼續閱讀
According to the World Meteorological Organization, 2019 was the second warmest year on record, with the five years from 2015 to 2019 being the five warmest since recording. The Hong Kong Observatory (HKO) also confirmed that May of 2020 was much hotter than usual. The monthly mean temperature of 27.7 degrees in May was 1.8 degrees above the normal figures. Moreover, the annual mean temperature this year is expected to be above normal, very likely to be among the top 10 warmest on record.繼續閱讀
The Hong Kong government has invested more than HK$100 billion to support innovative technology development and boost the start-up ecosystem in the last five years. However, the Covid-19 epidemic has disrupted the capital chain. A local survey found that nearly 40 per cent of the start-ups interviewed had laid off employees.