Asia's tech news, weekly: June 6th 2023
Korea & semicon chiplets, Philippines & digital ID, China's quantum bid, Indian satellite imaging, Portugal blocks Huawei, battery-tech in Australia, crypto in Indonesia...
• Taiwan's TSMC is in talks for German subsidies, potentially covering 1/2 of $10.7BN construction cost, with top subsidies being discussed placing Germany on par with Japan's TSMC bid
• China Telecom invests $434M in establishing China Telecom Quantum Information Technology Group, with announcement praising Xi Jinping
• Australia: Li-S Energy unveils 20-layer lithium-sulfur batteries, potentially offering cheaper, lighter-weight storage, and cost and safety benefits over standard lithium units
• AUKUS partners - Australia, US and UK - ran AUKUS Advanced Capabilities Pillar program test focused on AI-controlled drone 'swarming' to trial leading-edge technologies
"Voice cloning technologies...lower the barrier to entry for inexperienced English-speaking cybercriminals...in low-risk impersonation schemes and provide opportunities for...high-impact fraud."
• South Korea's LG Electronics partners Canada's Tenstorrent for 'chiplets', semiconductor modules in this case optimized to run AI models
• Indonesia: Bali warns tourists against payments using cryptocurrencies in hotels, restaurants and other destinations, reminding visitors that crypto is not legal tender
• China's Xtalpi, AI-driven drug discovery firm, partnered by US pharma giant Eli Lilly, in deal up to $250M to unearth potential medicines for as-yet undisclosed disease
• Taiwan: A look at developments in the nation's preparations for communications disruptions, whether caused by natural disaster or deliberate acts
• Philippines: Gov't seeks to expedite issuance of digital ePhilID cards, aiming for single digital ID system for transactions and access to social services, and with central bank mandating use in KYC
• China: China Computing Net, national data centre network aiming to pool and centralize the nation's computing power, adds centres in southern Guangdong, Sichuan and Guizhou
• India: Google leads $36M funding round for Pixxel satellite-imaging startup, with a constellation of 3 currently and plans to add 6 satellites next year
• South Korea's WEMIX inks MOU with Abu Dhabi's Hub71 to develop growth opportunities for respective portfolio companies and Web3 startups
Apple Savings and Goldman Sachs: "'Security reviews' are locking up Apple Savings accounts for weeks on end, as a blunt-force anti-money laundering system turns customers into suspects."
• China: Baidu search and autonomous driving giant unveils $145M fund to back generative AI companies, tho questions remain around robustness of home-grown large language models
• Thailand: China's Alipay+ cross-border payments giant announces integration of 4 mobile wallets in Thailand, from Hong Kong, South Korea, Malaysia and mainland China
• A brief look at a handful of firms using artificial intelligence in the agri-tech and food-tech sectors
• Kazakhstan's startups to gain from experience exchange program entered into with France's Station F, the world's largest startup incubator
• Portugal blocks China's Huawei from 5G network, as well as supply from states that are not members of NATO, the EU or OECD, citing national security risks
• Sri Lanka: Gov't drafting new legislation to curb ‘religious slander and online vitriol’
• Vietnam: An overview of the micro-insurance industry in the country
• Indonesia: eFishery feed technology firm closes $108M funding round, with platform potentially raising farmer income by 45%
"...thousands of TikTok creators and businesses around the world have given the company sensitive financial information...TikTok has stored that personal financial information on servers in China..."
• Inaugural South Korea-Pacific Islands Summit sees growth in defence cooperation with Korea to join Indo-Pacific Endeavour drills, and underwater mines detect-and-disarm program
• Malaysia: Securities Commission launches SCxSC GROW to develop fintech ecosystem for alt-financing digital platforms to meet the needs of MSMEs in strategic sectors including food security
• China: MiniMax reportedly nears $250M funding and valuation near $1.2BN, with AI focus similar to OpenAI ChatGPT and believed to be part-backed by Tencent-related entity
• Indonesia: Ringkas raises $3.5M with streamlined fintech solutions focused on home ownership
• An overview of the challenges involved in New Zealand's aspirations for AUKUS Pillar 2 participation, the pillar dealing with advanced technologies
• Malaysia: Grab rolls out JustSave carpooling service in Klang Valley, allowing users to split costs by sharing rides with others on similar routes
• India: Securities Exchange Board published consultation paper aiming to regulate fractional ownership of real estate
• Thailand: WeGoWhere, social network aiming to facilitate offline interactions, gains $1.2M seed funding lead by 500 Global
Generative artificial intelligence and the advertising industry: "By 2032, AI will influence 90% of all ad revenue — over $1.3 trillion."
• Australia: Mash lands $2M pre-A funding with tech-enabled, curated bespoke and remote creative teams focused on marketing-related work for brands
• China's Mobvoi files for Hong Kong IPO with multiple devices and software products and services backed by artificial intelligence
• 'Safe and responsible AI in Australia: discussion paper' released, with public submissions closing July 26th
• A brief introduction to the FinTech Australia 2023 Finnies Winners
• India: Log9 and Quantum Energy partner to deploy 10K EVs by March 2024, claiming charging in 12 minutes, with initial 200-unit roll-out for hyperlocal deliveries
• Vietnam: Mekong Capital private equity firm mulls $200M climate fund, possibly launching in 2024, focusing on forestry and farming across Laos, Cambodia, Thailand and Vietnam
• Indonesia's PasarPolis online insurance marketplace mulls Malaysia and Philippines entry, with full-spectrum digital service covering underwriting, pricing, sales, distribution and claims
Elon Musk faces lawsuit claiming '"deliberate course of carnival barking, market manipulation and insider trading" to defraud investors, promote himself and his companies' with DogeCoin promotion
• Australia: An intro to the winning startups and services from The Governor of Victoria Startup Awards, celebrating startups, investors, services and more
• New Zealand: Onwardly cybersecurity SaaS startup partners Brightly, SafeAdvisory and Theta to provide businesses with a comprehensive one-stop approach to cyber-resilience
• Vietnam: Oxalus blockchain startup raises $1.1M with NFT-focused social commerce and networking platform
• India: "Micro VCs bet big on early-stage India deals amid funding winter"
In other news…
» US Pentagon to buy Starlink satellite comms terminals and services from SpaceX for use by the Ukraine military
» Twitter withdraws from voluntary EU disinfo code, although the platform will be legally required to fight disinformation in the EU from late August
» Italian senator reads parliamentary speech drafted by OpenAI GPT-4 chatbot in bid to prompt 'a serious debate' on the risks and opportunities posed by artificial intelligence
» GIST Catalyst Women in Climate Pitch Competition applications are currently open globally
» Stellantis auto giant backs Lyten in part for lithium-sulfur EV batteries using no nickel, cobalt or manganese, delivering near 60% lower carbon and a US/EU supply chain
» Google subsidiary, GU Holdings, applies for license to build, land and operate 13,470-kilometer TPU subsea cable system to connect California with Taiwan, the Philippines and Guam
» Twitter account of OpenAI chief technology officer apparently hacked to promote a crypto airdrop scam
"Consider that a...survey found that over 80 percent of US companies have experienced a successful hack that had the intent to “steal, change or make public important data."
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